(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 15, 2024 (GLOBE NEWSWIRE) -- The "Connected Vending Machines - 6th Edition" report has been added to ResearchAndMarkets.com's offering. The first solutions for including connectivity in vending machines became commercially available more than two decades ago. It has however taken years for the technology to gain the interest of mainstream vending operators. The report estimates that around 44 percent of the world's nearly 14.8 million vending machines are connected.
The market has continued to gain momentum in recent years, where the demand for cashless payments has so far been a main driver, particularly following the COVID-19 pandemic. Vending telemetry is however anticipated to have a more transformational effect on the industry as these solutions enable operators to improve their operational efficiency.
The global installed base of connected vending machines reached close to an estimated 6.5 million units in 2023. The Rest of the World markets are estimated to represent the largest share of these machines with an installed base of around 2.5 million units. The growth in the Rest of the World markets is primarily driven by the increasing number of connected machines in China and Japan. North America is the second largest market with an estimated installed base of 2.3 million connected vending machines.
In Europe, the installed base of connected vending machines is believed to have reached around 1.8 million units. The report forecasts that the number of connected vending machines worldwide will grow at a compound annual growth rate (CAGR) of 11.8 percent to reach 11.4 million units by 2028. As a result, the global penetration rate will reach 71.3 percent at the end of the forecast period.
Highlights from the report:
Detailed analysis of the vending industry Summary of the latest industry trends and developments Updated in-depth profiles of key players in the vending telemetry and cashless payment markets Reviews of vendor market shares and competitive dynamics Perspectives on the impact of mobile wallet services Extensive global and regional market forecasts lasting until 2028
The report answers the following questions:
How many of the world's vending machines are online today? What is the potential market size for vending telemetry solutions? Which trends and developments are shaping the market? When will cashless payments be commonplace in the vending industry? How will emerging mobile wallet services affect the market? How will the rise of micro markets affect the connected vending machine industry? Which are the leading vending telemetry and cashless payment system vendors?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value in 2022 | 5.8 Million Units |
| Forecasted Market Value by 2027 | 12.3 Million Units |
| Compound Annual Growth Rate | 16.4% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
1.1 Overview of the vending machine industry
1.2 Vending industry players
1.2.1 Vending technology providers
1.2.2 Vending machine manufacturers
1.2.3 Product suppliers
1.2.4 Vending operators
2 Vending Telemetry and Cashless Payments
2.1 Vending telemetry and software
2.1.1 Remote monitoring of vending machines
2.1.2 Vending management systems
2.2 Payment systems
2.2.1 Coin mechanisms and bill validators
2.2.2 Cashless payments
2.2.3 Mobile phone payments and NFC
2.2.4 Biometric payments
3 Company Profiles and Strategies
3.1 Vending telemetry and cashless payment solution providers
aiKATE (VendLOG) Boost inc Cantaloupe CCV CircumTec Datavend Enginko Hug-Witschi Ingenico InHand Networks MatiPay Mecsel N-and Group (IVS Group) Nayax Parlevel Systems (365 Retail Markets) PayRange Payter ProstoPay S+M Silkron SmartNow SmVend Telemetron Televend (INTIS) UPPay Vendekin Technologies VendingMetrics Vending on Track Vendista Vendon Vendotek Vendwatch Telematics Vianet Group
3.2 Vending machine manufacturers
Automated Merchandising Systems Azkoyen Group Bianchi Vending Crane Payment Innovations (Crane NXT) Easy Touch EVOCA Group FAS International Fastcorp Vending Fuji Electric Jofemar Kimma LE Vending Magex Micron Smart Vending Rheavendors Group Royal Vendors SandenVendo Seaga Sielaff TCN Group Unicum Westomatic Wittern Group XY Vending
3.3 Vending operators
Aramark Asahi Group Canteen Chi Forest Coca-Cola Bottlers Japan Coca-Cola Europacific Partners DyDo Group Fenge Shishi (SF Express) Ito En IVS Group Kirin Nongfu Spring Selecta Sodexo Suntory Group UBOX Want Want Group
4 Forecasts and Conclusions
4.1 Major connected vending technology suppliers
4.2 Market forecasts
4.3 Market trends and drivers
The case for vending telemetry and business intelligence improves Cashless payments remain a strong driver for adding connectivity in vending Mobile wallet services are becoming ubiquitous Roll-out of micro markets cannibalises on the vending machine park Grab-and-Go machines provide new opportunities in the vending landscape Consolidation drives growth of connectivity in vending machines China to become a major driving force in the connected vending space
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Global Connected Vending Machines Market
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