Global Vending Machine Market 2019-2023

Global Vending Machine Market 2019-2023

  • November 2018 •
  • 107 pages •
  • Report ID: 3326383 •
  • Format: PDF
About this market

The rise in adoption of intelligent vending machines to propel growth in the market. Unlike conventional vending machines that just dispense products, intelligent vending machines have advanced features such as operations and inventory management, customer analytics, transaction management, software and platform management, and digital advertising and content management systems. Technavio’s analysts have predicted that the vending machine market will register a CAGR of almost 17% by 2023.

Market Overview
Evolution of cashless payments
There has been an exponential increase in cashless and digital modes of transactions over the past five years. The burgeoning trend in digital and cashless payments has promoted retailers to install vending machines that accept such payments to increase sales and enhance customer convenience.
High cost of vending machine
Most branded vending machines are capital intensive and procuring their hardware and software involves huge capital investments.
For the detailed list of factors that will drive and challenge the growth of the vending machine market during the 2019-2023, view our report.

Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Azkoyen Group and Crane the competitive environment is quite intense. Factors such as the rise in adoption of intelligent vending machines and the evolution of cashless payments, will provide considerable growth opportunities to vending machine manufactures. Azkoyen Group, Crane, Fuji Electric, GLORY, and SANDEN HOLDINGS CORPORATION are some of the major companies covered in this report.

‘With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.’