The global automatic ticket vending machine market is anticipated to grow at a significant CAGR of 13.2% during the forecast period. The rise in the introduction of automatic ticket vending machines (ATVMs) by governmental bodies to minimize public gatherings and reduce the transaction time and waiting time of passengers to bolster the market growth. For instance, in 2019, the Government of India, Ministry of Railways, launched a One-touch ticketing facility through ATVMSs in 486 ATVMs over Western Railway and 92 ATVMs over Central Railway in Mumbai Suburban Railway Network. In One-touch ATVMs, unreserved tickets can be bought for 20 select destination stations and passengers can get the ticket within 6 seconds. These initiatives taken by governmental bodies for the introduction of ATVMs to render fast ticketing are driving the growth of the global automatic ticket vending machine market.
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Impact of COVID-19 Pandemic on Global Automatic Ticket Vending Machine Market
The COVID-19 pandemic has caused complete disorder in global supply chains which resulted in several trade barriers all over the world. The spread of the COVID-19 pandemic has negatively impacted the global Automatic Ticket Vending Machine Market, due to restrictions imposed by the government of different regions. Due to supply chain execution and stoppage of public transport ATVM machines were suspended for a brief period. However, the upliftment of lockdown and relaxation of restrictions has restarted the service again to make the ticketing process convenient for commuters.
Segmental Outlook
The global automatic ticket vending machine market is segmented based on the type, and application. Based on the type, the market is segmented into cash payment types and non-cash payment types. Further, based on application, the market is sub-segmented into cinema, railway stations, subway stations, bus stations, airports, and others. Among the application segment, the railway stations sub-segment is expected to cater to a prominent market share over the forecast period. However, the bus stations segment is showing lucrative growth in the market.
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Market Coverage
- Segment Covered-
o By Type
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Cubic Transportation Systems, FLOWBIRD, HID Global Corp., init innovation in traffic systems SE, Scheidt & Bachmann GmbH, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automatic Ticket Vending Machine Market Report Segment
By Type
- Cash Payment Type
- Non-Cash Payment Type
By Application
- Cinema
- Railway Stations
- Subway Stations
- Bus Stations
- Airport
- Others
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