Global Ticket Vending Machine (TVM) Market is Growing On the Back of Rise in penetration of digital technology across the globe in transportation sector and change in urban commute outlook
Ticket vending machine is an automated solution which generates paper or electronic tickets by using smart card, NFC technology and others. Ticket vending machine are to generate tickets at subway station, railway station, airports, restaurants, cafeterias, cinemas, amusement parks, parking lots, etc.
End-users are adopted Ticket Vending Machines to cut down on customers standing in line at ticket counters at railway stations, subway station, railway station, airports, restaurants, cafeterias, cinemas, etc. Ticket vending machines are ticketing kiosks with touch screens that use Smart Cards for operation. At the ticket counters, customers can purchase and reload Smart Cards. The user must choose the route and destination using the touchscreen after inserting the Smart Card into the ATVM's slot. The ticket is produced and distributed after the information is confirmed. The smart card gets charged when the ticket is issued. The menu selections and graphic presentation of route maps are both included in the interface and the supporting software. It is a convenient, cashless service that is offered constantly.
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The worldwide demand for Ticket Vending Machine (TVM) market was estimated at around USD 540.95 million in 2022, and by the end of 2031, existing and expected developments would hit valuations of around USD 1,456.7 Million. The industry players and analysts predict the global Ticket Vending Machine (TVM) market growth of around 4% in terms of CAGR. During the upcoming years, rising awareness of the advantages associated with the use of ticket vending machine is projected to raise demand for the Ticket Vending Machine (TVM) market. However, high installation cost of Ticket Vending Machine (TVM) and high maintenance cost for Ticket Vending Machine (TVM) are some of the challenges presented to Ticket Vending Machine (TVM) market development and growth.
Some of the leading and top Ticket Vending Machine (TVM) companies in the global Ticket Vending Machine (TVM) market include AEP Ticketing Solutions, Ducati Energia SPA, Flowbird, ICA Chipkartensysteme GmbH & Co. KG, Init Innovation Traffic Systems, Omron Corporation, Scheidt & Bachmann GmbH, METRIC Group Ltd, KIOSK Information Systems, Sigma S.p.A, Thales Group, and Xerox Corporation among others. The leading five players such as METRIC Group Ltd, Sigma S.p.A., Scheidt & Bachmann GmbH, and KIOSK Information Systems hold around 35% market share of the global Ticket Vending Machine (TVM) market.
On the basis of component, the worldwide Ticket Vending Machine (TVM) market can be segmented into Hardware and Software, with the 'Hardware' category having the leading market share of about 70 percent, of the worldwide Ticket Vending Machine (TVM) market. In terms of input type, global Ticket Vending Machine (TVM) market can be segmented into smart card, NFC, and Others. On the basis of application, the market can be bifurcated into Railway Stations, Subway Stations, Bus Stations, Airports and Others. In terms of geography, North America region held the leading market share of around 40% among other regions such as Asia Pacific, Europe, Latin America, and Middle East & Africa in the global Ticket Vending Machine (TVM) market.
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