Ticket Vending Machines (TVM) Market Size, Share, Growth, And Industry Analysis, By Type (Non-cash Payment Type, Cash Payment Type), By Application (Subway Stations, Railway Stations, Bus Stations), and Regional Forecast From 2024 To 2032

Ticket Vending Machines (TVM) Market Report Overview

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The global ticket vending machines (TVM) market size was 21260 million in 2020 and is expected to reach USD 33348.46 million by 2032, at a CAGR of 4.0% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the Ticket Vending Machines (TVM) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

An automated kiosk known as a ticket vending machine (TVM) is used to sell tickets for public transportation, including buses, subways and trams. In crowded areas like railway stations, airports, and downtown areas, TVMs are frequently observed. They offer a practical means for customers to buy tickets without having to stand in queue.

The market expansion is attributable to the rise in popularity of efficient and practical modes of transportation, such as train, bus, and subway stations. The market for ticket vending machines worldwide is expanding as a result of the increased acceptance of cashless payments. Due to its benefits like convenience and security, the non-cash payment type segment is anticipated to rule the worldwide ticket vending machines market throughout the forecast period. The size of the worldwide CPT market was estimated at $1,849. A ticket vending machine uses smart cards, cash, coins, or NFC technology to automatically print electronic or paper tickets. At airports, train stations, bus stops and tube stations, ticket vending machines produce fare tickets. This time-effective ticketing solution removes the need for lengthy lines at public transit hubs, making it an operationally efficient alternative to standard ticketing systems. Changes in urban commuter attitudes and greater acceptance of digital technology are the main factors propelling growth of the worldwide market for passenger ticket vending machines. Additionally, the demand for passenger ticket vending machines is directly impacted by the introduction of smart technology in the sphere of public transportation.

COVID-19 Impact

"COVID-19 pandemic leading detrimental effect on market growth"

Due to commuting limits, a bleak demand forecast, and anticipated subpar financial performance of market participants in 2020, the COVID-19 pandemic's propagation has had a detrimental effect on the worldwide passenger ticket vending machine business. Passengers are increasingly turning to digital payment solutions to complete contactless payment operations, which has resulted in a significant shift in the global payment ecosystem. The coronavirus epidemic has had an impact on public transport. Contactless and automated payment systems will acquire traction in the following ten years due to the post-COVID-19 environment, increased health concerns, and adoption of digital technology.

Latest Trends

"Digital payment method technological developments are preparing the way for future industry growth"

Manufacturers compete in the market based on factors including machine innovation, delivery speed, reliability, and after-sales services. Prominent players are concentrating more on machine innovation with the aid of technical advancements like radio frequency identification (RFID), the Zigbee method, and near-field communication (NFC) technology in order to get a competitive edge. It is said that these new technologies are essential elements of the product offers. They provide proactive maintenance help and remote monitoring that track the appropriate operation and pinpoint any issues with automated ticket machines. These cutting-edge innovations support automated ticket creation, drawing in more travellers. These technologies also lessen the likelihood of operational failure thanks to remote monitoring services. In the end, they give producers the ability to boost system uptime and do away with overhead shipping expenses.

Ticket Vending Machines (TVM) Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into non-cash payment type, cash payment type. Non-cash payment type is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into subway stations, railway stations, bus stations. Subway Stations will be the dominating segment.

Driving Factors

"Rising demand for ticket vending machines as smart cards and contactless payments become more popular propel the market growth"

One of the key drivers behind the expansion of the worldwide ticket vending machine market is the rising use of contactless payment methods including credit cards, debit cards, and smartphone payment applications. Contactless payments also help to lower labor costs and promote more productive management, which furthers market expansion. Additionally, the government is making a significant contribution to fostering the expansion of digital payments by enacting a number of incentives. As a result, the increasing use of digital payments is considerably fueling the expansion of passenger vending machines that accept cashless payments. The use of a passenger ticket vending machine eliminates the need for cash payments and worries about linguistic barriers between drivers and passengers, enabling hassle-free smartcard payment. To facilitate speedier transactions, more efficient payment handling, and shorter processing times, helpful data is acquired each time a card is swiped and added right away to a database. Furthermore, it enables shops to effectively handle data and cope with massive quantities of transactions. Additionally, quicker transaction confirmation enables employees to swiftly produce fare tokens and tickets. The market is growing as a result of the passenger ticket vending machine's increased efficiency in fare box collection and commuters' convenience.

"Market's expansion is being supported by the rising popularity of automatic ticket machines with digital payment options"

To ease the high traffic at the ticket counters, influential firms are merging ATMs with digital payment systems. To obtain real-time customer data, they are also continuously introducing digital payment solutions. The unexpected increase in passengers using trains and aero planes all over the world has contributed to the surge in popularity of automated tickets produced by smart cards. E-tickets created using digital payment methods are also being widely used in the entertainment industry in nations like India, Hungary, South Africa, Malaysia, Indonesia, and others. This is due to the widespread adoption of touchscreen-based ticketing kiosks in the entertainment and gaming, public access point, and public transportation sectors. End users are now able to create paper tickets or electronic tickets. For instance, the Indian government introduced the "One Nation One Card" for transit mobility in March 2019. End users can use the card for retail transactions as well as for suburban train, metro, bus, and parking trips.

Restraining Factors

"Failure of the operational network is impeding market expansion"

Due to the enormous volume of daily travellers and a lack of security, the public transportation industry is having trouble finding funds to maintain computerized ticket machines. Additionally, as machines need a strong internet connection to do numerous tasks at once, the issue of network connectivity prevents their installation. Furthermore, the infrastructural facilities in retail outlets, multi-specialty hubs, and the transportation industry are put to the test by the abrupt failure of automated ticket machine units. The term "sudden breakdown" describes a loss of network connectivity and an outage brought on by incorrect use.

Ticket Vending Machines (TVM) Market Regional Insights

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"Asia-Pacific is predicted to be the dominating region during forecast period"

The market in Asia-Pacific is best positioned to dominate market share. It is attributable to a variety of variables, including steadily rising passenger train traffic, an increase in people using buses, and impending airport and commercial infrastructure improvement projects. The need for ATMs in theatres, shops, etc. is being met by several regional players. Customers now choose larger displays and better information presentation as a result of this. Additionally, the need for automatic ticket vending machines has been sparked by the developing economies of nations like Malaysia, Thailand, India, and others. In order to get a competitive edge in the market, governmental entities are substantially investing in the construction of infrastructure projects and choosing to form partnerships. For instance, Indian Railways introduced "one-touch touch ATVM" at 42 urban stations in Mumbai in October 2019 to provide passengers with quick ticketing. Furthermore, it is anticipated that the market would be driven by the growing installation of ATVMs for parking automobiles.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP TICKET VENDING MACHINES (TVM) COMPANIES

• Parkeon (France)
• Genfare (U.S.)
• Omron (Japan)
• Scheidt & Bachmann (U.K.)
• ICA Traffic (Germany)
• DUCATI Energia (India)
• Sigma (U.S.)
• GRG Banking (China)
• AEP (U.S.)
• Beiyang (China)
• Potevio (China)
• Shanghai Huahong (China)
• Shenzhen Seaory Technology (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.