Leading innovators in ticketing platform transaction security for the travel & tourism industry
The travel & tourism industry continues to be a hotbed of innovation, with activity driven by a greater desire from consumers for personalised offerings that heighten the traveller experience. Delivering this requires the collection and effective use of large amounts of personal data and this has significant cybersecurity implications.
Technologies such as artificial intelligence, cybersecurity, the Internet of Things, and cloud solutions are all growing in importance. In the last three years alone, there have been over 15,000 patents filed and granted in the travel & tourism industry, according to GlobalData’s report on Cybersecurity in Travel: ticketing platform transaction security.
According to GlobalData’s Technology Foresights, which uses over 21,000 patents to analyse innovation intensity for the travel & tourism industry, there are 20+ innovation areas that will shape the future of the industry.
Ticketing platform transaction security is a key innovation area in cybersecurity
Ticketing and booking platforms are now fully cemented in the travel and tourism industry, with online bookings of everything from flights to attraction entry very much the norm.
While online bookings and platforms (both direct and intermediaries) offer a multitude of benefits, they also present cybersecurity challenge due to the large amount of personal data that must be collected and stored. The hospitality industry is one of the most targeted industries by hackers according to Trustwave and consequently, ticketing platform transaction security is of paramount importance.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies.
According to GlobalData, there are 20+ companies, spanning technology vendors, established travel & tourism companies, and up-and-coming start-ups engaged in the development and application ticketing platform transaction security.
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Innovation in the area of ticketing platform transaction security is interesting in that companies from many different areas are seeking to protect intellectual property related to this area.
Companies that issue tickets for the events they run, like Live Nation, are noticeably present as are specialist ticketing companies such as Flash Seats, which has developed technologies aimed at making the sale and storage of tickets 100% secure, as well as facilitating their transfer or resale.
These include innovations around scannerless venue entry and QR code technology that does not download a barcode (serving as a ticket, or authentication/verification, or otherwise) from the system server to the Smartphone/mobile device client, unlike previous systems.
Travel tech giant Amadeus is also innovating and filing for patents, showing that use cases go beyond venues and that there are applications for such technologies in the lodging and airline sectors. The technology companies are seeking to protect innovations that largely revolve around payment security and the secure storage of tickets to reduce the possibility of unauthorised reproduction or theft.
To further understand the key themes and technologies disrupting the travel & tourism industry, access GlobalData’s latest thematic research report on Cybersecurity in Travel and Tourism.