The global self-service ticket market is expected to grow at a compound annual growth rate of 6.27% over the forecast period to reach a market size of US$10.397 billion in 2026, from US$7.218 billion in 2019.
A self-service ticket machine operates as a ticket producing and dispensing machine, which helps a user to get the required tickets without waiting in a queue at the ticket counter. The self-service ticket machines can also be used to validate tickets that are used in situations when they have been purchased in advance to be used later. Factors such as low manpower cost, improved efficiency, less operational time, and developed transport infrastructure and security system are expected to drive the growth of global self-service ticket machines.
Recent News and development
- Metrolink, a US-based rail authority has installed 133 new ticket machines at its stations in southern California. The machines are expected to increase the customer experience by providing them better reliability and accessibility, as well as smarter features such as touchscreens.
- Transport for Wales (TfW) in UK has started the installation of new ticket vending machines and operating smartcards across the Wales and Borders network routes.
- TfW has installed modern ticket machines that feature improved Welsh Language components and raised pictograms to aid visually impaired people at 20 stations, including Cardiff Central and Penarth.
- Northern, the UK train operating company installs new ticket vending machines at over 400 locations. Northern has gone above and beyond to provide its passengers with a better way to buy tickets. The TOC originally pledged to install 600 new ticket vending machines (TVMs) across the network as part of its wide-ranging modernization plan but has gone a step further and installed 621 new machines.
- The UK government has confirmed 47 countries and territories will be removed from its red list, which will make it easier for more people to travel abroad to a larger number of countries and territories.
Growing travel and tourism sector
The overall growth of the global ticket vending machine depends largely on the travel and tourism sector and its adoption in public transport. This type of equipment allows consumers to buy tickets quickly and easily at train stations, subway stations, buses, cinema halls,s or parks. They help in the reduction of waiting for time due for this reason they are preferred by many consumers.
- In India May 2021, the Union Minister of State for Tourism & Culture participated in the G20 tourism ministers' meeting to collaborate with member countries in protecting tourism businesses, jobs and taking initiatives to frame policy guidelines to support the sustainable and resilient recovery of travel and tourism.
- The government of India is planning to boost tourism by leveraging the lighthouses in the country. 71 lighthouses have been identified for development as tourist spots.
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