Smartphones are helping us significantly as an interactive technology intermediate in all routine activities. Mobile ticketing apps increase the probability of consumer spending on mobile ticketing applications for various purposes, such as booking of movie tickets, bus tickets, flight tickets, and many more, leading to higher potential sales of mobile ticketing applications. Mobile ticketing provides users the option of buying tickets for single or multiple fares. These factors have led to rapid expansion of the global mobile ticketing market size over the last few years, and this trend is likely to continue in the coming 5 years.
Mobile Ticketing Market Trends
Rising Adoption of m-Ticking Surging Sales: Mobile ticketing applications can also be used by sports, event, and music concert organizers to drive ticket sales, as well as to offer customers the convenience of booking tickets from a remote location or from the comfort of their home without the need to be physically present in a queue at a ticket outlet or having to pay in cash. Other advantages include reduced paperwork, time, and chance of human error, and immediate accessibility to e-tickets. Hence, increasing use and popularity of mobile ticketing apps is expected to result in rising revenue potential for mobile ticketing vendors over the forecast period.
Increasing Mobile Ticketing in Transportation Sector Supporting Market Growth: The m-ticking solution provides passengers a seamless way to travel from one city to another or from one location to another in the same city, and freedom to combine various modes of transportation and services under one transaction using their mobile or smartphone. The open ecosystem allow travelers to freely choose from the range of payment options and browse between different applications offering various services. These mobile ticketing systems and platforms help operators streamline their ticketing and validation processes, increase safety and security, and lower the cost of fare collection, while increasing customer satisfaction levels.
Regional Outlook of Mobile Ticketing Market
In terms of value, North America led the global mobile ticketing market share in 2019. Extensive usage of mobile ticketing applications by end users for booking entertainment tickets such as movies and concerts, and bookings for flights and other transportation facilities are the major factors driving the growth of mobile ticketing applications in this region. The market in South Asia and Pacific is expected to record the highest growth rate over the forecast period. Asian countries have witnessed rapid urbanization and high spending on public transit systems over the last few years, which has subsequently led to an increase in the number of consumers willing to use mobile ticketing apps for travelling as well as entertainment.
Impact of COVID- 19 Outbreak on Mobile Ticketing Market
The COVID-19 pandemic has impacted many business such as media & entertainment, events, films, gaming, theaters, theme parks, and others. With complete or partial lockdowns in place, transportation and tourist sites are witnessing a dramatic fall in visitors with social distancing norms in place. Due to the COVID-19 impact, the mobile ticketing market is projected to decline by nearly 200-250 BPS in Q2, 2020. Most international & domestic flights and transportation services are on hold due to safety issues. The market is projected to recover at a fast rate post-pandemic.
Mobile tickets and cards offer greater reach, boost loyalty among regular users, improve customer experience, and simplify local travel for occasional tourists and visitors. The transport and entertainment sectors will offer the most lucrative opportunities the players in the mobile ticketing market space to increase their sales and revenue. Stakeholders can look at the South Asia & Pacific region to increase their customer base and gain a competitive edge in the market.
Mobile Ticketing Market: Report Scope
The research study on the mobile ticketing market offers a close look at the evolving aspects of the market as well as the dynamics impacting market growth. The research study focuses on key developments that have made their mark in the mobile ticketing market, and other developments that are on the cards. The report talks about various macro- and micro-economic factors responsible for having an in-depth impact on the growth of the mobile ticketing market.
A direct market overview provides the growth scenario and market potential with maximum precision, which is adjudged with suitable assumptions. The report features unique and relevant factors that are likely to have a significant impact on the mobile ticketing market during the forecast period of 2020 to 2030. This report includes a detailed and considerable amount of information, which will help new manufacturers in the most comprehensive manner for better understanding.
Several stakeholders in the mobile ticketing market can rely on the data offered in this research study, and delve into pragmatic decision-making. Moreover, information offered in the mobile ticketing market report also helps new market entrants in expanding their bases in the market.
The report elaborates the historical and current trends molding the growth of the mobile ticketing market. The performance journey of the market has been drawn and analyzed in way that the lucrative side is evident to readers. The competitive landscape presented in the mobile ticketing market report gives a detailed outlook of the profiles of key companies operating in the market, along with their differential strategies and key focus areas.
Mobile Ticketing Market: Segmentation
PMR’s research study on the global mobile ticketing market offers a detailed market segmentation, wherein, key segments have been discussed in detail. The segmentation of the mobile ticketing market has been offered on the basis of type, application, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
Mobile Ticketing Market: Key Questions Answered in Report
The research study on the mobile ticketing market offers inclusive insights about the growth of the market in the most comprehensible manner for the better understanding of users. Key insights offered in the report answer some of the most salient questions that assist stakeholders in gauging all emerging possibilities.
Mobile Ticketing Market: Research Methodology
A unique and promising research methodology forms the base of the mobile ticketing market report for the forecast period. The report has been prepared after comprehensive analysis of market happenings, and then, riveting insights have been compiled meticulously. The research methodology of the mobile ticketing market report has been a two-step process that comprises primary and secondary researches. Key stakeholders such as manufacturers, suppliers, and distributors, and experts of several designations, including executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals have been interviewed.
Secondary sources referred to garner report findings include investor presentations of manufacturers, World Bank, and many other credible sources.