Global Automatic Ticket Machine Market

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

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

Automatic Ticket Machine Market Insights

Global 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).

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.

US Automatic Ticket Machine Market is poised to grow at a sustainable CAGR for the next forecast year.

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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.

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Global Automatic Ticket Machine Market

Product ID: SQSG20D2017