Global Ticket Machine Market To Be Driven By The Technological Advancements In Digital Payment Options In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Ticket Machine Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global ticket machine market, assessing the market based on its end-use, component type, payment type and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 10%
The growth in the global ticket machine market is induced by the growing demand for the ticket machine as it saves time and is self-operated. In addition, the industry has been powered by a massive demand for smart ticketing from the leisure, entertainment, and tourism industries in recent years. In addition, considerations such as expanded use of blockchain technologies, low-cost access to rapid transit with the help of a machine, and the need to print tickets have been minimized as a result of the introduction of the ticket machine, reducing the cost of overhead transit. Both of the factors listed above are boosting the demand growth of the ticket machine.
Industry Definition and Major Segments
Ticket machines are the machines used to automatically produce tickets and are publicly accessible. The ticket machine comprises of the input for payment and its installation unit, the operating devices, the control unit, and the ticket printer. Instead of ticket offices, ticket machines help to make simple and quick purchases of tickets in public places.
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Based on component, the market is divided into:
Based on product type, the industry is segmented into:
• Vending Machine
• Handheld Electronic Machine
• Kiosk Counter
Based on payment type, the market can be categorised as:
• Smart Card Payment
• Cash Payment
• Mobile Payment
Based on application, the market is divided into:
• Parking Area
On the basis of region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The self-operating and time-saving factor in the use of a ticket machine is the key motivating factor. Owing to the invention of the ticket machine, the need to print tickets has been minimised. This has also reduced the burden of overhead transport and the burden on accounting personnel to keep track of the operation. As the ticket machine operates without any operator and provides comfort, the market for ticket machines is also enhanced.
An e-ticket is provided by a variety of ticket machines. The e-ticket provides benefits, including no chance of skipping or ticketing, and we do not have to keep a physical ticket because it is available in electronic format. The collapse of its operating network is one of the factors that hinders the growth in demand for ticket machines. High initial investment is another factor that restricts the development of this business.
Key Market Players
The major players in the market are METRIC Group Ltd, Sigma S.p.A., Scheidt & Bachmann GmbH, KIOSK Information Systems, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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