Press release
Global Automatic Ticket Machine Market to Reach USD 25.39 Billion by 2028
According to the latest research by SkyQuest Technology, the Global Automatic Ticket Machine Market was valued at USD 12.43 billion in 2021, and it is expected to reach USD 25.39 billion by 2028, with a CAGR of 13.24% during the forecast period of 2022 - 2028. The research provides up-to-date Automatic Ticket Machine market analysis of the current market landscape, latest trends, drivers, and overall market environment.A passenger ticket vending machine is an automated method of creating electronic or paper tickets using smart cards, money, coins, or NFC technology. The production of fare tickets is done by ticket vending machines at airports, train stations, bus stops, and subway stations. When compared to traditional ticketing systems, it is a time-saving ticketing solution that does away with the need for lengthy lines at transportation hubs. The change in urban commuter outlook and the rise in digital technology adoption are the two key trends propelling the growth of the global market for passenger ticket vending machines.
Additionally, the demand for passenger ticket vending machines is directly impacted by the introduction of smart technologies in the field of public transportation.
Governments all over the world prefer open standard-based platforms over proprietary platforms in order to increase productivity, performance, and interoperability. To participate in the standardization process, all industry participants are welcome to join the standardization body. Open standard products are certified by independent organizations. As a result, open standards uphold just and clear terms and conditions. Products that are reasonably priced, interoperable, non-proprietary, based on open standards, scalable, able to handle tickets, identification, micropayments, and mobile payments, as well as being cost-effective, are predicted to hasten market expansion.
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Read Market Research Report, "Global Automatic Ticket Machine Market By Payment Type (Smart Card Payment, Cash Payment, Others), Application (Public Transport, Entertainment and Gaming, Others), and Region -Forecast and Analysis 2022-2028" by SkyQuest
Automatic ticket machine market will likely be dominated by Asia Pacific. One of the main factors influencing the region's dominant position on the market is the steadily rising investment in commercial real estate in the developing nations of China and India. Further encouraging factors for the local market are the area's quickening urbanisation and rising demand for public transportation. Rising financial support for airport and commercial infrastructure renovations and rising train passenger numbers In order to gain a competitive edge in the market, regional governments are investing a lot of money in infrastructure projects and deciding to join forces. For instance, the Mumbai Suburban Network commuters can now purchase tickets quickly thanks to the Indian Railways' introduction of the one-touch ATVM at 42 suburban stations in October 2019. ATVMs are powered by Linux-based software. Europe is expected to experience tremendous growth as a result of a large number of ticket vending machine manufacturers in European Union countries. On the other hand, the North American market is predicted to see a period of rapid growth due to the increased popularity of smart ticketing systems from the rural places of the US and Canada.
Prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are HID Global Corporation/ASSA ABLOY AB, Scheidt & Bachmann GmbH, Infineon Technologies AG, Diebold Nixdorf, Incorporated, NXP Semiconductors among others.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Automatic Ticket Machine Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
Report Findings
● Drivers- The ticket machine operates autonomously at the majority of locations, which saves time. The introduction of the ticket machine has reduced the need for printed tickets. The cost of overhead, transportation, and account teams to supervise the process have also been avoided. When the day is over, the ticket machines are synchronized with the depot or the station because they have already received the data.
● Restraint- The installation of passenger ticket vending machine businesses entails high costs, including setting up communication networks (wired networks) and installing network equipment (all types of networks), fixing installed system hardware, tuning and testing installed system hardware, as well as system component interaction. Bus transportation companies require portable collecting devices, but subway and train systems require a much larger infrastructure. As a result, installation costs generally increase, slowing the market's growth.
What does this Report Deliver?
• Market Estimation for 20+ Countries
• Automatic Ticket Machine Market demand by Region, Sub-Region, and Country
• Customization on Segments, Regions, and Company Profiles
• 100+ tables, 150+ Figures
• Global, Regional and Country specific Automatic Ticket Machine Market Trends
• Comprehensive Mapping of Automatic Ticket Machine Industry Parameters
• Attractive Investment Proposition in the Global Automatic Ticket Machine Industry
• Competitive Strategies Adopted by Automatic Ticket Machine Market Key Players
• Drivers, Restraints, Opportunities, Challenges and the impact on the Automatic Ticket Machine Market Size
• Market growth rate till 2028
• Regulatory scenario, regional dynamics, and Automatic Ticket Machine market insights of leading countries in each region
• In-depth Market insights by Region and Country
• Market Segmentation Trend Analysis, Opportunities and Growth
• Porter's five force analysis to know the market's condition
• Pricing Analysis and Automatic Ticket Machine Market Sales
• Parent market analysis
• Product portfolio benchmarking
SkyQuest has segmented the Global Automatic Ticket Machine Market based on Payment Type, Application, and Region:
● Global Automatic Ticket Machine Market by Payment Type (Revenue, USD billion, 2022 - 2028)
o Smart Card Payment
o Cash Payment
o Other
● Global Automatic Ticket Machine Market by Application (Revenue, USD billion, 2022 - 2028)
o Public Transport
o Entertainment and Gaming
o Others
● Global Automatic Ticket Machine Market By Region (Revenue, USD billion, 2022 - 2028)
o North America
▪ US
▪ Canada
o Europe
▪ Germany
▪ France
▪ UK
▪ Italy
▪ Spain
▪ Rest of Europe
o Asia Pacific
▪ China
▪ India
▪ Japan
▪ Rest of Asia Pacific
o Central & South America
▪ Brazil
▪ Rest of CSA
o Middle East & Africa
▪ GCC Countries
▪ South Africa
▪ Rest of MEA
Speak with our analyst for more information:
https://skyquestt.com/speak-with-analyst/automatic-ticket-machine-market
Key Players in the Global Automatic Ticket Machine Market
● SBB (Switzerland)
● HID Global Corporation/ASSA ABLOY AB (US)
● Almex Transport (South Africa)
● Scheidt & Bachmann GmbH (Germany)
● Infineon Technologies AG (Germany)
● Xerox Corporation (US)
● Diebold Nixdorf, Incorporated (US)
● Cubic Corporation (US)
● Gemalto NV (Netherlands)
● NXP Semiconductors (Netherlands)
● CPI Card Group Inc. (US)
● Parkeon (France)
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Phone:
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Email: sales@skyquestt.com
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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