Overview
The ticketing processes that are conducted manually for various processes are very onerous and time-consuming, thus the development in technology has been a boon for the mobile ticketing process. The insights into the industry of information and communication technology are advanced by Market Research Future, which concentrates on reports on industry verticals that review the market options for growth. A revenue grossing valued at USD 4026 Million roughly is expected by 2022, with a 19 % CAGR.
The spur in digitization, along with the availability of appropriate booking platforms, is expected to create a momentum for the expansion of the mobile ticketing market 2020 in the forecast period. Furthermore, the added benefits of cutting down on paperwork time and the unintended errors are predicted to create promising chances for mobile ticketing applications in the coming period.
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Segmental Analysis
The evaluation of the segments in the mobile ticketing market has been carried out on the basis of application, technology, type, and region. The application basis of segmenting the mobile ticketing market comprises of entertainment tickets, travel tickets, and others. Based on the technology, the mobile ticketing market consists of optical character recognition (OCR), near field communication (NFC) technology and 2D bar code. The segment of 2D bar code has been sub-divided into QR code and PDF 417. Based on the types, the mobile ticketing market consists of mobile applications and of SMS ticketing. On the basis of regions, the mobile ticketing market is segmented into Africa, APAC, North America, the Middle East, Europe, and Latin America.
Detailed Regional Analysis
The regional examination of the mobile ticketing covers regions such as Africa, APAC, North America, the Middle East, Europe, and Latin America. The scrutiny of the mobile ticketing market affirms that the North American region is reigning in the mobile ticketing market because of the raised diffusion of mobile ticketing uses and is shadowed by the European region. It has also been perceived that the usage of mobile ticketing for performances, which started originally in the European region, has now achieved important impetus. As the European region had commenced the initial implementation of mobile ticketing, it also has expertise over the subsequent principal market portion in the mobile ticketing market. The Asia Pacific region is estimated to advance significantly in the mobile ticketing market size over the forecast period owing to reasons such as the increasing improvements in the promotion and opening of NFC.
Competitive Analysis
The ability to successfully satisfy the demand forces will require the industry to excel in several areas. the variation of the workforce can enable the successful implementation of growth strategies in the market. The need to keep the market practices in sync with the environmental concerns that are looming is expected to promote the overall sustainability of the market. It is also noted that the cooperation by the governments around the world in terms of relaxation of several barriers and the institution of constructive strategies is expected to put the market on a track for unparalleled development. The upturn in the performance of domestic markets is expected to have a favorable impression on the growth of the market. The limitations in the market are constantly being studied so that breakthroughs to remove them can be undertaken.
The well-known contenders in the mobile ticketing market are Masabi (UK), Proxama (UK), Helpshift (U.S.), Zendesk (U.S.), ticketscript (Netherlands), StubHub (U.S.), Ace Ticket Worldwide (U.S.), Airtag (France), Alliance Tickets (U.S.), Coast to Coast Tickets (U.S.), RazorGator (U.S.), among others
Industry Updates:
Jan 2020 TD Garden, the base of the National Hockey League’s (NHL) Boston Bruins and National Basketball Association’s (NBA) Boston Celtics, has entered into an association with technology platform Venuetize to make a novel platform presenting mobile ticketing service. The mobile application, which will be on Android and iOS, will permit customers to buy and store game tickets, as well as parking bookings.
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