Passenger Ticket Vending Machine Market Statistics 2030 -
The global passenger ticket vending machine market was valued at $0.73 billion in 2020, and is projected to reach $1.11 billion by 2030, registering a CAGR of 4.4%.
Passenger ticket vending machine is an automated solution that produces electronic or paper tickets by using smart cards, currency notes, coins, or NFC technology. Passenger ticket vending machines generate fare tickets at railway stations, bus stations, subway stations, and airports. It is an operational efficient solution compared to traditional ticketing systems this time-effective ticketing solution eliminates the need for long queues at public transportation places. Change in urban commute outlook and rise in penetration of digital technology are the key factors that drive growth of the global passenger ticket vending machines market. In addition, demand of passenger ticket vending machines are directly influenced by introduction of smart technologies at the public transportation front.
Factors such as low manpower cost & less operational time, improved efficiency, and enhanced transport infrastructure and security system are expected to drive growth of the passenger ticket vending machines market. However, high installation cost and high maintenance cost restrain the market growth. On the contrary, rise in digital payment and entering into agreements and contracts with rail operators are projected to offer lucrative growth opportunities for the market players.
The global passenger ticket vending machines market is segmented on the basis of component, input type, application, and region. Depending on component, it is segregated into hardware and software. By input type, it is categorized into smart card, near field communications, and others. Depending on application, it is fragmented into railway stations, subway stations, bus stations, and airports. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Leading players and their key business strategies have been analyzed in the report to gain a competitive insight in the market. Key players covered in the report include AEP Ticketing Solutions Srl, DUCATI Energia SPA, Flowbird SAS, ICA Chipkartensysteme GmbH, Init innovation in traffic systems SE, OMRON Corp., Scheidt & Bachmann GmbH, Sigma Spa, Thales Group, and Xerox Corp.
By Component
Software segment is projected as the most lucrative segments
Low manpower cost & less operational time
Manpower cost in any service industry accounts for significant portion in overall cost to service providers. Workforce at public transport commute points ensure effective working of transportation to gain optimum output, however, during service operations, the possibility of human errors is high, which is associated with operational time for handling activities are high compared to automated systems. Passenger ticket vending machines enable errorless operations along with time effectiveness. In addition, it reduces requirement of man power at every stage of operations, which saves a significant level of manpower cost. Time is a major concern for every passenger, which can be minimized at a noteworthy level by installing passenger ticket vending machines across various public transportation platforms. Increase in demand for low manpower cost and less operational time by service providers are expected to propel demand for passenger ticket vending machines throughout the forecast period
By Input Type
Near Field Communications segment is projected as the most lucrative segments
Improved efficiency
Passenger ticket vending machine eliminates cash payment and concerns associated with language barriers between drivers and passengers, which allows facilitating hassle-free payment using smartcards. With every swipe of card, valuable data is collected and instantly incorporated in a database to enable efficient handling of payments, faster transactions, and less processing time. In addition, it enables merchants to manage records efficiently and handle large amounts of transactions. Furthermore, faster validation of transactions allows staff to generate fare tokens and tickets quickly. The passenger ticket vending machine has improved efficiency of fare box collection and made journey convenient for commuters which, in turn, drives the market growth.
By Application
Subway Stations segment is projected as the most lucrative segments
High installation cost
Installation of passenger ticket vending machine companies incurs high-cost and includes installing vending machine equipment and checking devices; setting of communication network (wired networks) and installing network equipment (all kinds of networks); fixing installed system hardware, fine-tuning, and testing system hardware; and interaction between system components. Bus transportation service providers require handheld collection devices, while subways and train facilities require much bigger infrastructure. This increases overall installation cost, which hinders the market growth.
By Region
Europe would exhibit the highest CAGR of 5.5% during 2021-2030.
