Emergence of Intelligent Self-Service Machines Drives the Global Vending Machines Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) September 23, 2014 -- Follow us on LinkedIn – Vending technology dubbed as V-Commerce is an emerging new market created by the growing deployment of self-service retail vending machines. The last decade witnessed dramatic evolution of the vending industry. Growing from the confines of dispensing convenience foods & beverages such as cupcakes, hot burritos, organic foods, pasta dinners, coffee, snacks, lobster bisque, frozen foods, eggs, milk, and fresh foods to on-the-go consumers, this ultimate self-service vehicle is today used in retailing a wider range of products, such as, fresh flowers, jewelry, cameras, toys, books, audio books, DVDs/CDs, video games and music, among others. Vending of services such as movie tickets, and pre-paid mobile recharge cards, although currently a fledging concept, is expected to gain momentum in the coming years. Other factors expected to drive growth in the market include growing popularity of self-service checkouts, launch of intelligent vending machines, and growing focus on eliminating the cost of expensive rental spaces. With modern day consumers preferring anytime, anywhere convenience, vending machines are growing in popularity, making the equipment indispensable in retail trade.
Technology developments are expected to benefit market growth with manufacturers focusing on development of sophisticated machines with Wi-Fi connectivity; touch-screen enabled interactive LCD display, and voice recognition and high definition video capabilities. Technology innovations have also helped change consumer perception of vended products, infusing greater trust in the reliability of the machines, and in the quality of both the service rendered and in the products vended. Also growing in popularity are machines featuring both contactless and contact payment options. Cashless vending machines are witnessing robust growth at the expense of traditional cash-only based machines.
Demand for healthy vending machines stands poised to benefit from stringent government intervention aimed at utilizing vending machines as a tool to ensure anytime, anywhere, affordable access to healthy foods and beverages. To curb growing obesity rates, intelligent vending machines capable of displaying nutritional details of the dispensed food product are witnessing sturdy growth in demand. These machines feature digital displays with attractive graphics to display nutritional information of vended products in addition to providing calorie count information to the consumer in a bid to change the way people eat. Additionally, growing consumer demand for fresh and healthy-for-you foods is resulting in increased popularity of fresh food vending machines that dispense fresh food products such as, hot meals, sandwiches, fries, salads, hot baked goodies, gourmet coffee, freshly-baked cupcakes, pizzas, organic foods, burritos and bananas.
As stated by the new market research report on Vending Machines, the United States represents the largest regional market worldwide in terms of installed base. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 5.2% over the analysis period. Growth in the region is led by growing population, expanding base of young professionals, westernization of consumer lifestyles, rising disposable income, rapid urbanization, increased spending on premium lifestyle products, increase in the number of dual income nuclear families & single-person households, and a parallel increase in home meal replacement and consumption of ready-to-eat products.
Key players covered in the report include Azkoyen Group, Crane Co., Crane Merchandising Systems Ltd., Dixie-Narco, Inc., Fuji Electric Co., Ltd., Glory Ltd., GTECH S.p.A, Maas International Europe B.V., Royal Vendors, Inc., Sanden Corp., SandenVendo America, Inc., Seaga Manufacturing, Inc., and Westomatic Vending Services Ltd., among others.
The research report titled “Vending Machines: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in terms of installed based and revenues generated from sale of products through vending machines for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East and Latin America (Brazil and Rest of Latin America). The report provides market estimates and projections in terms of installed base for product segments - Beverage Vending Machines, Food Vending Machines, and Other Vending Machines. The report also provides market estimates and projections in terms of revenue generated from sale of products through vending machines for product segments - Beverage, Food, Cigarette, and Others.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Vending_Machines_Market_Report.asp
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 1500+ 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.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 (408) 528-9966, [email protected]
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