March 03, 2020
As per the report titled ‘Europe Intelligent Vending Machine Market Size By Product, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, Europe intelligent vending machine market is projected to see considerable growth during 2019-2025.
According to the study, Europe intelligent vending machine market is projected to exceed USD 11 billion by the year 2025. Improving economic condition in consort with rapid urbanization across several countries such as UK, Germany, and France, are driving the market growth. Integration of modern technological features such as ID card identification, facial recognition, and iris recognition systems to strengthen the security of vending machines and to avoid robberies and thefts is further augmenting the demand for intelligent vending machines across the region.
Based on the product type, food dispensing segment is slated to witness a rapid growth over the analysis timeframe owing to the ability of these systems to provide fresh and healthy food products to consumers in public places. Furthermore, strict norms regarding the consumption and sale of food products is prompting vendors to adopt these smart machines.
Speaking of the application scope, retail sector is presumed to account for significant share of Europe intelligent vending machine market over the forecast timeline. The segment growth can be credited to the rapid expansion of the e-commerce industry and progression of multi-channel retailing. Increasing competition among companies is encouraging the manufacturers to develop vending machines with smart features such as biometric scanners and automated doors. This factor coupled with the dense presence of strong market players across the region, especially in France and Italy is supporting the expansion of intelligent vending machine market across Europe.
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Fresh Healthy Vending International, N&W Europe Vending S.p.A., Royal Vendors, Crane Co. Ltd., Azkoyen Group, Fuji Electric Ltd., and Bianchi Vending Group S.p.A are the prominent players of Europe intelligent vending machine market. These market majors are undertaking strategic collaborations and focusing on providing industry specific solutions to get a competitive edge and amplify their margins.
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