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<strong>Intelligent</strong> <strong>Vending</strong> Machine <strong>Market</strong> to grow at 15%<br />
CAGR from 2018 to 2024: Global <strong>Market</strong> Insights Inc.<br />
<strong>Intelligent</strong> <strong>Vending</strong> Machine <strong>Market</strong> was valued at over USD 11 billion in 2017 and is<br />
set to exceed USD 30 billion by 2024; according to a new research report by Global<br />
<strong>Market</strong> Insights, Inc. The industry shipments are expected to grow at a CAGR of 14%<br />
from 2018 to 2024. The intelligent vending machines market is experiencing high<br />
growth due to a rise in the development of the energy-efficient solutions by<br />
manufacturers that will help companies to reduce their carbon footprint.<br />
Players operating in intelligent vending machines market are developing eco-friendly<br />
and recycling vending machines to provide sustainable technologies for reducing the<br />
environmental impacts. Some of the major players, including Coca-Cola, are<br />
developing smart vending machines that are integrated with these recycling<br />
technologies. Moreover, countries including India, China, the UK, and the U.S. have<br />
adopted initiatives and policies for reducing the plastic usage. Such regulations are<br />
encouraging the development of sustainable vending machines.<br />
Beverage dispensing machines are witnessing a high demand in the intelligent<br />
vending machines market and are anticipated to grow at a CAGR of around 16% over<br />
the forecast timespan due to the increasing consumption of several types of beverages<br />
including cold drinks, alcohol, juices, and energy drinks. Some of the major countries<br />
that have a high consumption rate of the soft drinks include the U.S., Argentina, Chile,<br />
Mexico, and Uruguay. However, the U.S. is among the top countries considering<br />
alcohol consumption rates. Retail outlets in these countries are involved in automating<br />
their outlets by incorporating vending solutions. They are utilizing these automated<br />
technologies to serve different types of beverages to their customers, thereby<br />
enhancing the shopping experience. Such factors are expected to drive the intelligent<br />
vending machine market growth.<br />
In the intelligent vending machines market, the retail sector accounted for over 15%<br />
of the industry in 2017 and is experiencing high adoption due to the increasing<br />
transformation of these outlets to the mechanized stores. Retail store owners are<br />
incorporating such advanced technologies to provide sophisticated solutions to their<br />
customers, which will save the time that they spend in queues. <strong>Intelligent</strong> vending<br />
machiness help customers in gaining information about the features, pricing, and<br />
offers & discounts associated with these products. This helps in accelerating the<br />
shopping process with a detailed product overview and various payment options. The<br />
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incorporation of such smart solutions in stores is driving the sales and profitability of<br />
the retail businesses, thereby accelerating the market demand.<br />
Increasing applications of smart dispensing solutions at public transport hubs such as<br />
airports, railways stations, and bus stands are predicted to accelerate the intelligent<br />
vending machines market. The adoption of food & beverage-dispensing equipment in<br />
these places is growing rapidly. These transportation hubs are engaged in<br />
transforming their manual operational techniques to automated technologies. For<br />
instance, the Indian Railways is investing heavily in automation. In June 2018, it<br />
installed automatic food vending machines in the Coimbatore-Bengaluru UDAY<br />
Express. These machines are operated using a tablet. Moreover, they are planning to<br />
install such systems in several other trains in the future, accelerating intelligent<br />
vending machines market.<br />
Italy intelligent vending machine market, by application, 2017 & 2024 (USD<br />
Million)<br />
The Europe intelligent vending machines market is rapidly growing owing to the rising<br />
adoption of smart technologies for serving customers in several application areas.<br />
These machines are allowing customers to change their mode of payment to cashless<br />
transactions. Countries including Sweden, Germany, France, the UK, and Italy are<br />
developing various initiatives and programs to digitize the payment process. Sweden<br />
is a leading country to adopt stringent guidelines for transforming itself into a cashless<br />
economy. For instance, in 2013, some of the major banks including Nordea Bank,<br />
SEB, and Swedbank refused to hand over physical currency to its customers in over<br />
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75% of their branches in the country. Such digital currency initiatives are encouraging<br />
the market players to develop advanced solutions that will support cashless payments.<br />
Major companies participating in the intelligent vending machines market include<br />
American <strong>Vending</strong> <strong>Machines</strong>, Automated Merchandising Systems, Azkoyen <strong>Vending</strong><br />
Systems, Bianchi Industry SpA, Bulk <strong>Vending</strong> Systems, Continental <strong>Vending</strong>, Evoka<br />
Group, Crane Merchandising Systems, Inc, Fuji Electric Co., Ltd., and Sanden<br />
