Dallas, United States, August 16,2019- According to a new market report published by Lucintel, the future of the global intelligent vending machine market looks promising with opportunities in the office, community buildings, retail stores, and restaurants. The global intelligent vending machine (IVM) market is expected to reach an estimated $26.8 billion by 2024 with a CAGR of 28.2% from 2019 to 2024. The major drivers for this market are increasing adoption of vending machine to enhance customer shopping experience and growing demand for advance vending machine with inventory & transaction management and digital advertising features.
Intelligent vending machine is used for dispensing beverages, candy/snack, and food to customers with cashless payment and other features. On the basis of its comprehensive research, Lucintel forecasts that the beverages will remain the largest segment due to increasing demand for various beverages such as cold drinks, alcohol, juices and energy drinks. Lucintel predicts that food is expected to witness the highest growth over the forecast period due to increasing demand for easily accessible and ready to eat food products.
Within the global intelligent vending machine market, offices will remain the largest end use due to increasing installation of IVM for employee refreshment. Retail store is expected to witness highest growth over the forecast period due to increasing demand of intelligent vending machine for fast and easy operations within the retail stores.
North America will remain the largest region due to increasing adoption of self service technology and emergence of new business models. APAC is expected to witness highest growth over the forecast period as these machines are becoming a major distribution channels for fast moving consumer goods.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing usage of advanced technologies, such as smartphone interaction with facial, gesture, and voice control system and usage of data analytics for enhanced customer experience. Fuji Electric, Evoca, Selecta Group, Crane Merchandising System, Sanden, and Royal Vendors are the major intelligent vending machine manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global intelligent vending machine market by application, by end use, by height, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Intelligent Vending Machine Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global intelligent vending machine market by application, by end-use, by height, and region, as follows:
By Application [$M and units in thousands shipment analysis for 2013 – 2024]:
• Beverages
• Candy/Snack
• Food
• Others
By End Use [$M and units in thousands shipment analysis for 2013 – 2024]:
• Offices
• Community Buildings
• Restaurants
• Retail Stores
• Others
By Height [$M and units in thousands shipment analysis for 2013 – 2024]:
• 65-75 Inches
• 25-35 Inches
By Region [$M and units in thousands shipment analysis for 2013 – 2024]:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Russia
o United Kingdom
o Italy
• Asia Pacific
o China
o Japan
• The Rest of the World
o Brazil
o Turkey
This 200-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
