The passenger ticket vending machine market share is expected to increase by USD 140.92 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.69%.
This passenger ticket vending machine market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers passenger ticket vending machine market segmentation by application (railway stations, subway stations, bus stations, and airports) and geography (North America, Europe, APAC, MEA, and South America). The passenger ticket vending machine market report also offers information on several market vendors, including AEP Ticketing Solutions Srl, DUCATI Energia SPA, Flowbird SAS, ICA Chipkartensysteme GmbH, init SE, OMRON Corp., Scheidt & Bachmann GmbH, Sigma Spa, SPX Corp., and Xerox Corp. among others.
What will the Passenger Ticket Vending Machine Market Size be During the Forecast Period?
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Passenger Ticket Vending Machine Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. Affordable access to smart transit systems is notably driving the passenger ticket vending machine market growth, although factors such as lack of TVM operating knowledge by passengers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the passenger ticket vending machine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Passenger Ticket Vending Machine Market Driver
One of the key factors driving the passenger ticket vending machine market is affordable access to smart transit systems. A smart transit system is a combination of a TVM, fare collection, and smart gating systems. The system can manage passenger flow during peak hours. The software interface of a smart ticketing system works with payment gateways and other connected systems, such as card readers and smartphones, through servers. The smart transit system application is mainly installed in railway and subway stations, while high growth will be observed for smart transit systems in airports during the forecast period. The advanced smart ticketing technology deployment in airlines will feature self-luggage handling and self-boarding, which will help airport authorities to handle critical operations at peak hours. This convenience provided by smart ticketing systems will influence the airline industry during the forecast period. In addition, the Singapore government selected Gemalto (Netherlands), which aimed to implement mobile NFC ticketing solutions in its public transport networks, such as in railways, subways, and bus stations, in 2016. Therefore, governments in various APAC countries are increasingly supporting the implementation of smart transit systems. This adoption of smart transit systems is expected to surge during the forecast period.
Key Passenger Ticket Vending Machine Market Trend
Retrofitting of TVMs is another factor supporting the passenger ticket vending machine market growth in the forecast period. Retrofitting of passenger TVMs is another trend in the market, which eliminates the cost of installing a new TVM. Due to a surge in market competition, TVM manufacturers are introducing novel technologies. However, the cost of employing innovative technology and installing new vending machines is high. As a result, many transport operators are not willing to bear the cost of installation of new TVMs. Therefore, the retrofitting of existing TVMs with the latest technology is a feasible option for various transport companies. For instance, OTI provides small-sized and cost-effective enclosure controllers, such as the TeleBox or GoBox, and credit card readers. These controllers are used to accept card and mobile payments through various gateways, such as Android Pay, Samsung Pay, and Apple Pay, and even accept payments by wearable contactless payment devices. These credit card readers and GoBoxes can be retrofitted in TVMs, thereby providing the connectivity to a new payment gateway and to the monitoring suits and management control for TVMs.??
Key Passenger Ticket Vending Machine Market Challenge
Lack of TVM operating knowledge by passengers will be a major challenge for the passenger ticket vending machine market during the forecast period. Passengers’ lack of training, knowledge, and expertise in TVM operation is a major challenge to the global passenger TVM industry. There are various transport stations, such as railway stations, metro and subway stations, and airports, where TVMs are installed. Most of the time passengers need assistance with operating TVMs, which leaves them unsatisfied with the TVM user interface due to the lack of proper execution of vending machines. Furthermore, intelligent TVMs respond only when users feed information to the machine. Therefore, the vending machine output depends upon the input provided by the passenger. As passengers manually feed the information to the TVM, there are high chances of miscommunication or feeding of incorrect information by the end-users. Hence, proper training and knowledge are required for the successful operations of these TVMs. Many TVM vendors have realized and introduced various training programs for better execution of TVMs by passengers in various transport stations.??
This passenger ticket vending machine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global passenger ticket vending machine market as a part of the global electronic equipment and instruments market within the overall electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the passenger ticket vending machine market during the forecast period.
Who are the Major Passenger Ticket Vending Machine Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- AEP Ticketing Solutions Srl
- DUCATI Energia SPA
- Flowbird SAS
- ICA Chipkartensysteme GmbH
- init SE
- OMRON Corp.
- Scheidt & Bachmann GmbH
- Sigma Spa
- SPX Corp.
- Xerox Corp.
This statistical study of the passenger ticket vending machine market encompasses successful business strategies deployed by the key vendors. The passenger ticket vending machine market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
Product Insights and News
- AEP Ticketing Solutions Srl - The company offers its product as Futura 3B in the AEP range contactless/optical validator, CLM-3, RTVM-I, and others.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The passenger ticket vending machine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Passenger Ticket Vending Machine Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the passenger ticket vending machine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global electronic equipment and instruments market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for Passenger Ticket Vending Machine Market?
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32% of the market’s growth will originate from North America during the forecast period. The US, Canada, and Mexico are the key markets for passenger ticket vending machines market in North America. Market growth in this region will be faster than the growth of the market in other regions.
The advent of innovative TVMs in airports, railway and subway stations, and bus stations of the region will facilitate the passenger ticket vending machine market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The market is also witnessing certain challenges due to the COVID-19 pandemic. The coronavirus pandemic had a wide-ranging impact on public transport, especially on the railway industry. The COVID-19 pandemic has considerably affected passenger rail with a large decrease in traffic and will also have long-term effects. The introduction of lockdown in the event to contain the virus has resulted in a decline in passenger traffic in 2020. Therefore, the decline in passenger traffic has further hindered the use of TVMs at railway stations, thereby declining market growth. However, in certain countries, such as England, public transport restrictions are set to ease. The government of England advises people to use personal transport before using rails or any other public transport. On the other hand, the government is preparing to ease restrictions on public transport to encourage people to return to work and support the economy, which has suffered as a result of the COVID-19 pandemic. This may have a positive impact on the market.
What are the Revenue-generating Application Segments in the Passenger Ticket Vending Machine Market?
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The passenger ticket vending machine market share growth by the railway station segments will be significant during the forecast period. The need to print tickets has reduced due to the introduction of TVMs. This has also eliminated the cost of overheads transport and the account team to monitor the process. Furthermore, the benefit of an e-ticket is that we don't need to carry a paper ticket, as it is present in an electronic format. This is an alternative to paper rail tickets. TVMs are becoming popular at railway stations across the world as more than 30% of rail passengers worldwide buy tickets from TVMs.
This report provides an accurate prediction of the contribution of all the segments to the growth of the passenger ticket vending machine market size and actionable market insights on the post-COVID-19 impact on each segment.
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Passenger Ticket Vending Machine Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.69% |
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Market growth 2021-2025 |
USD 140.92 million |
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Market structure |
Fragmented |
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YoY growth (%) |
2.72 |
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Regional analysis |
North America, Europe, APAC, MEA, and South America |
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Performing market contribution |
North America at 32% |
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Key consumer countries |
US, China, UK, Germany, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AEP Ticketing Solutions Srl, DUCATI Energia SPA, Flowbird SAS, ICA Chipkartensysteme GmbH, init SE, OMRON Corp., Scheidt & Bachmann GmbH, Sigma Spa, SPX Corp., and Xerox Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Passenger Ticket Vending Machine Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive passenger ticket vending machine market growth during the next five years
- Precise estimation of the passenger ticket vending machine market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the passenger ticket vending machine industry across North America, Europe, APAC, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of passenger ticket vending machine market vendors
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