Global Intelligent Vending Machines Market: Overview
Intelligent vending machines is an advanced system developed to collect, transfer, and analyze data, and dispense accurate products. These machines are developed for ease and smart user experience with touchpad technologies. The global Intelligent Vending Machine Market is estimated to value at nearly US$ 6.5 Bn in 2019, and is expected to register a CAGR of 11.2%.
Global Intelligent Vending Machines Market: Dynamics
The advent of 5G technology is one of the major factor driving growth of the global intelligent vending machines market. In addition, 5G networks have greater capability to support growth in emerging digital applications including smart cities, autonomous vehicles, and the Internet of Things (IoT). 5G networks also play an important role in a wide range of applications used for advanced manufacturing, intelligent retail, and connected healthcare among various other applications. These are some factors expected to support target market growth over the forecast period. Increasing usage of Internet and rising adoption of IoT-based software and hardware components in production units across various sectors including healthcare, retail, oil & gas, automotive, etc., for monitoring and other purposes, is expected to drive growth of the target market.
However, the high cost of intelligent vending machines coupled with high cost regarding maintenance and energy consumption are some of the key factors expected to hamper growth of the global intelligent vending machines market over the forecast period. In addition, vending operators get nominal margins as compared to other channels of distribution.
Analysis By Segmentation:
The global intelligent vending machine market report has been segmented on the basis of type, application, technology, and region. The type segment includes beverages, snacks, and commodity. The application segment includes quick service restaurants, business center, public transport, school/ institutions, and others. The technology segment includes cashless systems, telemetry systems, and voice recognition. The regions covered in the analysis include North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Among type, snacks segment is expected to register highest CAGR of 11.2% over the forecast period.
Among application, business center segment is expected to register highest CAGR of 12.5% over the forecast period.
Among technology, telemetry systems segment is expected to register highest CAGR of over 11.4% over the forecast period.
Among region, Asia Pacific is expected to account highest CAGR of 12.1% over the forecast period.
Global Intelligent Vending Machine Market: Competitive Analysis
The research report on the global intelligent vending machine market includes profiles of major companies such as Crane Co., Canteen Vending Services, Inc. (Compass Group USA, Inc.), Fuji Electric Co., Ltd., Royal Vendors, Inc., Bianchi Vending Group S.p.A., Intel Corporation, Azkoyen, S.A., Westomatic Vending Services Ltd., and Jofemar SA.
The Global Intelligent Vending Machine Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global intelligent vending machine market for 2019–2028.
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