Vending Machines: A Global Strategic Business Report
San Jose, California (PRWEB) November 15, 2012
Follow us on LinkedIn – Technology advancements have made retailing services through vending machines more cutting edge offering compelling benefits to modern time-pressed consumers. From a crude mechanical device, vending machines have developed phenomenally over the years into a sophisticated, touch-screen operated ubiquitous machine delivering anything from live crabs and drinks to music. Vending machine technology continues to transform in recent times with the latest advancements earmarking an era of ‘Intelligent vending machines’. These machines armed with a glut of hi-tech features are designed to enhance user interaction and offer unique vending experience.
Vending operators constantly require new technology to meet a wide set of challenges, including changing purchasing patterns of customers, finicky tastes of youth, environmental concerns, and stringent health initiatives. Some of the interesting advancements in these vending gadgets include touch-screen and interactive LCD display; cashless payment system enabling payment through mobiles and credit/debit cards; telemetry systems; voice recognition system; digital signage providing product, graphical information and video advertisements; and ERP systems. The Internet additionally has helped prop up growth of the vending industry with Internet kiosks opening up additional avenues for market growth. Vending of such services as movie tickets and pre-paid mobile recharge cards are expected to gain momentum in the years to come.
With the fight against obesity and sugary sodas taking a conscious route among all layers of the society, the latest trend in the vending machines is the emergence of healthy vending machines. The market is witnessing an increasing installation of such machines to meet consumers' growing demand for healthy foods including functional foods and organic products. Demand for these healthy vending machines is more predominant in schools and other educational institutes following new laws and standards implemented by the federal government such as ban on sodas and sweetened sports drinks and setting nutritional standards for snacks sold across all schools. Further, with rising environmental awareness across the world, against the backdrop of energy resource depletion, there is an increasing emphasis on energy efficient vending machines.
At present, the vending machinery market continues to confront several challenges including increasing commodity prices and energy costs with persistent headwinds in major developed geographies of the US and Europe weighing down heavily on overall industry growth. However, the drop in sales has been offset to a certain extent by the healthy growth witnessed in developing markets of Asia and Latin America. In addition, the severe impact of the prevailing economic instability has been fairly minimized by the industry’s diversity in the product mix vended. The recent recession interestingly has spurred certain factors in favor of driving up the business case for vending machines. For instance, frugal consumer purchasing behavior has encouraged the use of vending machine cafes. In the long term, the market is expected to gain from renaissance of demand fundamentals such as increasing employment levels, growing disposable incomes, and strengthening consumer confidence.
As stated by the new market research report on Vending Machines, the United States represents the single largest market for vending machines in terms of installed base. Of late, however, the market has been sailing in troubled waters, largely due to factors such as shifting consumer preferences, drop in discretionary spend, increasing competition from other sectors, and rising food prices. In Japan, the vending machine market has been charting a declining pattern on the revenue graph over the past decade, which highlights the region’s mature market levels. Asia-Pacific represents the fastest growing market for vending machines, owing to the steady economic growth, changing consumer behavior, rapid urbanization, and increasing standards of living, particularly across countries such as China and India. A growing clan of modern population in these countries is using vending machines making the industry an indispensable part of modern life.
Segment-wise, Beverage Vending Machines represent the largest as well as the fastest growing segment in the global vending machines market. Increased varieties of and steady demand for beverages is a key demand driver for beverage vending machines, with the largest consumer base being in offices and industrial facilities. Although sales of carbonated beverages have slowed, consumers have shown steady demand for hot beverages like tea and coffee, thus making hot beverage vending machines lesser exposed to the cold desolation of the slowdown. Cigarette Vending Machines market has come under siege due to strict regulatory code that seeks to curb under-age smoking. Legislative changes exerted pressure on cigarettes dispensed through vending machines. As a result, sales of cigarette vending machines especially have and will continue to feel the hardest blow with governments in most countries banning smoking in public places.
Major players profiled in the report include Azkoyen SA, Crane Co., Cubic Corp., Fuji Electric Co., Ltd., Glory Ltd., GTECH Corporation, Maas International Europe B.V., Royal Vendors, Inc., Sanden Corp., and Westomatic Vending Services Ltd.
The research report titled “Vending Machines: A Global Strategic Business Report” announced by Global Industry Analysts, Inc. provides a comprehensive review of market trends, drivers, issues, profiles of major players, product developments and other strategic industry activities. Product sales through vending machines, such as, beverages, food, cigarettes, and other products & services, are analyzed in US$ by geographic regions including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific (excluding Japan), Middle East, and Latin America. The installed base of vending machines, such as, Beverage Vending Machines, Food Vending Machines, Cigarette Vending Machines, and Other Vending Machines, is analyzed in 000 units across geographic regions including the United States, Canada, Japan, Europe (France, Germany, Italy, UK and Rest of Europe), and Rest of World.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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