Title: IntelligentVendingMachinesMarketStudyfor2022to2030 providinginformationonKeyPlayers,GrowthDriversandIndustry challenges
TheGlobalIntelligentVendingMachinesvaluedatUS$23.60Billionin 2022isanticipatedtoreachavalueofUS$64.08Billionin2030, growingataCAGRof13.3%.
Overtheprojectionperiod,theindustry'sgrowthisanticipatedtobe drivenbythespikeindemandforself-servicetechnologyacrossEurope andtheNorthAmericanarea,whichiscausedbyadvancementsin automationtechnologyandthegrowinguseofcontactlessvending machines.TechnologiesincludingLCD/touchscreen,gesture-based interface,cashlesssystems,telemetrysystems,speechrecognition, digitalsignage,andenterpriseresourceplanning(ERP)systems,among others,areintegratedintointelligentvendingmachines.
Withtheuseofanumberofsimplepaymentoptions,includingdebitor creditcards,mobilewallets,andQRcodes,amongothers,these integrateddevicesmakeitpossibleforcustomerstoself order. Intelligentvendingmachinescancommunicatewithcustomersthanks totheintegrationofcutting edgetechnologylikeIoT,cloud,smart
sensors,voiceandfacialrecognition,centralpricecontrol,andreal time salesdataanalytics.Byevaluatingandrespondingtoconsumer behaviourandofferingagreatervisualexperiencewithinteractive marketingpromotions,thesesophisticatedfeaturesgiveintelligenceto theintelligentvendingmachines.
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Theintelligentvendingmachinehasdynamicfeaturesincluding effectivestockcontrol,proactivemaintenance,intelligentpayment alternatives,andnumerouspaymentways,amongothers.Oneofthekey driversoftheintelligentvendingmachinemarketgrowthistherising desireforcashlesspaymentsamongconsumersfollowingtheCOVID-19 epidemic.Theadoptionofintelligentvendingmachinesin manufacturing,retailmalls,andofficebuildingshasbeenfurther facilitatedbytheadvancementofmobilepaymenttechnologiesdueto technologieslikeNear-fieldCommunication(NFC),whichhasmadethe paymentprocessfaster,easier,andcontactless.Thishassignificantly reducedthecostsassociatedwithcashmanagementandreducedthe riskoftheftandvandalism.
Thedynamicsofthemarketforintelligentvendingmachineshave drasticallychangedasaresultoftheCOVID 19epidemic.Inorderto controlthespreadofCOVID 19,offices,shoppingmalls,andretail establishmentsweretemporarilyclosed.Thishadashort term detrimentalimpactonthemarket.However,withtheresumptionof manufacturingandcommercialofficespace,thesectorexperienced tremendousdevelopment.
Key Trends of Global Intelligent Vending Machines:
Increasing adoption of the Internet of Things (IoT)
TheincreasingadoptionoftheInternetofThings(IoT)andconnected devicetechnologiesisanticipatedtosupportthegrowthofthe intelligentvendingmachinesmarketduringtheforecastperiod. Consumers’increasingadoptionofcashlessandcontactlesspaymentsto makefood&beveragespurchasesisfurtherdrivingthemarketgrowth.
Segmental Analysis of Global Intelligent Vending Machines:
Based on Product
Thesnackscategoryisestimatedtoemergeasthefastest-growing productsub-segment,registeringaCAGRof14.9%duringtheforecast period.Thisisattributedtotheincreasingfocusonhealthyproducts, longerworkinghours,andinnovativenewproductlaunches,among others.
Based on Application
Officesarethefastest growingsegmentoftheintelligentvending machinemarketgrowingataCAGRof14.8%duringtheforecastperiod.
Theadoptionofintelligentvendingmachinesinavenuessuchas commercialofficesandindustrialsectorsisgainingtractioninrecent timesduetothegrowingpreferenceforcontactlesstransactionsand easeofuseinvendingproducts.
Competitive Landscape:
CraneCo.,AdvantechCo.Ltd.,Bianchi,VendingGroupS.p.A,Azkoyen Group,FASInternationalS.p.A.,N&WGlobalVendingS.p.A.,Rhea VendorsGroup,WestomaticVendingServicesLtd.,SandenCorp.,Seaga, JofemarandRoyalVendors.
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Frequently Asked Questions
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