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Passenger Ticket Vending Machine Market to Reach $1.11 Bn, Globally, by 2030 at 4.4% CAGR: Allied Market ResearchLow manpower cost & operational time, improvement in efficiency, and better transport infrastructure and security system as compared to existing ones drive the global passenger ticket vending machine market growth PORTLAND, Ore., Oct. 4, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Passenger Ticket Vending Machine Market by Component (Hardware, and Software), Input Type (Smart Card, Near Field Communications, and Others), and Application (Railway Stations, Subway Stations, Bus Stations, and Airports): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global passenger ticket vending machine industry generated $0.73 billion in 2020, and is estimated to reach $1.11 billion by 2030, witnessing a CAGR of 4.4% from 2021 to 2030.  Drivers, restraints, and opportunities 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 Report (272 Pages PDF with Insights, Charts, Tables, Figures) at https://alliedmarketresearch.com/request-sample/14000 Covid-19 Scenario
Request for Customization at https://www.alliedmarketresearch.com/request-for-customization/14000 The hardware segment to maintain its lead position throughout the forecast period 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. The subway stations segment to continue its dominant share in terms of reveue by 2030 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. Interested to Procure the Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/14000 Europe, followed by North America, to continue its leadership status by 2030 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. Leading market players
Schedule a FREE Consultation Call with Our Analysts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/14000 Similar Reports We Have on Automotive Industry: Automated Fare Collection System Market by Application (Bus, Toll, Train, and Car Rental), Component (Hardware, and Software), and Technology Platform (Smart Card, Near Field Communications, Optical Character Recognition (OCR) and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030. High-Speed Biometric and Microchip Ticketing System Market by Application (Bus, Toll, Train, and Car Rental), Component (Hardware, and Software), and Technology Platform (Smart Card, Near Field Communications, Optical Character Recognition (OCR), and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030. Asia-Pacific Tolling and City Congestion Market by Product Type (Electronic Tolling, ATMS, and UTM): Opportunity Analysis and Industry Forecast, 2018 – 2030. Thailand and Philippines Tolling & City Congestion Market by Product Type (Electronic Tolling, ATMS, and UTM): Opportunity Analysis and Industry Forecast, 2018 – 2030. Electronic Toll Collection Market by Subsystem (Automated Vehicle Identification, Automated Vehicle Classification, Violation Enforcement System, and Transaction Processing), Technology (Radio-frequency Identification, Dedicated Short-range Communication, Infrared, GNSS & GPS, and Video Analytics), and Application (Urban and Highways) - Global Opportunity Analysis and Industry Forecast, 2018-2030. U.S. & Europe Automatic Toll Payment Machine Market by Component (Hardware, Software, and Service) and Application (Tollink, Transportation, Parking, Kiosk, and Others): Opportunity Analysis and Industry Forecast,2020–2027. About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: David Correa Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 
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