Global Automatic Ticket Machine Market

Automatic Ticket Machine Market Size, Share, Growth Analysis, By Payment Type(Smart Card Payment, Cash Payment, Others), By Application(Public Transport, Entertainment, Gaming, Others), By Region - Industry Forecast 2024-2031


Report ID: SQSG20D2017 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 64 | Figures: 75

Automatic Ticket Machine Market Dynamics

Automatic Ticket Machine Market Driver

  • Growth in the market is anticipated to be fuelled by the expanding tourism sector, an aging population, and the pervasive smart city trend. In the upcoming years, product penetration will be aided by the growing need for connected devices. Additionally, widespread implementation of automatic ticket machines across a variety of verticals, including transportation, sports & entertainment venues, etc., has been sparked by increased awareness of these devices across various end-use sectors, which will further support market growth over the projection period.
  • The time-saving aspect of the ticket machine is that it operates on its own at most locations. The requirement to print the tickets has decreased as a result of the advent of the ticket machine. Additionally, the expense of overhead, transportation, and account teams to oversee the process has been avoided. The ticket machines have already received the data, and at the conclusion of the day, they are synchronized with the depot or the station.

Automatic Ticket Machine Market Restraint

  • Installation of passenger ticket vending machine companies entails high costs, which include setting up communication networks (wired networks) and installing network equipment (all types of networks), repairing installed system hardware, fine-tuning, and testing system hardware, as well as system component interaction. Handheld collecting devices are needed by bus transportation service providers, however, considerably larger infrastructure is needed for subway and train systems. This raises installation costs generally, which slows the market's expansion.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Automatic Ticket Machine Market size was valued at USD 12.3 Billion in 2019 and is poised to grow from USD 14.08 Billion in 2023 to USD 38.06 Billion by 2031, at a CAGR of 13.20 % during the forecast period (2024-2031).

The 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. 'Siemens AG (Germany)', 'Thales Group (France)', 'Cubic Corporation (United States)', 'Xerox Corporation (United States)', 'NCR Corporation (United States)', 'Diebold Nixdorf, Incorporated (United States)', 'Scheidt & Bachmann GmbH (Germany)', 'Toshiba Corporation (Japan)', 'Parkeon (France)', 'Omron Corporation (Japan)', 'Gemalto NV (Netherlands)', 'Wincor Nixdorf AG (Germany)', 'Keolis Group (France)', 'Flowbird Group (France)', 'Genfare (United States)', 'Giesecke+Devrient GmbH (Germany)', 'Hitachi, Ltd. (Japan)', 'INIT GmbH (Germany)', 'Paragon ID (France)', 'Scheidt & Bachmann USA, Inc. (United States)'

Growth in the market is anticipated to be fuelled by the expanding tourism sector, an aging population, and the pervasive smart city trend. In the upcoming years, product penetration will be aided by the growing need for connected devices. Additionally, widespread implementation of automatic ticket machines across a variety of verticals, including transportation, sports & entertainment venues, etc., has been sparked by increased awareness of these devices across various end-use sectors, which will further support market growth over the projection period.

The primary metrics used to evaluate automatic ticket machines are speed, efficiency, security, and convenience. Future market demands would necessitate multi-modal services that could be accessed via a single form factor (smart card, chip paper ticket, mobile phone, or wearable). Such multifunctional gadgets would have to integrate security capabilities, payment options, speed, and contactless ticketing system performance. Therefore, the industry would be driven by new, quicker, and more dependable solutions with security features that provide greater protection for user data.

Asia Pacific dominated the 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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Automatic Ticket Machine Market

Report ID: SQSG20D2017

$5,300
BUY NOW GET FREE SAMPLE