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Mobile Ticketing Market Segmented By Mobile Ticketing Application, SMS Mobile Ticketing Type for Travel Tickets, Entertainment Tickets, Hotel Booking
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.
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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.
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Get a Customized VersionIn 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.
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.
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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.
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.
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