USD 12.43 billion
Report ID: SQSG20D2017 | Region: Global | Published Date: September, 2022 | Pages: 157
Global automatic ticket machine market was valued at USD 12.43 billion in 2021, and it is expected to reach a value of USD 25.39 billion by 2028, at a CAGR of more than 13.24% over the forecast period (2022- 2028).
An automated method of producing electronic or paper tickets using smart cards, cash, coins, or NFC technology is a passenger ticket vending machine. At airports, train stations, bus stops, and subway stations, ticket vending machines produce fare tickets. It is a time-effective ticketing solution that, when compared to conventional ticketing systems, eliminates the need for lengthy lines at public transportation hubs. The two main trends driving the growth of the global market for passenger ticket vending machines are the shift in urban commuter outlook and the increase in the adoption of digital technology. In addition, the introduction of smart technologies in the field of public transportation has a direct impact on the demand for passenger ticket vending machines.
The use of an automatic ticket machine eliminates the need for cash payments and worries about linguistic barriers between passengers and drivers, enabling hassle-free smartcard payment. Every time a card is swiped, useful information is gathered and instantly added to a database to allow for more effective payment processing, quicker transactions, and shorter processing times. Additionally, it gives retailers the ability to efficiently manage records and deal with large volumes of transactions. The ability for staff to quickly produce fare tokens and tickets is also made possible by faster transaction validation.
The automatic ticket machine market is expected to grow as a result of elements like low labor costs and minimal operational time, increased effectiveness, improved transportation infrastructure, and improved security measures. High installation and maintenance costs, however, limit market expansion. On the other hand, market participants are expected to benefit from lucrative growth opportunities due to the increase in digital payments and the signing of agreements and contracts with rail operators.
Global Market Size
USD 12.43 billion
Smart Card Payment
Smart Card Payment
more than 13.24% CAGR
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Global automatic ticket machine market is segmented based on the application, end use, and region. Based on the payment type, the automatic ticket machine market is segmented into smart card payment, cash payment, and others. Based on application, the automatic ticket machine market is segmented into public transport, entertainment and gaming and others. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Payment Type
Based on the payment type, the automatic ticket machine market is segmented into smart card payment, cash payment, and others. The smart card payment segment held larger market share and is expected to develop significantly throughout the projection period because they provide advantages over cash payments, such as greater convenience, security, and less human handling of currency. The use of smart cards with an embedded RFID chip is expanding in the public transportation industry. Additionally, smart cards are mostly used in the gaming and entertainment industries because they eliminate the need for handling currency while participating in games or viewing movies. Given that cash is the default payment method in the event that a smart card is faulty, the cash payment segment is predicted to rise steadily. Due to the use of NFC technology to generate automatic tickets via mobile phones without the need for cash or smart cards, mobile payment options have potential in the future.
Analysis by Application
Based on application the automatic ticket machine market is segmented into public transport, entertainment and gaming and others. As more multi-specialty hubs and retail establishments are built, the entertainment and gaming segment is expected to experience exponential expansion. This section provides just-in-time ticketing solutions, cutting down on the extra time needed. Additionally, smart ticketing solutions have expanded significantly due to the use of multimedia and the adoption of the Internet of Things (IoT).
Because passengers using trains, trams, buses, and other public transportation systems increasingly use smart cards, the public transportation sector is anticipated to expand significantly. The top producers provide their customers with NFC-enabled ticketing solutions, mixed automatic ticketing systems, etc. For example, Xerox Corporation provides cloud ticketing automated machine solutions for both small and large businesses.
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Asia Pacific dominated the global market in 2021. The continually increasing investment in commercial real estate in China and India, developing nations, is one of the main factors contributing to the region's dominant position on the market. Additionally, the region's accelerating urbanization and rising demand for public transportation are both positive signs for the local market. Increasing train passenger numbers and rising financial support for airport and commercial infrastructure renovations governmental bodies in this region are making significant investments in infrastructure projects and choosing to form alliances to obtain a competitive edge in the market. For instance, the Indian Railways introduced the one-touch ATVM at 42 suburban stations in October 2019 to enable quick ticketing for commuters in the Mumbai Suburban Network. The ATVMs run Linux-based software. For the replacement of ATVM machines, the union budget for 2022–2023 has set aside about USD 640 million. More than 1,000 ATVMs that were purchased in phases are present on both zonal railways.
Due to the significant presence of manufacturers of ticket vending machines in the member states of the European Union (EU), significant growth is anticipated in Europe. On the other hand, due to the rising demand for smart ticketing systems from the rural areas of the US and Canada, the North American market is anticipated to have a period of strong expansion.
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The global automatic ticket machine market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Players in the Global Automatic Ticket Machine Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global automatic ticket machine market analysis, in terms of payment type, the smart card payment segment held larger market share and is expected to develop significantly throughout the projection period because they provide advantages over cash payments, such as greater convenience, security, and less human handling of currency. In terms of application, the entertainment and gaming segment is held larger market share. This section provides just-in-time ticketing solutions, cutting down on the extra time needed. Additionally, smart ticketing solutions have expanded significantly due to the use of multimedia and the adoption of the Internet of Things (IoT).
|Market size value in 2021||USD 12.43 billion|
|Market size value in 2028||USD 25.39 billion|
|Growth Rate||more than 13.24%|
|Forecast period||2022- 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Automatic Ticket Machine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automatic Ticket Machine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG20D2017