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Global Intelligent Vending Machine Market 2020-2024 | Growing Demand for Cashless Vending Machines to Boost Market Growth | Technavio

February 5, 2020 GMT
Global Intelligent Vending Machine Market 2020-2024 | Growing Demand for Cashless Vending Machines to Boost Market Growth | Technavio
Global Intelligent Vending Machine Market 2020-2024 | Growing Demand for Cashless Vending Machines to Boost Market Growth | Technavio

LONDON--(BUSINESS WIRE)--Feb 5, 2020--

The intelligent vending machine market is expected to grow by USD 11.24 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global intelligent vending machine market 2020-2024 (Graphic: Business Wire)

Companies are installing vending machines that can accept payments through credit cards, debit cards, and mobile payments solutions. Moreover, retailers operating in the market prefer purchasing intelligent vending machines that have a cashless feature. This helps them gain the attention of customers, consequently propelling sales. The inclination of customers toward cashless payments is increasing due to high penetration of internet and smartphones. These factors will increase the need for intelligent vending machines, leading to market growth during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41183

As per Technavio, the ability of real-time data collection through intelligent vending machines will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Intelligent Vending Machine Market : Ability Of Real-Time Data Collection Through Intelligent Vending Machines

The ability of real-time data collection through intelligent vending machines will be one of the critical trends in the global market. The information collected by intelligent vending machines helps retailers focus on the core competencies of timely distribution and product quality. Moreover, the demand for intelligent vending machines is also increasing because the data collected helps them analyze consumer purchase patterns and behavior which can then be used by retailers to enhance sales. Large amounts of real-time customer data from intelligent vending machines is managed through customized software analytics and cloud-based servers. Intelligent vending machines positively impact the daily sales, footfalls, and inventory levels of enterprises which increases their demand and will thus propel market growth over the forecast period.

“Other factors such as the product customization, and the growing demand for retrofitted vending machines will have a significant impact on the growth of the intelligent vending machine market value during the forecast period,” says a senior analyst at Technavio.

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Intelligent Vending Machine Market: Segmentation Analysis

This market research report segments the intelligent vending machine market by product (beverage, food and tobacco), installation sites (retail sites, public transport hubs and offices), and geography (North America, APAC, Europe, South America and MEA).

The North American region led the intelligent vending machine market in 2019, followed by Europe, APAC, South America and MEA. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as popularity of vending machines, the concentration of manufacturers and retailers, the presence of buyers that are aware of technologies and the utility of vending machines.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Some of the key topics covered in the report include:

Product segmentation

Installation sites segmentation

Geographic segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200205005393/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL

SOURCE: Technavio Research

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PUB: 02/05/2020 11:00 AM/DISC: 02/05/2020 11:00 AM

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