The vending machines are portable automatic machines that dispense different products when money is inserted. Developing countries have adopted vending machines which are very convenient to use. Vending machine technology continues to provide latest advancements such as face recognition systems, and ID card identification to check the buying history of customers, thereby ushering an era of technologically advanced vending machines. The use of vending machines helps companies in strengthening their pricing power, while improving on their operating margins. Customers also remain benefited with the right product mix offered by the companies. This would help companies to increase their sales per transaction. The demand for vending machines has increased during the decade and with the introduction of cashless payment systems, the smart vending technology solutions are gaining the momentum on a large scale.
The demand for self-service machines and automated devices, wireless communication, technology advancements and remote management are some of the notable factors driving the global Vending Machine market. Increasing urbanization and rising disposable income have fuelled the growth of vending machines. Governments of various regions restricted the use of food and beverage vending machines in many places such as schools, and colleges, thereby limiting the demand for these machines. However, companies have started introducing technologically advanced products under the strict adherence to the government regulations. Biometrics for self-service products helped consumers to experience secure and safe transactions.
Vending Machine market is segmented into Beverage Vending Machine, Candy Vending Machine, Snacks Vending Machine, Gumball Vending machine, Cigarette Vending Machine and Specialized Vending Machines. Beverage vending machines have dominated the overall vending machine market in terms of revenue generation, followed by the snacks vending machine throughout the analysis period. The maximum growth is witnessed in specialized vending machine; this segment would grow with the maximum CAGR during the forecast period (2016-2022). Based on the solution type, the global vending machine market is segmented into deployment type and managed services type. In 2014, deployment segment dominated the global kiosk market. The report also highlights the market of vending machine across different geographies which include North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa).
The report covers the analysis of key stake holders of the vending machine market. Key companies profiled in the report include Azkoyen Group, Compass Group, Plc., Honeywell International, Inc., Aramark Corporation, Fujitsu Limited, Hitachi Ltd. and others.
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