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Intelligent Vending Machine Market Eminent Players – Azkoyen Vending Systems, American Vending Machines, Bulk Vending Systems, Automated Merchandising Systems, Evoka Group, Bianchi Industry SpA, Crane Merchandising Systems, Continental Vending

05-05-2021 02:45 PM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Intelligent Vending Machine Market

Intelligent Vending Machine Market

Will ‘go green’ approach reinforce intelligent vending machines market outlook through 2024?

Amid soaring concern pertaining to climate change, intelligent vending machines market players are vying to address the issue and acknowledge ‘go-green’ approach. In light of it, preeminent players in the ecosystem are introducing eco-friendly and recycling vending machines that are expected to cater to the needs of stakeholders. As such, predominant players, including Coca-Cola have come up with smart vending machines that are integrated with the recycling technologies. Assessing a host of factors, Global Market Insights, Inc. predicts intelligent vending machines market size will potentially hit US$30 billion by 2024.

Rising traction for beverage dispensing machines has fared well for the growth of intelligent vending machines market share. Estimates claim that beverage segment is likely to register a robust CAGR of around 16% during the assessment period 2018-2024. While the U.S. reigns supreme with respect to alcohol consumption, emerging countries in Latin America have begun to reap rewards from intelligent vending machines.

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Retail outlets in these regions have done away with brick and mortar strategy and have embraced automation through vending solutions. Nevertheless, automated technologies have acknowledged the need for combating climate change and are making its presence felt in ‘go green’ initiatives undertaken by stakeholders globally.

Offering a seamless customer experience, intelligent vending machine technology is evolving quickly, and new machines are engaging customers with video, audio, touch-screen controls and gesture-based interaction, to name a few.

What impetus will public transport hub segment provide to intelligent vending machines market by 2024-end?

Adoption of smart dispensing solutions in public transport hubs, including railway stations, airports and bus stands is slated to spur intelligent vending machines market trends by 2024-end. In addition, the innate ability to retrofit current machines with sophisticated technological capabilities will further the growth in the landscape.

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In line with the trend, the Indian Railways Catering and Tourism Corporation (IRCTC) installed tab-operated automatic vending machines (AVM) on board the Coimbatore-Bengaluru UDAY Express in June 2018. The sophisticated AVM will provide a myriad of snacks and beverages, including chips, biscuits, aerated drinks, and packed eatables, namely.

Will Europe defy Brexit riddle and reign supreme during the assessment period?

As Europe grapples with Brexit conundrum, stakeholders are optimistic of intelligent machines market outlook. The smart vending machines offer greater agility with seamless support. Prominently, foraying into automated retailing has become the trendsetter in Europe as players look to leverage each customer with seamless experience.

When it comes to cashless economy, Sweden appears to lead from the front as the country has implemented rigorous guidelines to keep cash economy at bay. According to World Economic Forum (WEF), Sweden could stop using cash by 2023. Nonetheless, going cashless has helped banks minimize the risk of robbery.

Why have stakeholders pinned hope on food dispensing machines?

As stakeholders jockey to propel customer relationship management (CRM), they have pinned hope on food dispensing machines. The popularity of these sophisticated machines among end-users has instilled confidence among stakeholders. Predominantly, evolution in food dispensing machines has helped in expanding product penetration strategy as sophisticated and state-of-the-art machines come equipped with advanced storage technology, further impelling intelligent vending machine industry share through the forecast period.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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