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Intelligent Vending Machine Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029

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Global intelligent vending machine market to value over USD 12 Billion by 2029 end and register a CAGR of over13% from 2019 to 2029. The global shipments are expected to exceed 8 million units by 2029. With increasing technological advancements, ris
Intelligent Vending Machine Market Global Trends, Market Share, Industry Size,
Growth, Opportunities, and Market Forecast 2019 to 2029
Global intelligent vending machine market to value over USD 12 Billion by 2029 end
and register a CAGR of over13% from 2019 to 2029.
The global shipments are expected to exceed 8 million units by 2029.
With increasing technological advancements, rising awareness is increasing the
adoption and acceptance of intelligent vending machines, boosting the growth of the
market worldwide. The machines are becoming increasingly consumer-friendly and
are equipped with all the latest features thus increasing consumer accessibility as
well as the flexibility of usage. These factors contribute greatly to the market’s
worldwide lucrative trade opportunities.
Offering features like face and voice recognition has opened up new trade avenues
and increased the scope of employment of these machines across various industries
and sectors. These machines help in increasing consumer awareness and provide due
assistance through information, these machines have become pertinent for timely
and ever available service for consumers. These machines have expanded into the
retail sector and helped it grow better and in turn driving the sales of intelligent
vending machines, especially in U.S the rise in geriatric population and thus
increasing health issues. Thus in order to maintain a healthy balanced diet creates an
increasing need for providing detailed product information especially by the
intelligent vending machines have the capability to display relevant information of
products. The governments' incentives across the globe have significantly
contributed to the growth of this market worldwide. Regions such as North
American, U.S., Canada, are primarily focusing on providing all the nutritional
information to customers for the food and beverages available through vending
machines. The governments have stringent laws and policies governing and
maintaining consumer awareness about food products. These government
regulations are resulting in rising popularity and deployment of intelligent vending
machines in the region.
The advancements in the technology of intelligent machines market have also
exposed it to security and privacy-related concerns. The retail industry needs to
implement efficient tools to ensure consumer privacy. The increasing usage and
integration of smart-phones in daily lives by consumers especially for making
payments using e-Wallets or credit-debit cards as they move from location to
location, there is always a risk associated with it owing to chances of network system
failures, system hacking, outsourcing of private information of the consumers, such
as credit card and debit card details. Yet the convenience associated with smart
payment systems has attracted a lot of people towards use of intelligent vending
machines. Consumers are increasingly preferring such payment options due to
smartphone applications for payment, and improvised security in such payment
modules. Due to this factor, retailers are also focusing on delivering smart payment
options to customers to increase the sale of their products, and increase customer
retention ratio.
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Market Segmentation
1. By Application
●
QSR, shopping malls, and retail stores
●
Public Transport
●
Office/Institutions
●
Others
2. By Product Dispensed
●
Salty and savory snacks
●
Hot drinks
●
Bakery products
●
Confectionery products
●
Beverages
●
Others
The hot drinks segment is projected to account for major market share during the
forecast period.
3. By Region
●
North America
●
Europe
●
Asia Pacific
●
Latin America
●
Rest of the World
The Asia Pacific region is predicted to emerge as the fastest-growing market due to
the increased demand in public transport applications in emerging countries such as
India and China and consumer awareness of receiving detailed information.
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Competitive Landscape:
●
Tier 1 players- established companies in the market with a major market share
●
Tier 2 players
●
Emerging players which are growing rapidly
●
New Entrants
Prominent vendors operating in the market include Crane Co., Advantech Co. Ltd.,
Bianchi Vending Group S.p.A, Azkoyen Group, and Rhea Vendors Group
FutureWise Takeaways
●
Growth prospects
●
SWOT analysis
●
Key trends
●
Key data points affecting market growth
Objectives of the Study:
● To provide an exhaustive analysis on the global intelligent vending machine
market by product dispensed, by application and by region
● To cater comprehensive information on factors impacting market growth
(drivers, restraints, opportunities, and industry-specific restraints)
●
To evaluate and forecast micro-markets and the overall market
● To predict the market size, in key regions (along with countries)—North
America, Europe, Asia Pacific, Latin America, and rest of the world
● To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
● Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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