Global Ticket Vending Machines Market Overview:
Ticket Vending Machine (TVM) is also known as Projected Capacitive Touchscreen Ticket Vending Machine. These machines are used to print paper or electronic tickets, recharge stored-value cards or smart cards or the user's mobile wallet. These machines are gradually becoming a predominant alternative to manned kiosks in order to reduce staffing costs and queueing times at public places such as in railway stations, bus stops, and other public transportation areas. For instance TVM dispense train tickets at railway stations or metro stations to avoid waiting time to passengers. The growing requirements for ticket management in public transport ticketing system has majorly boosted the market growth of ticket vending machine. According to AMA, the Global Ticket Vending Machines market is expected to see growth rate of 3.61%
- Passenger Requirements of a Public Transport Ticketing System
- Resistant to Intentional Damage
- Supports a Range of Payments
- Increasing Rate of Integration With Urban or Self-Service Systems
- Real Time Credit/Debit Card Transactions Cannot be Tested
- Unfriendly Ticket Vending Machine Interface and Design
- Development of Ticket Vending Machine for the Visually Impaired Persons
- Implementation of Ticket Vending Machine in Developing Countries for Mass Transport System
- Hesitation while Using Ticket Vending Machine Due to Illiteracy
The growing adoption of ticket vending machine in countries such as India is increasing their demand. The governments are using these machines to decrease the public waiting time on public transportation places is supporting market growth.
Some of the key players profiled in the report are Xerox (United States), AEP (United States), DUCATI Energia (Italy), Omron Corporation (Japan), Parkeon (France), Scheidt & Bachmann (United States), Genfare (United States), GRGBanking (China), ICA (Belgium), Wincor Nixdorf (German), IER Group (French), Sigma-Aldrich Corporation (United States), Potevio Group Corporation (China) and Shanghai Huahong Group Co Ltd (China). Analyst at AdvanceMarketAnalytics see North America and Europe Players to retain maximum share of Global Ticket Vending Machines market by 2025. Considering Market by Payment Type, the sub-segment i.e. Non-Cash Payment Type will boost the Ticket Vending Machines market. Considering Market by Monitor Type, the sub-segment i.e. LED will boost the Ticket Vending Machines market. Considering Market by Implementation, the sub-segment i.e. Underground will boost the Ticket Vending Machines market. Considering Market by Ticket Type, the sub-segment i.e. Designated Tickets will boost the Ticket Vending Machines market.
In September 2019, moBiel, the provider of public transport services in Bielefeld, Germany, has installed around 100 new ticket vending machines provided by Scheidt & Bachmann. These devices provide audio support for passengers with impaired vision.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Ticket Vending Machines market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Ticket Vending Machines market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes The manufacturers of ticket vending machine are focusing on developing and integrating new technological advancements in the product. These developments coupled with competitive pricing are likely to assist in increasing market share over the forecast period. Besides, these key players are investing heavily in research & development to enhance their product quality and features to maintain their market presence in altering consumer buying preferences..
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.