Smart Vending Machines Market Scope
Smart vending machines provides wide range of products with multimedia display. It provides personalized offers to upsell, cross sell to increase the basket value of the shopper. Vending machine offers variety of options such as cash and cashless options as well as QR coupon redemption. In addition to that, it engages the shoppers with options such as touch screen control, audio, video and gesture based interaction. Hence, these features, boosts sales, improves efficiency and hence profit.
Research Analyst at AMA estimates that Japan Vendors will contribute to the maximum growth of Global Smart Vending Machines market throughout the predicted period.
Fuji Electric (Japan), Azkoyen Group (Spain), Crane Merchandising Systems (United States), Sanden (Japan), N&W Global Vending (Spain), Seaga (United States), Royal Vendors (United States), Azkoyen (Spain), Sielaff (Germany) and Bianchi Vending (Italy) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Jofemar (Spain), FAS International (Italy), Automated Merchandising Systems (United States), Deutsche Wurlitzer (Germany) and TCN Vending Machine (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Smart Vending Machines market , by Application (Shopping mall, Retail Store, Public transport, Institution and Others) and Region with country level break-up.
On the basis of geography, the market of Smart Vending Machines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In 2019, Fuji electric has entered into the agreement with Peepul Capital Fund lll LLC to acquire Consul Neowatt Power Solutions Private Limited (CNPS) which is the power electronic manufacturer.
Market Trend
- Availability of Internet of Things Solutions for Vending Machine Which Helps to Prevent Stock Outs and Malfunctions
Market Drivers
- Rising usage of vending machines in retail to improve shopping experience of customer. Vending machines are loaded with variety of snacks, drinks and meals which the customers can chose from. Further, it provides accessibility and convenience to customers. These factors are fuelling the market growth.
Opportunities
- Increasing Demand of Retrofit Vending Machines Which Enables up Gradation of Conventional Vending Machine to Smart Ones.
Restraints
- Heavy Taxation Imposed on the Site of Location
- Vandalism by Unruly Groups or Competitor may hamper the Market
Challenges
- Security Concerns in Vending Machines may hamper the Market
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations