Growth forecast report “ Connected Vending Machines Market Size by Product Type (Beverage, Commodity, Food and Other), By Application (Airport, Railway Station, School, Business Center and Other), By Region Outlook (United States, China, Europe, Japan, Southeast Asia & India), Top Manufacturer, Growth Potential, Price Trends, Competitive Market Share & Forecast 2021-2026 added by Market Study Report.
The global Connected Vending Machines Market is valued at 779.8 million US$ in 2020 is expected to reach 1304.4 million US$ by the end of 2026, growing at a CAGR of 7.5% during 2021-2026.
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Connected vending machine is a machine that dispenses items such as snacks, beverages, alcohol, cigarettes, lottery tickets to customers automatically, after the customer inserts currency or credit into the machine. The first modern vending machines were developed in England in the early 20th century and dispensed postcards.
Connected vending machine is the contactless payment-enabled vending machines that support both online payment and site payment. It can also calculate the amount of the sold products and send messages automatically when the products are going to be sold out.
The first solutions for including connectivity in vending machines became commercially available already two decades ago. It has still taken years for the technology to gain the interest of mainstream vending operators. The market has nevertheless gained momentum in recent years as more and more vending operators have started to deploy cashless payment systems and vending telemetry solutions at a larger scale. Demand for cashless payments is currently the main market driver. However, vending telemetry is forecasted to have a more transformational effect on the industry in the future as these solutions enable vending operators to substantially improve their operational efficiency. The global installed base of connected vending machines grew by 16.22 percent to over 140 thousand units in 2014.
How extensively has the industry been segmented in terms of the product and application landscapes?
- The report encompasses a generic outline of the Connected Vending Machines market with respect to the product types as well as applications.
- The product landscape, as claimed by the report, is classified into the type such as Beverage, Commodity, Food and Other.
- The report not only features extensive information with respect to the valuation held by every product, but also elaborates on the price models and the production volume.
- Considering the application terrain, the report effectively categorizes the same into Airport, Railway Station, School, Business Center and Other.
- The study delivers expansive details regarding the segment, particularly focusing on the product consumption with respect to every application sector.
- Also, the remuneration accrued by every application segment has been provided in the report, alongside the consumption market share.
- Not to mention, the consumption growth rate of every application has also been provided, enabling the consumer to better understand the growth path of the application in question.
The competitive spectrum holds a pivotal position in the Connected Vending Machines market, given that it is bound to help emerging entrants and prospective shareholders decide on the possibilities of penetrating the industry at the opportune time. The details of the competitive landscape outlined in this report are likely to provide an analysis of the prominent industry vendors, their growth profiles, strategies and tactics, etc., that would help investors in decision-making.
As per the report, the Connected Vending Machines market is segmented into Fuji Electric, Azkoyen Group, Crane, Jofemar, Westomatic, Seaga, Evoca Group, Deutsche Wurlitzer, Automated Merchandising Systems, Sielaff, Bianchi Vending Group, Royal Vendors, FAS International, SandenVendo, Fushi Bingshan, TCN Vending Machine, Fuhong Vending, Kimma and etc with respect to the competitive spectrum. The study includes elaborate details regarding these companies, including the market share that each firm accounts for in the industry and the production capacity.
Some other pivotal details include a brief overview of the firm – generic outline, product description, present valuation and standing in the industry, etc.
A detailed cover-up of the regional landscapes of the Connected Vending Machines market:
- The study extensively elaborates on the geographical expanse of the Connected Vending Machines market, spanning zones such as United States, China, Europe, Japan, Southeast Asia & India.
- The market share that each region holds, alongside the growth prospects of the region, in consort with the growth rate that every topography is projected to register over the forecast period have been delivered in the Connected Vending Machines market report.
Frequently Asked Questions
- What will be the CAGR of the Connected Vending Machines market during the forecast period?
- Which product segment grabbed the largest share in the Connected Vending Machines market?
- What will be the Connected Vending Machines market size by 2026?
- How is the competitive scenario of the Connected Vending Machines market?
- Which are the key factors aiding the Connected Vending Machines market growth?
- Which region holds the maximum share in the Connected Vending Machines market?
- Which application segment emerged as the leading segment in the Connected Vending Machines market?
- What key trends are likely to emerge in the Connected Vending Machines market in the coming years?
- Which are the prominent players in the Connected Vending Machines market?
- Which company held the largest share in the Connected Vending Machines market?