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CAGR of 11.2%|Intelligent Vending Machine Market (2018–2023) Cumulative Revenue To Be More Than US$ 36.5 Bn

MarketResearch.biz announces publication of its most recently generated research report titled, “Global Intelligent Vending Machine Market by Type (beverages, snacks, and commodity), Application (quick service restaurants, business center, public transport, school/ institutions, and others), Technology (cashless systems, telemetry systems, and voice recognition), and Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa)- Global Forecast to 2028.” which offers a holistic view of the global intelligent vending machine market through systematic segmentation that covers every aspect of the target market. 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.

Definition:

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.

Global Intelligent Vending Machine Market: Market Dynamics

The introduction of 5G is expected to explore new generation technologies which aid to enhance mobile networks capabilities and support flexibility of approach. These include advanced air-interface that is based on a new codec, waveform, large-scale antenna arrays, and multiple access technologies along with fully cloud-based network architecture leveraging Network Functions Virtualization (NFV) and Software Defined Network (SDN). Diverse network components can be integrated and encapsulated on the network by utilizing unified underlying physical infrastructure. Increasing inclination towards contactless payment, coupled with the proliferation of Near Field Communication (NFC) technology is influencing adoption of intelligent vending machines internationally. Rising penetration of smart devices including tablets, smartphones, and laptops among the tech-savvy population is one of the major factor supporting the implementation of NFC technology, which aids to mobile-based payments and contactless debit & credit card payments. 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. In addition, the operators of vending machines get comparatively less profit margin than other sales channels which may challenge growth of the global market to a certain extent.

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.

The Global Intelligent Vending Machine Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global intelligent vending machine market for 2019–2028.