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Home>Global Passenger Ticket Vending Machine (TVM) Market 2017-2021: Increasing Use of NFC Technology - Research and Markets

Global Passenger Ticket Vending Machine (TVM) Market 2017-2021: Increasing Use of NFC Technology - Research and Markets

Global Passenger Ticket Vending Machine (TVM) Market 2017-2021: Increasing Use of NFC Technology - Research and Markets

10/04/2017

Global Passenger Ticket Vending Machine (TVM) Market 2017-2021: Increasing Use of NFC Technology - Research and Markets

The "Global Passenger Ticket Vending Machine (TVM) Market 2017-2021" report has been added to Research and Markets' offering.

The report forecasts the global passenger ticket vending machine (TVM) market to grow at a CAGR of 4.06% during the period 2017-2021.

The report, Global Passenger Ticket Vending Machine (TVM) Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One trend in the market is emergence of distinct connected TVM. Embedded system-based TVMs are a modified form of mechanical TVMs used for ticketing purposes. However, this creates problems at times. To ensure that passengers have no issues while handling a TVM, innovative technology is being developed, which incorporates Zigbee techniques and radio frequency identification (RFID) to provide tickets, that are vended using smart cards.

According to the report, one driver in the market is increasing cashless vending by NFC technology. Cashless payments in vending machines increased at a significant rate of 35%-40% during 2014-2016. This growth is mainly due to the customers' current preference to pay for their purchases by mobile devices or credit and debit cards instead of paying by cash. To increase their sales, companies are installing vending machines that accept credit or debit cards and mobile payments. In places, such as railway stations, metro stations, and subway stations, cashless TVMs are becoming popular. As a result, cashless vending is expected to drive the global passenger TVM market.

Key vendors

  • Innovation in traffic systems
  • Omron
  • Parkeon
  • Scheidt & Bachmann
  • Xerox

Key Topics Covered:

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