North America Smart Ticketing Market Forecast to 2031 - Regional Analysis - by Component, Payment System, and End User

Description

List of Tables

The North America smart ticketing market was valued at US$ 2,248.30 million in 2023 and is expected to reach US$ 5,558.26 million by 2031; it is estimated to record a CAGR of 12.0% from 2023 to 2031 .

Rising Demand for Digital Payments in Public Transport Fuels North America Smart Ticketing Market

Modern cities offer a variety of transportation options, such as buses, trains, and metros. Each public transportation system has its own ticketing system. Managing multiple smart cards or applications for different modes of transportation might be overwhelming for commuters. A centralized method is necessary to combine all transportation networks. In this direction, the public transport infrastructure across the world is being upgraded. The upgrades also aim at improving the commuter experience via a seamless payment interface. For instance, in 2024, Indra was awarded a US$ 16 million contract to renovate the ticket vending machines for Bi-State Development, the interstate public agency that runs the public transportation services in the St. Louis metropolitan area, and MetroLink, the US light rail network in Missouri and Illinois. The contract covers the design, production, and delivery of brand-new, cutting-edge vending machines for the 38 St. Louis Metro network stations. These machines will replace the ones that are currently in use and were previously delivered by Indra between 2006 and 2012. Indra will also be in charge of maintaining the machines and putting in place a cloud-based management system to track and manage them. As cities evolve into smart, connected, and digital-first environments, digital payments for public transportation services will remain at the forefront of the agenda, thereby driving the smart ticketing market growth.

North America Smart Ticketing Market Overview

The North America smart ticketing market is experiencing significant growth owing to the advancements in smart card technology utilized in smart ticketing systems. Contactless solutions facilitated by smartphones and cutting-edge wearable devices are gaining significant traction, as these solutions help optimize time and curb friction at physical ticket counters with flexible payment options. Prominent smart wearable manufacturers, such as Samsung, have introduced payment capabilities in their smartwatches. Additionally, most device manufacturers are integrating payment services, including Samsung Pay, Fitbit Pay, Apple Pay, Garmin Pay, and Google Pay, into their mobile wallet offerings. While smartwatch-enabled payments are still in the developmental phase, they hold significant market potential. These developments are projected to empower consumers to purchase tickets using their wearable devices, reflecting a notable shift in the ticketing landscape. Additionally, initiatives taken by the key smart ticketing market players, such as Cubic Corporation, positively favor the market.

For instance, in May 2023, Infineon's CALYPSO move facilitated the development of interoperable ticketing solutions that adhere to open standards, empowering manufacturers to tailor solutions for the unique needs of transport operators and authorities. This approach eliminates the reliance on magnetic stripes, barcodes, and proprietary tickets, ensuring greater flexibility and compatibility across diverse systems. This development represents a major step forward in modernizing and expanding the contactless ticketing system across the state, with plans for full deployment across the entire passenger rail system, followed by buses and ferries.

North America Smart Ticketing Market Revenue and Forecast to 2031 (US$ Million)

North America Smart Ticketing Market Segmentation

The North America smart ticketing market is categorized into component, payment system, end user, and country.

Based on component, the North America smart ticketing market is segmented into hardware, software, and services. The hardware segment held the largest market share in 2023.

By payment system, the North America smart ticketing market is segmented into open payment system, smart card, and NFC. The smart card segment held the largest market share in 2023.

Based on end user, the North America smart ticketing market is segmented into transportation, sport and entertainment, parking, and others. The transportation segment held the largest market share in 2023.

By country, the North America smart ticketing market is segmented into the US, Canada, and Mexico. The US dominated the North America smart ticketing market share in 2023.

Infineon Technologies AG, NXP Semiconductors NV, Xerox Holdings Corp, Cubic Corp, IDEMIA France SAS, Thales SA, Confidex, HID Global Corp, and Siemens Energy AG are some of the leading companies operating in the North America smart ticketing market.

Product Code: BMIRE00031101

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America Smart Ticketing Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in the Value Chain
4.3 List of Vendors

5. North America Smart Ticketing Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Rising Demand for Digital Payments in Public Transport
- 5.1.2 Increasing Integration of IoT for Better Mobility in Smart Cities
5.2 Market Restraints
- 5.2.1 Data Safety and Security Issues
5.3 Market Opportunities
- 5.3.1 Rising Investments in Smart Stadiums
- 5.3.2 Advancements in AI and ML Technology
5.4 Future Trends
- 5.4.1 Blockchain Technology in Smart Ticketing
5.5 Impact of Drivers and Restraints:

6. Smart Ticketing Market - North America Market Analysis

6.1 Overview
6.2 Smart Ticketing Market Revenue (US$ Million), 2021-2031
6.3 Smart Ticketing Market Forecast Analysis

7. North America Smart Ticketing Market Analysis - by Component

7.1 Hardware
- 7.1.1 Overview
- 7.1.2 Hardware: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Software
- 7.2.1 Overview
- 7.2.2 Software: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Services
- 7.3.1 Overview
- 7.3.2 Services: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)

8. North America Smart Ticketing Market Analysis - by Payment System

8.1 Open Payment System
- 8.1.1 Overview
- 8.1.2 Open Payment System: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Smart Card
- 8.2.1 Overview
- 8.2.2 Smart Card: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
8.3 NFC
- 8.3.1 Overview
- 8.3.2 NFC: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)

9. North America Smart Ticketing Market Analysis - by End User

9.1 Transportation
- 9.1.1 Overview
- 9.1.2 Transportation: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Sport and Entertainment
- 9.2.1 Overview
- 9.2.2 Sport and Entertainment: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Parking
- 9.3.1 Overview
- 9.3.2 Parking: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Others
- 9.4.1 Overview
- 9.4.2 Others: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)

10. North America Smart Ticketing Market - Country Analysis

10.1 North America
- 10.1.1 North America: Smart Ticketing Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.1 North America: Smart Ticketing Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.2 United States: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.2.1 United States: Smart Ticketing Market Breakdown, by Component
    - 10.1.1.2.2 United States: Smart Ticketing Market Breakdown, by Payment System
    - 10.1.1.2.3 United States: Smart Ticketing Market Breakdown, by End User
  - 10.1.1.3 Canada: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.3.1 Canada: Smart Ticketing Market Breakdown, by Component
    - 10.1.1.3.2 Canada: Smart Ticketing Market Breakdown, by Payment System
    - 10.1.1.3.3 Canada: Smart Ticketing Market Breakdown, by End User
  - 10.1.1.4 Mexico: Smart Ticketing Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.4.1 Mexico: Smart Ticketing Market Breakdown, by Component
    - 10.1.1.4.2 Mexico: Smart Ticketing Market Breakdown, by Payment System
    - 10.1.1.4.3 Mexico: Smart Ticketing Market Breakdown, by End User

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative

13. Company Profiles

13.1 Infineon Technologies AG
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 NXP Semiconductors NV
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Xerox Holdings Corp
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Cubic Corp
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 IDEMIA France SAS
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Thales SA
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Confidex
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 HID Global Corp
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Siemens Energy AG
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 Word Index