The global mobile ticketing market is set to expand at a compound annual growth rate of more than one-fifth over the next five years.
According to analysts at Technavio, a market research company with offices in the UK and the US, the sector will expand by an average of 20.09% from 2016 to 2020.
“The use of mobile phones will enable consumers to buy tickets and to carry tickets within the phones’ secure universal integrated circuit card,” the study said.
“This will work as an alternative to the traditional electronic card-based tickets and will provide additional functionality and convenience to end-users.”
The study also claimed that mobile ticketing, increasingly used throughout the entertainment sector, will provide more opportunities for service providers, which will be able to “access new channels via the mobile handset to bring added-value services” such as timetables and guides.
The research comes after a major study published last year by Juniper Research suggested a major shift in the digital ticketing sector was likely.
The research, which focused on the five-year period from 2015 to 2019, claimed that more than half of all digital ticket transactions will take place via mobile devices by the end of this decade, with particularly strong growth expected in the event and transport sectors.
The study added that global ticket purchases via mobile and desktop devices – including smartphones, tablets and PCs – will hit $32bn by 2019, up from $16.2bn this year.