March 03, 2020
As per the report titled ‘North America 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, North America intelligent vending machine market is anticipated to grow momentously through 2025.
Increasing adoption of smart automation solutions for sales process across several application areas is driving the growth of North America intelligent vending machine market. Citing an instance, in January 2019, PepsiCo partnered with Robby Technologies to develop self-driving vending machine called Snackbot which carries variety of food & beverages around. Technological advancements such as automation of retail and warehouse industry will augment the market growth in the forthcoming years. The report cites that North America intelligent vending machine market will reach USD 14 billion by 2025.
Based on the product type, food-based vending machines segment is anticipated to witness sizeable growth in the coming years owing to the growing demand of these machines across various application sectors including shopping malls, schools, retail, and public transport sties. The ability of these machines to prevent food contamination and ensure food safety is a major parameter fostering the demand for these units. Shifting consumer preference for consuming nutritious & health food, in tandem with increasing deployment of efficient and sustainable food vending machines by major companies is rendering a positive impact on the segment growth.
Speaking of the application segment, North America intelligent vending machine market from retail sector is anticipated to gain decent traction over the study period. Growing trend of automating outlets is encouraging retailers to install intelligent vending platforms. Improved customer experience, high efficiency, and low operational costs are supporting the demand for intelligent vending machines across the retail sector. Integration of advanced technologies such as IoT connectivity, cashless payments, and remote manageability is stimulating the segment growth. Furthermore, market giants are incorporating connected solutions to these machines to gain real-time customer behavioral and transactional data, hence unveiling potential growth prospects for the market landscape.
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The major players of North America intelligent vending machine market are Royal Vendors, Bianchi Vending Group, Glory Ltd., Crane Co., IBM Corp., Hitachi Ltd., Aramark Corp., Compass Group, and Azkoyen Group. These companies are employing several strategies such as product differentiation, new product offerings, mergers, acquisitions, and collaborations to capitalize on the demand & supply pattern of the industry.
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