Smart Vending Machines With Iot, Transforming Vending Machines Industry

By Goldstein Market Intelligence || 2018-11-30 9:48:53 AM

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According to Goldstein Research, technology advancement has led smart vending machines to interact with the people in terms of gesture sensing, cashless payment, NFC, voice recognition, touch panel, and a lot more. Further, smart technologies will fuel the increasing variety and customization of products offered through vending machines. Moreover, on-the-consumption of food and beverages at airports, railways station and other such places will provide the major opportunities for the market players. For instance, automated retail units in airports produce average gross sales of more than USD 100,000 per year, with expected growth of 10% per year, as per the data provided by the Airports Council International-North America. Our study of Smart Vending Machines Market outlook also comprises new business models, product developments and capital investment as the key strategies adopted by the major players for a significant market expansion in developed and as well as in developing countries around the world.

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Key Market Drivers:

Opportunities enabled by mobile phones

Receive payments and transfer vouchers with the swipe of a phone using near-field communication technology.

Pricing power

Grasp a higher price for products (e.g., coffee) by using a vending machine’s advanced technology display and interactivity to position them as innovative quality than others sold in machines.

Increased user interactivity

Interact with both the customer and the customer’s smart phone, add intelligence to detect and respond to individual viewers, and provide a dynamically visual experience with high-definition displays running rich graphics and interactive promotions.

Market Segmentation

Global smart vending machines market can be segmented as follows:

By Product Specialization

  1. Single specialized machines
  2. Full-line machines

By Product Type

  1. Beverage
  2. Food
  3. Commodity

By Application

  1. Offices
  2. School/Institutions
  3. Airports/Railway stations
  4. Others (entertainment places, city streets, etc.)

By Geography

  1. North America
  2. Europe
  3. Middle East and Africa
  4. Latin America
  5. Asia Pacific

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This market study provides insights into the many conclusions from the Frost & Sullivan report, including an intelligent vending machine market forecast, key drivers, restraints and challenges, geography-focused insights, and an overview of the Intel technologies that are expected to play a major role in this industry transformation. This market report also includes competitive outlook of some of the major players profiling of companies such as N&W Global Vending S.p.A., Cantaloupe Systems, Seaga, Fas International, Rhea Vendors Group, Azkoyen Group, Sielaff GmbH & Co. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global smart vending machines market trends along with a market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

Key queries answered in this global smart vending machines market report

  1. Present and future smart vending machines market outlook in the developed and emerging markets
  2. Investigating various perceptions of the market with the help of Porter’s five forces analysis
  3. Key market trends across the segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
  4. A regional outlook that is projected to witness the fastest growth over the forecast period
  5. Key developments and strategies employed by the major market players.
  6. Market opportunities for the prevailing and entry-level players?

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