- Report ID: BMRC 1071 | Number of pages: 200 | Publish Date: Apr 2020
Status: Published | Category: Consumer Goods | Delivery Timeline:
"Intelligent Vending Machine Market is valued at USD 14.13 Billion in 2018 and expected to reach USD 43.16 Billion by 2025 with the CAGR of 17.29% over the forecast period."
Increasing trend towards cashless payment options, rapid growth in consumerism and significant transformation in latest technologies in order to increase profitability and reduce management cost of manufacturers or operators is driving the growth of the intelligent vending machine market.`
An intelligent vending machine is designed to increase sales capabilities through an advanced vending experience for product manufacturers, brands and operators. It enables vending machines to connect with an internet by allowing brands and operators to take advantage of cloud services, and data analytics. An intelligent vending machine includes a VMI hardware reference board design and application programming interfaces (APIs). Intelligent vending machines offer many payment options such as credit and debit cards, QR codes and other contactless payments methods. These machines also provide a fast and easy access for re-architecting traditional vending machines into highly-capable, internet-connected machines. The vending machine industry is currently using intelligent system technologies to adapt technologies like HD touch-enabled screens and remote management software to simplify dispensing food and drink.
Intelligent vending machine market is segmented on the basis of by product, application and by region. Based on product, intelligent vending machine market is segmented into beverage, food, tobacco and others. Based upon application, the market is classified into retail sites, public transport hubs, offices/institutions and others.
The regions covered in this intelligent vending machine market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Intelligent Vending Machine Market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key players of the intelligent vending machine market are Azkoyen Vending Systems, American Vending Machines, Bulk Vending Systems, Automated Merchandising Systems, Evoka Group, Bianchi Industry SpA, Crane Merchandising Systems, Continental Vending, Inc., Sanden Holdings Corporation, and Fuji Electric Co., Ltd., among others.
Global Intelligent Vending Machine Market Dynamics –
The global intelligent vending machine market is primarily driven by increasing trend towards vending telemetry & cashless payment options, rapid growth in consumerism, and significant transformation in latest technologies in order to increase profitability and reduce management cost of manufacturers or operators. Globally, more than 20 million vending machines installed using advanced technologies to increase both profitability and customer friendly interaction. Furthermore, rapidly growing retail business sector coupled with digital transformation is also supporting the growth of this market. For example; India is the world’s fifth largest global destination in the retail, where retail market in India is expected to grow from an estimated USD 672 billion in 2017 to USD 1,200 billion in 2021. However, intense competition among vendors operating in vending machine industry may face a huge hindrance to the growth of this market. An intelligent vending machine market has numerous opportunities to improve its existing technology through Internet of Things (IoT) as well as cloud-based technologies and replacing it with smart and innovative techniques to make the process more customers friendly, efficient, and time saving and these facts will offer plentiful opportunities in the coming years.
North America is expected to dominate the Intelligent Vending Machine Market throughout the forecast period.
North America is expected to dominate intelligent vending machine market due to increasing retail industry, large availability of secure cashless payment options and wide industrialization of beverage vending machines. According to the study, United States of America is the country in intelligent vending machine; there are about 2.08 million vending machines operating in the U.S. Europe is the second leading region in intelligent vending machine market owing to European vending machine operators is taking efforts to provide food and beverage products through intelligent smart machine. For example; over 90 million food and drink items are dispensed from European vending machines. Italy, France, United Kingdom, Germany, Spain and the Netherlands are the 6 biggest vending markets in Europe.
Key Benefits for Intelligent Vending Machine Market Reports –
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
By Product: Beverage, Food, Tobacco, Others
By Application: Retail sites, Public transport hubs, Offices/Institutions, Others
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Intelligent Vending Machine Market 2020 By Product (Beverage, Food, Tobacco, Others) By Application (Retail sites, Public transport hubs, Offices/Institutions, Others) Forecast to 2025