Intelligent Vending Machines Market Share By Top Key Players; Azkoyen Group, Bianchi Industry SpA, Continental: Dining • Refreshment Services • Events, Crane Merchandising Systems, Fuji Electric Corp. of America, Jofemar Corp., Compass Group

Intelligent Vending Machines Market growth is driven by increased adoption of interactive technologies in various application areas. Several manufacturers are introducing online vending machines that allow customers to purchase items over the internet. These machines provide customers with internet connectivity and allow the online purchase of products through smartphone applications. In the coming years, such interactive solutions will attract more customers to stores that shop using such machines. Several manufacturers in the market are integrating these machines with cashless payment technologies. For instance, otiMetry is offering a modular solution to add the functionality of cashless payments to beverage vending machines.

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Intelligent Vending Machines Market size is set to exceed USD 30 billion by 2024. The industry shipments are expected to grow at a CAGR of 14% from 2018 to 2024. Increased adoption of interactive technologies in various application areas is driving the intelligent vending machine market growth. Several manufacturers are introducing online vending machines that allow customers to purchase items over the internet.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Azkoyen Group
2. Bianchi Industry SpA
3. Continental: Dining • Refreshment Services • Events
4. Crane Merchandising Systems
5. Fuji Electric Corp. of America
6. Jofemar Corp.
7. SandenVendo America, Inc.

These machines provide customers with internet connectivity and allow the online purchase of products through smartphone applications. In the coming years, such interactive solutions will attract more customers to stores that shop using such machines. Several manufacturers in the market are integrating these machines with cashless payment technologies. For instance, otiMetry is offering a modular solution to add the functionality of cashless payments to beverage vending machines.

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Beverage dispensing machines are witnessing a high demand in the intelligent vending machines market and are anticipated to grow at a CAGR of around 16% over the forecast timespan due to the increasing consumption of several types of beverages including cold drinks, alcohol, juices, and energy drinks. Some of the major countries that have a high consumption rate of the soft drinks include the U.S., Argentina, Chile, Mexico, and Uruguay. However, the U.S. is among the top countries considering alcohol consumption rates. Retail outlets in these countries are involved in automating their outlets by incorporating vending solutions. They are utilizing these automated technologies to serve different types of beverages to their customers, thereby enhancing the shopping experience. Such factors are expected to drive the intelligent vending machine market growth.

In the intelligent vending machines market, the retail sector accounted for over 15% of the industry in 2017 and is experiencing high adoption due to the increasing transformation of these outlets to the mechanized stores. Retail store owners are incorporating such advanced technologies to provide sophisticated solutions to their customers, which will save the time that they spend in queues. Intelligent vending machiness help customers in gaining information about the features, pricing, and offers & discounts associated with these products. This helps in accelerating the shopping process with a detailed product overview and various payment options. The incorporation of such smart solutions in stores is driving the sales and profitability of the retail businesses, thereby accelerating the market demand.

Increasing applications of smart dispensing solutions at public transport hubs such as airports, railways stations, and bus stands are predicted to accelerate the intelligent vending machines market. The adoption of food & beverage-dispensing equipment in these places is growing rapidly. These transportation hubs are engaged in transforming their manual operational techniques to automated technologies. For instance, the Indian Railways is investing heavily in automation. In June 2018, it installed automatic food vending machines in the Coimbatore-Bengaluru UDAY Express. These machines are operated using a tablet. Moreover, they are planning to install such systems in several other trains in the future, accelerating intelligent vending machines market.

Browse key industry insights spread across 150 pages with 251 market data tables & 22 figures & charts from the report, Intelligent Vending Machine Market in detail along with the table of contents:

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The Europe intelligent vending machines market is rapidly growing owing to the rising adoption of smart technologies for serving customers in several application areas. These machines are allowing customers to change their mode of payment to cashless transactions. Countries including Sweden, Germany, France, the UK, and Italy are developing various initiatives and programs to digitize the payment process. Sweden is a leading country to adopt stringent guidelines for transforming itself into a cashless economy. For instance, in 2013, some of the major banks including Nordea Bank, SEB, and Swedbank refused to hand over physical currency to its customers in over 75% of their branches in the country. Such digital currency initiatives are encouraging the market players to develop advanced solutions that will support cashless payments.

Though U.S. has the most vending machines in the world, Japan has the highest density of vending machines with 5.5 million machines in 2016 that put one machine for every 50 people and is known for carrying more range of products that available anywhere else in the world. Fascination with technology, low crime rate, need for convenience etc. have driven the vending machine market in the country, but Japan being the pioneer of technology has presented the next step for intelligent vending machine market.

Remarkably, the cashless, smart vending machines in Japan are enabled with face, eye, or fingerprint recognition as well as social media connectivity. In case a customer cannot decide between different options, vending machines are designed to scan faces to make a choice for them. For instance, face-scanning machines dispensing beverages use big data analytics and machine-learning and make a choice based on the age of the customer. If above 30 years old, it offers hot milk tea, green tea or orange juice while for younger customers it offers soft drinks as such preferences have been depicted by people of respective age groups.

Key players operating in the intelligent vending machines market are American Vending Machines, Automated Merchandising Systems, Inc., Azkoyen Group, Bianchi Industry SpA, Bulk Vending Systems, Compass Group, Continental: Dining • Refreshment Services • Events, Crane Merchandising Systems, FAS INTERNATIONAL S.P.A., Fuji Electric Corp. of America, Jofemar Corp., Royal Vendors Inc., SandenVendo America, Inc. and SEAGA Group Australia Pty. Ltd.

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