USD 9.33 billion Growth in Vending Machine Market Size Due to the Growing Demand For Cashless Vending Machines - 17,000+ Technavio Research Reports

NEW YORK, Aug. 29, 2022 /PRNewswire/ -- The "Vending Machine Market Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the vending machine market between 2020 and 2025 is USD 9.33 billion, as per the latest market analysis report by Technavio. The analysts at Technavio have categorized the global vending machine market as a part of the global electronic equipment and instruments market. Our report provides extensive information on the value chain analysis for the vending machine market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

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• Market Driver: The growing demand for cashless vending machines is one of the key factors likely to drive the market's growth. The increase in smartphone adoption and payments using internet-enabled devices, debit cards, and credit cards are some factors responsible for the growth of cashless payments. Companies are installing vending machines that can accept payments made through credit cards, debit cards, and mobile payments. This helps them to attract the attention of customers, consequently propelling sales. Intelligent vending machines are becoming popular in offices, commercial complexes, institutes, hospitals, hotels, and other public places. Therefore, with the growing inclination of customers toward cashless payments, the demand for and purchase of cashless vending machines is increasing.
• Market Challenge: High initial investments and maintenance costs for vending machines are one of the key challenges hindering the vending machine market growth. End-users require to make huge capital investments in procuring the software and hardware for intelligent vending machines. vendors are coming up with various strategies to reduce their losses. These include absorbing extra costs, rearranging routes, reducing product variety, eliminating unprofitable accounts, raising product prices, and lowering commissions. Thus, the high maintenance costs incurred by intelligent vending machines prove to be a price challenge for the market

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The vending machine market report is segmented by Product (Low end vending machines and Intelligent vending machines) and Geographic (North America, Europe, APAC, South America, and MEA).  

• Regional Opportunities: 38% of the market's growth will originate from North America during the forecast period. The US is the key market for vending machines in North America. Market growth in this region will be faster than the growth of the market in South America and MEA regions. Rising demand for vending machines from retailers and part-time and home-based businesses will facilitate the vending machine market growth in North America over the forecast period.
• Revenue-generating Segment Highlights: The vending machine market share growth in the low-end vending machines will be significant during the forecast period. Low-end vending machines are traditional/conventional vending machines mostly used for dispensing consumer products. In recent years, the number of retail outlets has increased at an exponential rate globally, especially in developing countries, amid rapid urbanization, substantial growth of the organized retailing sector, the rise in overall household disposable incomes, and a noteworthy change in consumer buying behavior. The strong increase in the number of retail outlets is contributing to the growth of the low-end vending machines segment of the market.

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• Azkoyen SA
• Compass Group Plc
• Crane Co.
• FAS International Srl
• Fuji Electric Co. Ltd.
• GLORY Ltd.
• Orasesta Spa
• Royal Vendors Inc.
• Sanden Retail System Co. Ltd.
• Westomatic Vending Services Ltd. 
• Access extensive vendor profiles with their product offerings and strategic moves, Get PDF Sample Now!

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• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by Product
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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