COVID-19 Impact Analysis
Spread of the COVID-19 pandemic has negatively impacted the global passenger ticket vending machine market, owing to commute restrictions and expected weak financial performance of market players in 2020. The major risk factors of the passenger ticket vending machine market participants are supply chain execution, regulatory & policy changes, dependency on labor, working capital management, and liquidity & solvency management. The second wave of COVID-19 hit hard more than earlier strain of COVID-19 in February 2021, and is expected to impact the overall economic outlook negatively to a greater extent. The global business outlook has changed dramatically post the COVID-19 health crisis.
Key Benefits For Stakeholders
- This study presents analytical depiction of the global passenger ticket vending machine market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall passenger ticket vending machine market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the global passenger ticket vending machine market with a detailed impact analysis.
- The current passenger ticket vending machine market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Component
- Hardware
- Software
By Input Type
- Smart Card
- Near Field Communications
- Others
By Application
- Railway Stations
- Subway Stations
- Bus Stations
- Airports
By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Spain
- France
- Germany
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- AEP Ticketing Solutions Srl
- DUCATI Energia SPA
- Flowbird SAS
- ICA Chipkartensysteme GmbH
- Init innovation in traffic systems SE
- OMRON Corp.
- Scheidt & Bachmann GmbH
- Sigma Spa
- Thales Group
- Xerox Corp.
Passenger Ticket Vending Machine Market Report Highlights
| Aspects | Details |
 By Component |
|
 By Input Type |
|
 By Application |
|
 By Region |
|
 Key Market Players | Scheidt & Bachmann GmbH, ICA Chipkartensysteme GmbH & Co. KG, Init innovation in traffic systems SE, Xerox Corporation, .FLOWBIRD, OMRON CORPORATION, DUCATI ENERGIA SPA, Sigma S.p.A, AEP Ticketing Solutions S.r.l., THALES GROUP |
Analyst Review
The global passenger ticket vending machines market is expected to witness significant growth, owing to adoption of smart technologies at the public transportation front for ease in operations and high penetration of digital payments across the globe. Passenger ticket vending machines are gaining significant traction in the current era, owing to their operational capabilities along with cost-effectiveness in the long run. Europe is a leader in the passenger ticket vending machines market, owing to presence of smart technology enabled public transportation network.
The global passenger ticket vending machine market is a fairly consolidated market in which limited market participants are operating in the global market. Market participants are focused to develop their sales footprints by entering into long-term contracts and agreements with the rail operators and introduce new product lines of passenger ticket vending machines as per the specific requirements of the end users.
Numerous developments have been carried out by top companies, such as AEP Ticketing, FLOWBIRD, ICA Chipkartensysteme, Init, Scheidt & Bachmann, SIGMA, and Thales Group which supplements growth of the global passenger ticket vending machines market. Impacts of COVID-19 significantly affected the global passenger ticket vending machines market in 2020. Furthermore, the market witnessed negative growth or significant downfall in 2020. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
The global passenger ticket vending machine market was valued at $728.54 million in 2020, and is projected to reach $1,109.53 million by 2030, registering a CAGR of 4.4%. Europe was the highest revenue contributor, accounting for $234.15 million in 2020, and is estimated to reach $394.44 million by 2030, with a CAGR of 5.5%.
Growing inclination towards the digital payment enalbed passenger ticket vending machine is the key trend in the global market
The report sample for global Passenger Ticket Vending Machine market report can be obtained on demand from the website.
Yes, The global passenger ticket vending machine market is projected to register CAGR of 4.4%.
From the past previous years, passenger ticket vending machine is replacing human operated fare collection system to the automated fare collection system across all public transportation network
The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated
AEP Ticketing Solutions Srl, Flowbird SAS, Scheidt & Bachmann GmbH, Thales Group are the key companies operating in the global market
AEP Ticketing Solutions Srl, DUCATI Energia SPA, Flowbird SAS, ICA Chipkartensysteme GmbH, Init innovation in traffic systems SE, OMRON Corp., Scheidt & Bachmann GmbH, Sigma Spa, Thales Group, and Xerox Corp are the software as well as hardware manufacturer of the passenger ticket vending machine.
China, U.S., Germany are the leading manufacturers of the passenger ticket vending machines.
Passenger ticket vending machines are the cost effective fare collection system along with less operational duration
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