MarketResearchNest.com adds “Global Intelligent Vending Machine Market 2017-2021” new report to its research database. The report spread across 110 pages with table and figures in it.
Research analysts forecast the global Intelligent Vending Machine market to grow at a CAGR of 34.41% during the period 2018-2022.
About Intelligent Vending Machine
Vending machines are used in the automatic retailing industry to dispense products such as beverages, snacks, cigarettes, lottery tickets, and other consumer goods after feeding a desirable amount into the machine. At present modernized and optimized vending machines with several technologies such as interactive displays, cashless payments, and telemetry systems are available. They are mostly installed in hospitals, public buildings, airports, and gas stations.
Covered in this report
The report covers the present scenario and the growth prospects of the global intelligent vending machine market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of intelligent vending machines.
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The market is divided into the following segments based on geography:
Technavio’s report, Global Intelligent Vending Machine Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio recognizes the following companies as the key players in the global intelligent vending machine market: Crane, Coin Acceptors, Fuji Electric, and Royal Vendors.
Other Prominent Vendors in the market are: American Vending Machines, BIANCHI INDUSTRY SPA, Bulk Vending Systems, Compass Group (Canteen), Continental Vending, and Fresh Healthy Vending International.
Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is ability of real-time data collection through intelligent vending machines. Most vending machines focus on providing dispensing products. The functionality of the machine is decided by the hardware, software, and the microprocessors and controllers used in designing the machine. Intelligent vending machines are being equipped to handle in-data collection, data transfer, and data analysis. These advanced features enable the retailers to focus on their core competencies of timely distribution and product quality. Vending machines use customized software analytics and cloud-based services to manage large real-time customer data.”
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According to the report, one of the major drivers for this market is growing demand for cashless vending machines. Companies are installing vending machines that accept payments through credit cards, debit cards, and mobile payments. This helps them to gain the attention of customers, consequently propelling the sales. The vending machines are becoming popular in offices, commercial complexes, institutes, hospitals, and other public places. Retailers preference is shifting towards cashless transaction facilities and machines with cashless features.
Further, the report states that one of the major factors hindering the growth of this market is high initial investment and maintenance cost. End-users require huge capital investments for procuring the software and hardware for intelligent vending machines. Although they can customize the hardware and software according to their needs, these customizations can also be outsourced to third-party suppliers, which involves considerable costs. To withstand the competition in the market vendors, need to launch innovative products that require heavy investments in R&D. However, the cost of producing of vending machines is very high while the cost of renting them is also increasing by the year.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;
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