Holdings Corporation, among others. These players are competing in the intelligent<br />
vending machines market by integrating advanced technologies in their product<br />
offerings, which include mobile & internet connectivity, NFC-based payments, and<br />
others. Royal Vendors, Inc., a designer & manufacturer of beverage vending machines<br />
is offering remanufacturing services to its clients to allow the efficient use of<br />
technologies, improve the operating period, and reduce electronic wastes. The<br />
growing adoption of these sustainable technologies in several industrial segments will<br />
propel the market.<br />
Browse key industry insights spread across 150 pages with 251 market data tables &<br />
22 figures & charts from the report, “<strong>Intelligent</strong> <strong>Vending</strong> Machine <strong>Market</strong> Size By<br />
Product (Beverage, Food, Tobacco), By Application (Retail Sites, Public<br />
Transport Hubs, Offices/Institutions), Industry Analysis Report, Regional<br />
Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Benelux, China, India,<br />
Japan, South Korea, Singapore, Australia, Brazil, Mexico, Argentina, UAE, Saudi<br />
Arabia, South Africa), Growth Potential, Competitive <strong>Market</strong> Share & Forecast,<br />
2018 – 2024” in detail along with the table of contents:<br />
https://bit.ly/2Jy7gxW<br />
U.S. intelligent vending machines market share, by product, 2017<br />
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Table of Content (TOC-)<br />
Chapter 1. Methodology and Scope<br />
1.1. Definitions & forecast parameters<br />
1.1.1. Definitions<br />
1.1.2. Methodology and forecast parameters<br />
1.2. Data Sources<br />
1.2.1. Secondary<br />
1.2.2. Primary<br />
Chapter 2. Executive Summary<br />
2.1. <strong>Intelligent</strong> vending machine industry 360° synopsis, 2013 – 2024<br />
2.1.1. Business trends<br />
2.1.2. Product trends<br />
2.1.3. Application trends<br />
2.1.4. Regional trends<br />
Chapter 3. <strong>Intelligent</strong> <strong>Vending</strong> Machine Industry Insights<br />
3.1. Industry segmentation<br />
3.2. Industry landscape, 2013 – 2024<br />
3.3. Industry ecosystem analysis<br />
3.3.1. Component suppliers<br />
3.3.2. Technology providers<br />
3.3.3. Manufacturers<br />
3.3.4. System integrators<br />
3.3.5. Distribution channel analysis<br />
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3.3.6. Vendor matrix<br />
3.4. Technology & innovation landscape<br />
3.4.1. Impact of IoT and machine learning<br />
3.4.2. Biometric technologies<br />
3.4.2.1. Facial recognition<br />
3.4.2.2. Iris recognition<br />
3.4.3. Payment technology<br />
3.4.4. Cloud technology<br />
3.4.5. Connectivity technology<br />
3.5. Regulatory landscape<br />
3.5.1. North America<br />
3.5.2. Europe<br />
3.5.3. Asia Pacific<br />
3.5.4. Latin America<br />
3.5.5. MEA<br />
3.6. Industry impact forces<br />
3.6.1. Growth drivers<br />
3.6.1.1. Increasing penetration of self-service technology across<br />
North America<br />
3.6.1.2. Rising demand for cashless systems in Europe<br />
3.6.1.3. Increasing number of retail outlets in Asia Pacific<br />
3.6.1.4. Rising economic stability and globalization in Latin<br />
America<br />
3.6.1.5. Growing adoption of reverse vending machine in MEA<br />
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3.6.2. Industry pitfalls & challenges<br />
3.6.2.1. Rising security issues<br />
3.6.2.2. Prohibition of the sale of tobacco products in several<br />
regions<br />
3.7. Growth potential analysis<br />
3.8. Porter's analysis<br />
3.8.1. Supplier power<br />
3.8.2. Buyer power<br />
3.8.3. Threat of new entrants<br />
3.8.4. Threat of substitutes<br />
3.8.5. Internal rivalry<br />
3.9. Competitive landscape, 2017<br />
3.9.1. Company market share analysis<br />
3.9.2. Strategic dashboard<br />
3.10. PESTEL analysis<br />
Chapter 4. <strong>Intelligent</strong> <strong>Vending</strong> Machine <strong>Market</strong>, By Product<br />
4.1. Key trends by product<br />
4.2. Beverage<br />
4.2.1. <strong>Market</strong> estimates and forecast, 2013 - 2024<br />
4.3. Food<br />
4.3.1. <strong>Market</strong> estimates and forecast, 2013 – 2024<br />
4.4. Tobacco<br />
4.4.1. <strong>Market</strong> estimates and forecast, 2013 - 2024<br />
4.5. Others
4.5.1. <strong>Market</strong> estimates and forecast, 2013 – 2024<br />
Industry Coverage<br />
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About Global <strong>Market</strong> Insights<br />
Global <strong>Market</strong> Insights, Inc., headquartered in Delaware, U.S., is a global market<br />
research and consulting service provider; offering syndicated and custom research<br />
reports along with growth consulting services. Our business intelligence and industry<br />
research reports offer clients with penetrative insights and actionable market data<br />
specially designed and presented to aid strategic decision making. These exhaustive<br />
reports are designed via a proprietary research methodology and are available for key<br />
industries such as chemicals, advanced materials, technology, renewable energy and<br />
biotechnology.<br />
Contact Us:<br />
Arun Hegde<br />
Corporate Sales, USA<br />
Global <strong>Market</strong> Insights, Inc.<br />
Phone: 1-302-846-7766<br />
Toll Free: 1-888-689-0688<br />
Email: sales@gminsights.com<br />
Web: https://www.gminsights.com<br />
Blog: www.industry-source.org<br />
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