Mobile ticketing: Key market research findings
- EMEA dominates the market geographically
- QR and barcodes account for the majority share of the market
- Key vendors—Bytemark, Corethree, Eventbrite, Gemalto, Masabi, and ShowClix
Technavio’s market research analysts expect the global mobile ticketing market to grow at a CAGR of around 16% between 2016 and 2020. The increased adoption of mobile internet spurred by the launch of 3G and 4G is fueling growth in this market. The penetration of latest mobile internet technologies and smartphones is opening up an alternate channel for shopping via e-commerce websites. Customers are rapidly shifting their focus online mobile purchases from brick-and-mortar stores. Many industry verticals are switching to mobile marketing and the e-commerce model to expand their business reach. In 2015, EMEA dominated the global mobile ticketing market by accounting for around 42% of the overall market share. The market is flourishing in this region as the governments of several countries in EMEA are recognizing the importance of using new technology to improve ticketing systems in the transportation sector and offer customers with better service and expediency.
The new market research report from Technavio presents a breakdown and analysis of the mobile ticketing segments based on technology.
“The emergence of NFC-based payment technology is the latest trend in the market. Near-field communication(NFC) allows the exchange of data between two devices placed at a limited distance of a few centimeters. This technology can work as a one or two-way communication. Many retailers including Target, Macy’s, and Walgreens now use NFC-based contactless pay terminals. The advent of NFC-based mobile phones is expected to propel this trend further during the forecast period,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
The QR and barcodes segment accounted for around 50% of the market in 2015 to become the dominant shareholder in the global mobile ticketing market. QR codes and barcodes, the most popular coding technologies used for mobile ticketing, are scanned by a scanner that based on optical or laser technology. Delivered as secure 2-D barcodes, these tickets can be scanned and validated securely using low-cost smartphone hardware. The passenger can show their phone’s screen to the scanner to validate the ticket faster than most smartcards.
The key vendors in the global mobile ticketing market include Bytemark, Corethree, Eventbrite, Gemalto, Masabi, and ShowClix. Due to the presence of many small and medium-sized vendors, the global event ticketing system market is highly fragmented. Large vendors have started considering M&A strategies to increase their market presence and expand their reach. Since vendors are continuously improving their delivery models with technology, competition is intense. Moreover, as many companies are seeking to increase their market share, more acquisitions will occur during the forecast period.
A more detailed analysis is available in the Technavio report, Global Mobile Ticketing Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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