Pune, India, April 18, 2023 (GLOBE NEWSWIRE) -- The automatic ticket machine market size to hit USD 6.31 billion by 2027. The global market size was valued USD 2.36 billion in 2019. Increasing demand for automated ticketing solutions, advancements in technology, the trend towards self-service and automation, cost-effectiveness, and the focus on improving customer experience to drive the growth of market during forecast period. The increasing dependence of urban commuters on metros will create a new growth avenue for this market.
Key Industry Development:
US-based Rambus and the German semiconductor specialist, Infineon Technologies, partnered with each other to develop and promote smart ticketing solutions based on mobiles and smart cards to enhance the potential of mobility services. The companies will unify their expertise on the smart card and mobile ticketing standard, CIPURSE™, to provide wide choice of ticketing solutions to end-users.
The American transportation company, Cubic Corporation, was awarded a contract worth USD 4 million by Ireland’s National Transport Authority (NTA) for the delivery of a mobile ticketing solution for the country. The system provided by Cubic is low-risk and scalable and designed with the capability of allowing customers to purchase tickets from multiple public transport operators.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast Period 2020 to 2027 CAGR | 13.2% |
| 2027 Value Projection | USD 6.31 Billion |
| Base Year | 2018 |
| Market Size in 2019 | USD 2.36 Billion |
| Historical Data for | 2016-2018 |
| No. of Pages | 120 |
| Segments covered | By Payment Type, By Application and By Region |
| Growth Drivers | Increased Popularity of Automatic Ticket Machines with Digital Payment Options is Upholding the Market Growth |
| Failure of Operational Network is Causing Hindrance to the Market Growth |
COVID-19 Impact
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Key Takeaways:
- Technological Development in Digital Payment Options is Laying Foundation for Future Market Growth
- Smart Card Payment Type to Experience High Demand
- Entertainment & Gaming Segment to Boost the Market
- Cubic Corporation to Focus on Providing Integrated Systems for Traffic and Transportation Management
- Prominent Players Are Opting for Mergers with Government Associations and Firms to Offer E-tickets to End-Users
Market Drivers & Restraints:
Failure of Operational Network is Causing Hindrance to the Market Growth
The public transport sector is facing an issue of investing money on automatic ticket machines’ maintenance, owing to the huge number of daily travelling passengers and lack of security. Additionally, the problem of network connectivity impedes the installation of machines as they require a strong internet connection to perform multiple functions at a time. Furthermore, the sudden breakdown of automated ticket machine units challenges the infrastructure facilities across commercial stores, multi-specialty hubs, and the transport sector. Sudden breakdown refers to network connectivity failure and outage caused by improper usage.
According to the Belgium-based International Association of Public Transport (UITP), by the end of 2017, metro systems across 178 countries were carrying an average 168 million passengers per day. The total yearly ridership in 2017 stood at 53,768 million passengers. Surging number of passengers in urban areas will necessitate efficient systems powered by modern technologies to ensure that the flow of commuters is managed smoothly with minimal disruptions. In this respect, automatic ticket machines (ATMs) provide the optimal solution as they eliminate the need for human monitoring and intervention, freeing up resources for more productive uses.
Thus, more investment is required to improve the network connectivity for uninterrupted utilization of automatic ticket machines.
The other highlights of the report include:
- Accurate computation of market figures;
- Comprehensive analysis of the factors, trends, and restraints shaping the size, share, and growth of the market;
- Careful study of market segments; and
- Detailed examination of the regional dynamics and competitive milieu of the market.
List of Key Players Present in the Market:
- SBB (Bern, Switzerland)
- HID Global Corporation/ASSA ABLOY AB (California, U.S.)
- Almex Transport (Durban, South Africa)
- Scheidt & Bachmann GmbH (Mönchengladbach, Germany)
- Infineon Technologies AG (Neubiberg, Germany)
- Xerox Corporation (Connecticut, U.S.)
- Diebold Nixdorf, Incorporated (Ohio, U.S.)
- Cubic Corporation (California, U.S.)
- Gemalto NV (Amsterdam, Netherlands)
- NXP Semiconductors (Eindhoven, Netherlands)
- CPI Card Group Inc. (Colorado, U.S.)
- Parkeon (Paris, France)
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Regional Insights:
Growing Investments in Commercial Infrastructure to Fuel the Market in Asia-Pacific
Generation of USD 0.75 billion in revenue in 2019 has put Asia-Pacific in an advantageous position to dominate the automatic ticket machine market share during the forecast period. One of the chief reasons for the region’s commanding hold on the market is the steadily rising investment in commercial spaces in the developing countries of China and India. In addition, there is an increasing preference for public transport in the region, underpinned by accelerating urbanization in the region, both of which augur well for the regional market.
In Europe, substantial growth is foreseen owing to the strong presence of ticket vending machines manufacturers in the European Union (EU) member-states. On the other hand, the market in North America is set to experience a period of healthy growth on account of growing demand for smart ticketing systems from the rural areas of the US and Canada.
Competitive Landscape:
Tie-ups between Players and Government Bodies to Characterize Market Competition
Competition in the market for automatic ticket vending machines is centered round the increasing number of collaborations among key players and government authorities. These tie-ups are enabling market players to strengthen their position, while governments are leveraging private sector capabilities to make transport systems more efficient.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- COVID-19 Outbreak: Impact on Automatic Ticket Machine Industry
- Global Automatic Ticket Machine Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Payment Type
- Smart Card Payment
- Cash Payment
- Mobile Payment
- By Application (Value)
- Public Transport (Air, Rail, Bus)
- Entertainment & Gaming
- Others (Bank, Parking Area)
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Payment Type
- North America Automatic Ticket Machine Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Payment Type
- Smart Card Payment
- Cash Payment
- Mobile Payment
- By Application (Value)
- Public Transport (Air, Rail, Bus)
- Entertainment & Gaming
- Others (Bank, Parking Area)
- By Country (Value)
- U.S.
- Canada
- By Payment Type
- Europe Automatic Ticket Machine Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Payment Type
- Smart Card Payment
- Cash Payment
- Mobile Payment
- By Application (Value)
- Public Transport (Air, Rail, Bus)
- Entertainment & Gaming
- Others (Bank, Parking Area)
- By Payment Type
TOC Continued…!
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FAQ’s
How big is the Automatic Ticket Machine Market?
The global Automatic Ticket Machine Market size was estimated at USD 2.36 billion in 2019 and is expected to reach USD 6.31 billion in 2027
What is the Automatic Ticket Machine Market growth?
The global Automatic Ticket Machine Market is expected to grow at a compound annual growth rate (CAGR) of 13.2% from 2020 to 2027 to reach USD 6.31 billion by 2027
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