Growing IoT penetration & Consumer Preference for Cashless Payments Drive the Global Intelligent Vending Machines Market
Published: September 2017
- Code: MCP-7036
- Pages: 143
- Tables: 16
- Companies: 47
INTELLIGENT VENDING MACHINES: A RESEARCH BRIEF
The global installed base of Intelligent Vending Machines is projected to reach 3.8 million units by 2024, driven by benefits such as ease of use, higher energy and operating efficiency, and ability to offer a more engaging retail experience. Other major factors catalysing growth in the market include emergence of Internet of Things (IoT) technology, growing preference among consumers for cashless payments and self-service, rapid urbanization and the resulting increase in traffic at public places. The growth in the market will continue to be shaped by technology developments such as machines with the ability to store history of customers’ previous purchase to generate personalized recommendations and offers; social media options that allow customers to share purchase experiences; and cashless money transfer options. The United States represents the largest market worldwide supported by robust demand for healthy vended foods, and development of cashless and credit card systems for vending machines. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 14.1% over the analysis period led by factors such as developing economies, expanding base of young affluent, urban population, massive development of retailing infrastructure, changing food consumption habits in favour of convenience foods, consumerization trends and growing preference for fast and efficient self-service retail checkout.
- Cloud Computing Technology Makes its Mark for its Promised Ability to Enable Vending Machines to Personalize Purchases
- Food Giants Mull Plans to Invest in IoT Connected Smart vending Machines for Seamless Customer Engagement and Real-Time Measuring of Stocks
- Automated Retailing of Expensive, Non-Food Products Fuels Demand for Cashless Vending Machines With Digital Payment Capabilities
- Stringent Energy Efficiency Mandates and High Cost of Electricity Encourage Operators to Upgrade to Energy Efficient Machines
- The Global Fight Against Obesity Drives Demand for Smart Vending Machines Capable of Displaying Nutritional Information
Summary of Findings
- Market Estimates and Forecasts for 2015-2024
Timeline for Analysis
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, and Rest of World
Geographic Markets Analyzed
- Azkoyen Group
- Bianchi Vending Group S.p.A.
- FAS International SpA
- Fuji Electric Co., Ltd.
- Glory Ltd.
- Canteen Vending Services, Inc.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable