Global Passenger Ticket Vending Machine Market to grow at a CAGR of 4.06% during the period 2017 - 2021; Finds New Report

Report forecast the global passenger ticket vending machine (TVM) market to grow at a CAGR of 4.06% during the period 2017-2021.

A ticket machine, also known as a Ticket Vending Machine (TVM), is a vending machine, which produces tickets. Passenger ticket machines dispense tickets at railway stations, subway stations, bus stations, and airports. A typical transaction in TVMs consists of a passenger user using the display interface to select the quantity and type of tickets. Following this, the passenger selects a payment method, which can be either cash, smartcard or credit/debit card. The tickets are printed and dispensed to the passenger user.

The report covers the present scenario and the growth prospects of the global passenger ticket vending machine (TVM) market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

• Americas
• APAC
• EMEA

According to the report, one driver in the market is increasing cashless vending by NFC technology. Cashless payments in vending machines increased at a significant rate of 35%-40% during 2014-2016. This growth is mainly due to the customers’ current preference to pay for their purchases by mobile devices or credit and debit cards instead of paying by cash. To increase their sales, companies are installing vending machines that accept credit or debit cards and mobile payments. In places, such as railway stations, metro stations, and subway stations, cashless TVMs are becoming popular. As a result, cashless vending is expected to drive the global passenger TVM market.

Further, the report states that one challenge in the market is high initial investment in TVMs. Transport operators require a huge capital investment for procuring the software and hardware of TVM. The TVM software and hardware are customized according to the needs of the end-users. Such customization is generally outsourced by vendors to various manufacturers and third-party software developers that involve huge costs. The cost of manufacturing a TVM is also high, as there is huge cost-based competition among vendors. To sustain and maintain their presence in the TVM manufacturing market, vendors must launch innovative products that require huge R&D investment.

Global Passenger Ticket Vending Machine (TVM) Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global passenger ticket vending machine (TVM) market: innovation in traffic systems, Omron, Parkeon, Scheidt & Bachmann, and Xerox.

Other Prominent Vendors in the market are: AEP, DUCATI Energia, Genfare, GRGBanking, ICA, IER, Sigma, and Shanghai Huahong.

Market driver

• Increasing cashless vending by NFC technology
• For a full, detailed list, view our report

Market challenge

• High initial investment in TVMs
• For a full, detailed list, view our report

Market trend

• Emergence of distinct connected TVM
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?

Spanning over 84 pages “Global Passenger Ticket Vending Machine (TVM) Market 2017 - 2021” report covers Executive summary, Introduction, Scope of the report, Research Methodology, Market landscape, Market Segmentation By Application, Regional Landscape, Decision Framework, Drivers And Challenges, Market Trends, Key Vendor Analysis, Appendix.

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