LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global passenger ticket vending machine (TVM) market report. This market research report also lists eight other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global passenger TVM market constitutes of various multinational players, such as innovation in traffic systems, Omron, Parkeon, Scheidt & Bachmann, and Xerox. The market is highly competitive because of the presence of both local and established players. Key players have the edge over local TVM manufacturers as the major contracts for installation of new TVMs are captured by international players. For example, innovation in traffic systems won a contract for technical operations, installations, and maintenance of its integrated network systems of smart ticketing systems in New Zealand.
According to Shakti Jakhar, a lead analyst at Technavio for logistics research, “There is a surge in the requirement for TVMs for various transport stations, such as railways, subways, and airports in countries, such as the US, the UK, China, Japan, and India. The market is fragmented and localized with many establishments catering to the demand for diverse types of TVMs. Vendors compete based on various factors, such as machine innovation, performance, delivery speed, quality, price, and reliability. The element that provides a competitive edge in the market is the after sales services provided by different vendors.”
Also, the report also states that advances in smart transit systems by incorporating IT, and increased government investment in these systems will help vendors raise the efficiency and effectiveness of TVMs.
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Technavio market research analysts identify the following key vendors:
innovation in traffic systems
innovation in traffic systems deals in intelligent transportation systems (ITS) and its products are ISO 9001:2008 certified. It offers innovative ticketing solutions by manufacturing distinct types of TVMs. The company has a presence in various countries, such as Germany, Switzerland, France, the UK, Canada, Finland, the UAE, Singapore, and Australia.
Omron manufactures various equipment related to the automation industry, healthcare devices, transportation-related machines, such as TVMs and electronic chips. The Social systems, solutions, and service segment provides various systems that support the centering of infrastructure on railway and traffic control systems. The segment has contributed to IC card equipment for railway systems through which the company is manufacturing TVMs and automated ticket gates.
Parkeon manufactures, supplies, and develops end-to-end parking solutions, automatic fare collection and ticket issuing systems, real-time information, ticketing and payment systems, consumer-focused mobile retail and payment platforms, and back office systems that allow transport operators to control and manage their entire transportation and parking operations.
Scheidt & Bachmann
Scheidt & Bachmann offers level crossing, interlocking, and operations control systems; e-ticketing validators, sales devices, mobile ticketing terminals, passenger control systems, outdoor payment terminals, digital signage products, fuel dispensers, back-end systems, and site management systems.
Xerox is a global corporation, which sells document solutions, products, and services in more than 160 countries. The public transit segment of the company offers a fare collection system, which is efficient and reliable incorporating technologies, such as TVMs, bank card solutions, and smart card applications. This helps public transit operators to reduce the operational cost. The company’s fare collection system is known as Atlas solutions, which includes inspector terminals, TVMs and validators, and access control gates.
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