Digital ticketing transaction values worldwide will exceed pre-pandemic levels next year and reach US$1.7tn in 2027, up from US$768bn in 2022, according to a forecast from Juniper Research.
It predicts that metro and bus ticketing will be the fastest growing digital ticketing segment, expanding by more than 200% over the next five years, but also identifies “rapid growth” in digital event ticketing, with predicted transaction values more than doubling from just under US$100bn in 2022 to more than US$230bn in 2027.
The overall growth in digital ticketing transaction values over the next five years “represents a strong recovery from the heavy impact of the Covid-19 pandemic, driven by the ongoing success of contactless payments,” the researchers say.
“However, the research identified current market fragmentation, where users cannot use the same payment method across different transit and event areas, as a factor limiting growth and user experience quality.”
Adoption of solutions such as account-based ticketing and “integrated contactless systems for different transit scenarios” will “accelerate the digital transition in ticketing and hasten the onset of mobility-as-a-service”, the researchers add.
Global digital ticketing transaction values to hit US$1.4tn in 2027 was written by Tom Phillips and published by NFCW.