Passenger Ticket Vending Machine Market Size to Grow by $ 140.92 mn through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the passenger ticket vending machine market and it is expected to grow by $ 140.92 mn, accelerating at a CAGR of almost 5% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Passenger Ticket Vending Machine Market: Emerging Trends to Impact Market Growth
Retrofitting of tvms to emerge as a key trend in the industrial passenger ticket vending machine market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Passenger Ticket Vending Machine Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 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. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
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Technavio has been monitoring the global passenger ticket vending machine market and it is expected to grow by $ 140.92 million, progressing at a CAGR of almost 5% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
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North America to lead market growth but APAC, Europe, and MEA regions to gather traction during the forecast period
32% of the market growth will originate from North America during the forecast period. The US is one of the key markets for passenger ticket vending machine in North America. Market growth in this region will be slower than the growth of the market in APAC, Europe, and MEA. The increasing number of passengers in countries such as China and India and the growing investments in the transformation of the transportation infrastructure will facilitate the passenger ticket vending machine market growth in North America over the forecast period.
Railways are an important mode of transportation for passengers as railway tracks run across the countries, and are thus instrumental in connecting one region to another. TVMs are designed to provide rail passengers with the opportunity to make easy and quick ticket purchases at the train station. The need to print tickets has reduced due to the introduction of the TVMs which has eliminated the cost of overheads. The growth of the market segment is expected to be significant during the forecast period.
Passenger Ticket Vending Machine Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 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. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
For more insights on this market: Download a Free Sample Report
Passenger Ticket Vending Machine Market: Key Highlights of the Report for 2021-2025
