Global Passenger Ticket Vending Machine Market Size To Reach USD 1,058.84 Million by 2030
Category : Manufacturing | Published Date : Jun 2024 | Type : Press Release
Passenger Ticket Vending Machine Market Definition & Overview :
A passenger ticket vending machine is a type of ticket vending machine (TVM) that generates paper or electronic tickets for passengers. The machine accepts payments through various modes including currency notes, NFC technology, smart cards, or coins.
Consegic Business Intelligence analyzes that the Global Passenger Ticket Vending Machine Market was valued at USD 767.85 Million in 2022, and is expected to register a CAGR of 4.4% to reach USD 1,058.84 Million in 2030.
This report comprises Passenger Ticket Vending Machine Market Size, Share & Industry Analysis, By Component(Hardware and Software), By Payment Type(Cash Payments and Cashless Payments), By Application(Bus Station, Railway Station, Airports, and Subway Station), By Region(North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2030.
This report contains detailed information on Passenger Ticket Vending Machine Market Value, Growth Rate, Segmentation, Geographical Coverage, Trends, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report, the surge in the installation of machines and increasing urban passenger mobility is driving the passenger ticket vending machine market growth. Several advantages like 24/7 operation, improved accessibility, improved efficiency due to contactless payments, lowered queue times, and reduced requirement of staff promote the installation of passenger ticket vending machines.
Segmental Analysis :
The Passenger Ticket Vending Machine Market is segmented into four major segments based on component, payment type, application, and region.
Based on the components, the market is bifurcated into hardware and software.
- The hardware segment holds the largest market share in 2022 and includes thermal printers, coin drawers, card readers, network modems, password keyboards, and screens.
- The software segment is expected to register the fastest CAGR during the forecasted period, as the technological advancements in the machines including touch-screen and voice control offer convenience to the users.
On the basis of payment type, the passenger ticket vending machines market is bisected into cash and cashless payments.
- The cashless segment accounted for the highest market share in 2022 and is also expected to witness the fastest CAGR in the forecasted period, due to the rise in the utilization of credit and debit cards. This also reduces labor costs and provides faster and smoother payments.
Based on the applications, the market is divided into several sections which are bus stations, railway stations, airports, and subway stations.
- Out of these segments, the railway stations segment accounted for the largest market share of 39.67% in 2022 and is also expected to register the fastest CAGR from 2023 to 2030.
- The ticket vending machines provide efficient QR code-based payments, and smart card-based recharge reducing the waiting time of the passengers, which accelerates the demand for machines at railway stations.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- Europe has the largest revenue share in 2022, due to the region's expanding and vast railway infrastructure.
- In contrast, the Asia Pacific region is projected to witness the fastest CAGR of 4.7% during the forecasted period because of the rise in the transportation industry in the region's countries.
| Report Attributes | Report Details |
| By Component | Hardware and Software |
| By Payment Type | Cash Payments and Cashless Payments |
| By Application | Bus Station, Railway Station, Airports, and Subway Station |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging trends and dynamics in partnerships.
List of prominent players in the Passenger Ticket Vending Machine Market :
- Cammax Ltd
- Xerox Corp.
- SPX Corp.
- Sigma Spa
- Scheidt & Bachmann GmbH
- OMRON Corp.
- init SE
- ICA Chipkartensysteme GmbH
- Flowbird SAS
- DUCATI Energia SPA
Recent Industry Developments :
- In February 2023, using Customer Information Screens (CIS), Cammax upgraded 13 smart rail ticket vending machines, which allow real-time information about rail delays and cancellations to passengers.
- In January 2022, Ridango and Elron launched a contactless bank card payment system for the onboard ticket vending machine in Estonia enabling the users to buy tickets directly at the ticket counters.
