New York City, NY: Jun 25, 2019 – Published via (Wired Release) – Intelligent vending machines are advanced machines which are designed to gather, transmit and analyze the information and dispense product requested by end user. These systems are intended to offer convenience and better user experience by using smart technologies including biometrics and other related technologies.
The first five-year cumulative revenue (2018–2023) is projected to be more than US$ 36.5 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period. The global intelligent vending machines market is estimated to value at nearly US$ 6.5 Bn in 2019, and is expected to register a CAGR of 11.2%.
Increasing fiber cable deployment activities in order to increase connectivity for long distance and achieve uninterrupted communications, and several features offered by these frames including full tool-less installation, front accessibility, and ultra-high density connectivity in a highly modular and lightweight frame are some of the key factors expected to drive growth of the target market during the forecast period.
However, the high cost of these vending machines coupled with maintenance cost is some of the major factors expected to hamper the global intelligent vending machine market growth the forecast period.
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Global Intelligent Vending Machine Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global intelligent vending machine market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global intelligent vending machine market is estimated to expand at a CAGR of 11.2% during the forecast period.
Global Intelligent Vending Machine Market: Segmental Snapshot
The global intelligent vending machine market report has been segmented on the basis of type, application, technology, and region. The type segment includes beverages, snacks, and commodity. The application segment includes quick service restaurants, business center, public transport, school/ institutions, and others. The technology segment includes cashless systems, telemetry systems, and voice recognition. The regions covered in the analysis include North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
By Type:
Among type, snacks segment is expected to register highest CAGR of 11.2% over the forecast period.
By Application:
Among application, business center segment is expected to register highest CAGR of 12.5% over the forecast period.
By Technology:
Among technology, telemetry systems segment is expected to register highest CAGR of over 11.4% over the forecast period.
By Region:
Among region, Asia Pacific is expected to account highest CAGR of 12.1% over the forecast period.
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Global Intelligent Vending Machine Market: Competitive Analysis
The research report on the global intelligent vending machine market includes profiles of major companies such as Crane Co., Canteen Vending Services, Inc. (Compass Group USA, Inc.), Fuji Electric Co., Ltd., Royal Vendors, Inc., Bianchi Vending Group S.p.A., Intel Corporation, Azkoyen, S.A., Westomatic Vending Services Ltd., and Jofemar SA.
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