The Global Installed Base of Vending Machines is Projected to Reach 29.2 Million Units by 2022

Smart, Intelligent and Connected Vending Machines and Advancements in Payment Options Drive the Global Vending Machines Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Vending Machines market. The global installed base of Vending Machines is projected to reach 29.2 million units by 2022, driven by advancements in vending technology, favorable trends in food consumption, growth in food retailing infrastructure, transformation in vending machine payment options, and growing penetration of intelligent, smart and connected vending machines.

Vending machines, designed to dispense consumer products and other goods and services, are widely used in the automatic retailing market as well as in public buildings, hospitals, gas stations and airports. Growing from the confines of dispensing convenience foods & beverages such as cupcakes, organic foods, pasta dinners, coffee, snacks, frozen foods, eggs, milk, and fresh foods to on-the-go consumers, this ultimate self-service vehicle is today used in retailing a wider range of products, such as, gold bars, jewelry, tickets, perfumes, stationary fresh flowers, toys, books, video games and music, among others. These machines have witnessed notable evolution over the years and now feature interactive displays, telemetry systems, cashless payment options, face recognition systems, and ID card identification providing convenience to consumer and service providers, ushering an era of intelligent vending solutions. The demand for automated, self-service machines coupled with penetration of wireless communication and ongoing technology advancements are expected to provide a strong impetus to the market.

Future growth of the vending machines market is also likely to be driven by rapid urbanization and increasing disposable incomes. The growth is also attributed to the ability of these machines to reduce dependence on retail outlets, ensure uninterrupted supply of goods, and help companies lower operation costs. Ongoing technological advancements coupled with widespread prevalence of the Internet is anticipated to help market participants achieve desirable levels of automation and improve user experience. The connectivity enabled by the IoT is likely to facilitate fully-autonomous operations and provide avenues to integrate various cross-industry models, services and products. The technology holds potential to improve vending efficiencies as well as drive customers to spend more per transaction. Several companies are also focusing on vending machines for handicap and blind people, which is expected to provide new opportunities for machine suppliers. Advanced technologies are helping machine owners and advertisers in tracking potential customers, enhancing consumer experience and providing them with exciting offers through coupons and vouchers to boost revenues.

OCS (Office Coffee Service) vending machines, now key to the vending industry, have significant growth potential. Micro markets, similar to OCS, are a major segment of the vending industry experiencing significant attention and are likely to exhibit high growth in the coming years. Fresh foods of different varieties will always attract customers, and micro-markets are now found in places as diverse as pharmacies, quick-service hotels, convenience and general stores. The deployment of machines vending healthy and fresh food products is propelled by increasing health awareness among customers. The strong demand for healthy foods has prompted vending machine suppliers to shift their focus from machines vending only fast foods to deploy machines vending healthy, fresh foods at public places.

As stated by the new market research report on Vending Machines, the United States represents the single largest market worldwide in terms of installed base. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 4.9% over the analysis period led by growing population, globalizing lifestyles and consumerism and the ensuing robust demand for packaged and ready-to-eat food & beverages especially among the growing base of affluent middle class population.

Key players covered in the report include Azkoyen Group, Crane Co., Crane Merchandising Systems Ltd., Fuji Electric Co., Ltd., Glory Ltd., Maas International Group, Royal Vendors, Inc., Sanden Holdings Corp., SandenVendo America, Inc., Seaga Manufacturing, Inc., VE Global Vending Inc., and Westomatic Vending Services Ltd., among others.

The research report titled “Vending Machines: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in terms of installed based and revenues generated from sale of products through vending machines for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). The report provides market estimates and projections in terms of installed base for product segments - Beverage Vending Machines, Food Vending Machines, and Other Vending Machines. The report also provides market estimates and projections in terms of revenue generated from sale of products through vending machines for product segments - Beverage, Food, and Other Products & Services.

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