Passenger Ticket Vending Machine Market Size Worth USD 1.11 billion By 2030 | Growth Rate (CAGR) of 4.4%

By input type, smart card segment is projected to lead the global market in terms of market share by the end of the forecast period. WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 29, 2024 /EINPresswire.com/ -- The global 𝐏𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐓𝐢𝐜𝐤𝐞𝐭 𝐕𝐞𝐧𝐝𝐢𝐧𝐠 𝐌𝐚𝐜𝐡𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 was valued at $0.73 billion in 2020, and is projected to reach $1.11 billion by 2030, registering a CAGR of 4.4%. Less manpower cost & operational time, enhanced efficiency, and improved transport infrastructure and security system drive the growth of the global passenger ticket vending machine market. However, high cost of operation and maintenance hinder the market growth. On the other hand, increase in digital payments and surge in agreements and contracts with rail operators present new opportunities in the coming years.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 272 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A13631

Growth of the global passenger ticket vending machines market size is driven by surge in need for smart technology enabled ticketing system to operate public transportation activities seamlessly and time effective operations. Smart card-based passenger ticket vending machine has witnessed leading market share and is expected to witness dominated market share by end of the forecast period. In addition, market participants are entering into long term agreements and contracts with rail operators to gain competitive advantage in the global market.

Based on component, the hardware segment held the largest share in 2020, accounting for more than three-fifths of the global passenger ticket vending machine market, and is expected to maintain its lead position throughout the forecast period. This is attributed to surge in demand for on-board efficient and quick fare payment devices. However, the software segment is expected to witness the highest CAGR of 5.5% from 2021 to 2030. This is due to rise in dependency on the cloud-based system by public transportation providers.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/passenger-ticket-vending-machine-market/purchase-options

Based on region, Europe, followed by North America, contributed to the highest market share in 2020, accounting for nearly one-third of the global passenger ticket vending market, and is expected to continue its leadership status by 2030. In addition, this region is estimated to portray the largest CAGR of 5.5% during the forecast period. This is attributed to presence of a strong public transportation network and rise in adoption of the smart technologies across the region.

Based on application, the subway stations segment accounted for the highest share in 2020, contributing to more than one-fourth of the global passenger ticket vending machine market, and is expected to continue its dominant share in terms of revenue during the forecast period. Moreover, this segment is estimated to manifest the fastest CAGR of 5.0% from 2021 to 2030. This is due to changing urban commute requirements and growing number of metro projects. The report also analyzes the segments including railway stations, bus stations, and airports.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐎𝐌𝐑𝐎𝐍 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐓𝐇𝐀𝐋𝐄𝐒 𝐆𝐑𝐎𝐔𝐏, 𝐈𝐂𝐀 𝐂𝐡𝐢𝐩𝐤𝐚𝐫𝐭𝐞𝐧𝐬𝐲𝐬𝐭𝐞𝐦𝐞 𝐆𝐦𝐛𝐇 & 𝐂𝐨. 𝐊𝐆, 𝐒𝐜𝐡𝐞𝐢𝐝𝐭 & 𝐁𝐚𝐜𝐡𝐦𝐚𝐧𝐧 𝐆𝐦𝐛𝐇, 𝐗𝐞𝐫𝐨𝐱 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐀𝐄𝐏 𝐓𝐢𝐜𝐤𝐞𝐭𝐢𝐧𝐠 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐒.𝐫.𝐥., .𝐅𝐋𝐎𝐖𝐁𝐈𝐑𝐃, 𝐃𝐔𝐂𝐀𝐓𝐈 𝐄𝐍𝐄𝐑𝐆𝐈𝐀 𝐒𝐏𝐀, 𝐒𝐢𝐠𝐦𝐚 𝐒.𝐩.𝐀, 𝐈𝐧𝐢𝐭 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐫𝐚𝐟𝐟𝐢𝐜 𝐬𝐲𝐬𝐭𝐞𝐦𝐬 𝐒𝐄

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A13631

Spread of the COVID-19 pandemic has negatively impacted the global passenger ticket vending machines market. Expected weak business performance of the market players directly impacts overall sales of the system and service of passenger ticket vending machine. In the post COVID-19 situation in the near future, high health concern and penetration of digital technologies, contactless and automated payment system is going to gain momentum in the upcoming decade. In the current COVID-19 health crisis, unprecedented times call for creative solutions, and the payments technology industry offers many different opportunities to people to support each other as well as the communities in a safe and effective manner with little to no physical contact.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A13631

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

By component, the software segment is expected to register significant growth during the forecast period.

By input type, smart card segment is projected to lead the global market in terms of market share by the end of the forecast period.

By application, the subway stations segment is projected to lead the global market, in terms of market share, by the end of the forecast period.

By region, Europe dominated the global passenger ticket vending machine market in 2020 in terms of market share.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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