Global Ticket Machine Market Report 2023: Contactless Payment and IoT Integration Drive 9% Annual Growth

DUBLIN, June 2, 2023 /PRNewswire/ -- The "Global Ticket Machine Market Report and Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

According to the report, the global ticket machine market reached a value of USD 9299 million in 2022.

Aided by factors such as the increasing demand for self-service kiosks and advancements in technology, the market is expected to grow at a CAGR of 9.3% during the forecast period of 2023-2028, to reach a value of USD 15853.10 million by 2028.

Contactless payment solutions, along with IoT integration, are driving the global ticket machine market, as these technologies offer an improved user experience and a more streamlined ticketing process. Ticket machines are becoming more user-friendly and versatile, supporting various applications such as ticket vending, validation, and printing, which contribute to their widespread adoption.

The growing trend towards smart cities and the need for advanced technologies in transportation systems are expected to drive the global ticket machine market growth. The increasing adoption of mobile payment solutions and the integration of artificial intelligence and machine learning technologies in ticket machines are also expected to propel ticket machine market.

Additionally, the increasing demand for sustainable and eco-friendly transportation options is expected to fuel the demand for ticket machines that enable paperless transactions. The global ticket machine market is expected to witness significant growth during the forecast period, driven by the increasing demand for self-service kiosks and advancements in technology.

The time-saving and self-operating feature of utilising a ticket machine is the key driving factor for the global ticket machine market. The necessity to employ staff to manage the printing and dispensing of tickets has been decreased due to the arrival of the ticket machine. This has also decreased the strain of transferring overheads and the accounting personnel to track the process. Ticket machines also provide enhanced convenience for accounting purposes by collating information which can be tallied at the end of the day or when desired by the operator.

Market Segmentation

The market can be divided based on component, product type, payment type, application, and region.

Market Breakup by Component

• Hardware
• Software

Market Breakup by Product Type

• Vending Machine
• Handheld Electronic Machine
• Kiosk Counter
• Others

Market Breakup by Payment Type

• Smart Card Payment
• Cash Payment
• Mobile Payment
• Others

Market Breakup by Application

• Railways
• Buses
• Entertainment
• Sports
• Parking Area
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global ticket machine companies. Some of the major key players explored in the report are as follows:

• METRIC Group Ltd
• Sigma S.p.A
• Scheidt & Bachmann GmbH
• KIOSK Information Systems
• Others

Key Topics Covered:

1 Preface

2 Report Coverage - Key Segmentation and Scope

3 Report Description

4 Key Assumptions

5 Executive Summary

6 Snapshot

7 Opportunities and Challenges in the Market

8 Global Ticket Machine Market Analysis

9 North America Ticket Machine Market Analysis

10 Europe Ticket Machine Market Analysis

11 Asia Pacific Ticket Machine Market Analysis

12 Latin America Ticket Machine Market Analysis

13 Middle East and Africa Ticket Machine Market Analysis

14 Market Dynamics

15 Value Chain Analysis

16 Competitive Landscape

17 Key Trends and Developments in the Market

Companies Mentioned

• METRIC Group Ltd
• Sigma S.p.A.
• Scheidt & Bachmann GmbH
• KIOSK Information Systems

For more information about this report visit https://www.researchandmarkets.com/r/u5q181

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SOURCE Research and Markets