The global smart vending machine market generated $4.27 billion in revenue in 2018. Augmented adoption in different application areas such as at hospitals, hotels and railway stations is the main factor fueling the smart vending machine market growth. The technological advancements, coupled with increasing penetration of the internet into inanimate objects, is driving growth of the smart vending machine market. The global smart vending machine market is estimated to grow at a CAGR of 16.74% during the forecast period 2019-2025.
The report titled, “Smart Vending Machine Market: By Type (Food and Beverage (Hot Drinks, Snacks, Packaged Drinks, Others), Ticketing, Self Service (Photo, Hospital and Hotel), ATM); By End-Use Industry (Retail Industry, Entertainment & Hospitality, Medical, Transportation, Others) & By Geography – Forecast (2019 - 2025)”, provides an in-depth analysis of the smart vending machine industry by providing qualitative and quantitative information. The report helps the reader understand major factors of the market including trends, challenges, drivers and future scope.
Smart Vending Machine Market: Leading Segments
North America held a prominent share in the global smart vending machine market, accounting for 37% of the total demand in 2018. Owing to the rise in adoption of self-service technologies that automate sales processes, high demand for smart vending machines at retail outlets led to high growth of the market in this region. There is widespread implementation of these systems in countries such as U.S. and Canada, across various application areas such as at supermarkets, retail stores, shopping malls, and many others.
On the basis of type, the smart vending machine market is segmented into food and beverages, ticketing, self-service and ATMs. Among these, the highest demand is observed from the food and beverages segment, led by increased demand for packaged food products. Simultaneously, growing demand for enhancing the customer experience through reduced waiting times is propelling adoption of smart vending machines in this segment. Furthermore, the food and beverages segment is anticipated to grow at a CAGR of 15.06% through to 2025.
Smart Vending Machine Market Disruptive Trends
· Eco-Friendly Vending Machines
Many manufacturers are investing heavily into R&D of energy-efficient solutions which can reduce their carbon footprint. Eco-friendly vending machines are being developed to provide sustainable technologies and thereby reduce the environmental impact. The increasing adoption of eco-friendly vending machines is disrupting growth of the smart vending machine market.
· 3D Vending Machines
These machines have solar panels to harness solar energy and are absolutely powered by solar energy. These machines are eco-friendly as they utilize non-CFC and ozone friendly materials for the purposes of refrigeration and heating. Recently, Coca Cola Company installed 3D vending machines all over Japan and is planning to deploy 1500 more in the near future. This technology is disrupting the smart vending machine market growth.
Smart Vending Machine Market: Competitive Landscape
Majority companies in the global smart vending machines market are Azkoyen, S.A., American Vending Machines, Bianchi Vending Group S.p.A., Evoca Group, FAS INTERNATIONAL S.P.A., Fuji Electric Co., Ltd., Hunan TCN Vending Machine Co. Ltd., and Sanden Holdings Corporation. These players are integrating advanced technologies into their products, including mobile and internet connectivity, NFC-based payments, and others.
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