Global Intelligent Vending Machine Market 2018-2022 | Increasing Demand for Cashless Vending Machines to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 18, 2019--
The global intelligent vending machine market is expected to post a CAGR of over 34% during the period 2018-2022, 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 2018-2022. (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 to 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.
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As per Technavio, the capacity 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 important trends and market drivers that will affect market growth over 2018-2022.
Global Intelligent Vending Machine Market: 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 to 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.
“The tie-ups among retailers and the increasing need for retrofired vending machines are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Intelligent Vending Machine Market: Segmentation Analysis
This market research report segments the global intelligent vending machine market by product (beverage, food, and tobacco), installation sites (retail sites, public transport hubs, and offices), and geographical regions (APAC, Americas, and EMEA).
The Americas region led the market share in 2017, followed by EMEA and APAC respectively. During the forecast period, the Americas is expected to maintain its dominance over the global market. This is due to the growing popularity of vending machines and the concentration of manufacturers and retailers in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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PUB: 11/18/2019 03:30 PM/DISC: 11/18/2019 03:30 PM