Glоbаl Passenger Ticket Vending Machine Маrkеt by Application, by Rеgіоn аnd Кеу Соmраnіеѕ - Іnduѕtrу Ѕеgmеnt Оutlооk, Маrkеt Аѕѕеѕѕmеnt, Соmреtіtіоn Ѕсеnаrіо, Тrеndѕ аnd Fоrесаѕt 2020–2024 | Technavio

The new passenger ticket vending machine market research from Technavio indicates Negative growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global Passenger Ticket Vending Machine Market 2020-2024 (Graphic: Business Wire)

Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the passenger ticket vending machine market.

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"One of the primary growth drivers for this market is the affordable access to smart transit systems,” says a senior analyst for Industrials at Technavio.

A smart transit system is an integration of TVM, fare collection, and smart gating systems that can collectively manage passenger flow during peak hours. Moreover, the deployment of smart ticketing technology will aid in self-luggage handling and self-boarding, which will assist airport authorities in handling critical operations at peak hours. Owing to these beneficial factors, governments of several countries in APAC are already focusing on deploying smart transit systems. As a result, the market is expected to grow significantly during the forecast period.

As the markets recover Technavio expects the passenger ticket vending machine market size to grow by USD 106.64 million during the period 2020-2024.

Passenger Ticket Vending Machine Market Segment Highlights for 2020

• The passenger ticket vending machine market is expected to post a year-over-year growth rate of 2.23%.
• The growing global railway passenger traffic is expected to drive the passenger ticket vending machine market share growth by the railway stations segment during the forecast period.
• However, the COVID-19 pandemic has considerably affected passenger rail with a large decrease in traffic and will also have long-term effect.

Regional Analysis

• 32% of the growth will originate from the APAC region.
• Factors such as the increasing number of passengers in countries such as China and India and the growing investments in the transformation of the transportation infrastructure will significantly drive passenger ticket vending machine market growth in this region over the forecast period.
• China and Japan are the key markets for passenger ticket vending machines in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Global Commercial Airlines Market: The commercial airlines market size has the potential to grow by USD 184.19 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth. To get extensive research insights: Click and Get FREE Sample Report in Minutes!

Notes:

• The passenger ticket vending machine market size is expected to accelerate at a CAGR of almost 4% during the forecast period.
• The passenger ticket vending machine market is segmented by Application (Railway stations, Subway stations, Bus stations, and Airports) and Geography (North America, Europe, APAC, MEA, and South America).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including AEP Ticketing Solutions Srl, DUCATI Energia SPA, Flowbird SAS, ICA Chipkartensysteme GmbH, init SE, OMRON Corp., Scheidt & Bachmann GmbH, Sigma Spa, SPX Corp., and Xerox Corp.

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