New York, NY -- (ReleaseWire) -- 05/18/2016 --The global vending machine market is expected to attain a market value of USD 4,522.7 million by 2022, at a CAGR of 14.8% during the forecast period (2016-2022). Beverage, Snacks, Candy, Cigarette, banking and finance and specialized vending machines are the different types of vending machines available in the market. In 2014, beverage vending machines dominated the global vending machine market. Specialized vending machine on the other hand is expected to register fastest CAGR of 18.3% during the forecast period (2016-2022). According to Intel, demand for technologically advanced or intelligent vending machine has grown significantly in the past few years.
Transition of ordinary devices into fully automatic devices has transformed the way customer look towards the service offered by the service providers. Hence, automated devices have gained momentum in the past few years. Increasing disposable income and ease of accessing the machines have led to the growth of vending machine installations across the globe. Vending machines are now using cameras and bar code readers in order to authenticate the barcodes. In addition, biometric authentication mechanism, which is being embedded in vending machines, has increased the security levels, leading the customers to make cashless payments in a more secure manner. Cashless transaction via smartphones with features such as near-field communication is expected to increase the overall sales of high-end products. This would require new technologies for safe and secure transaction, which would present growth opportunity for the global vending machine market in years to come.
Based on solution type, the market is segmented into deployment and managed services. In 2014, deployment segment dominated the global vending machine solution segment market. The managed services would witness the significant CAGR of 20.8% during the forecast period (2016-2022).
Further, for better analysis and understanding the market penetration of vending machine market, the market is bifurcated into different geographies and countries including North America (U.S., Canada, Mexico and Others), Europe (Germany, U.K., France, Russia, Spain, Italy and Others), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Others) and LAMEA (UAE, Saudi Arabia, Brazil, Argentina, South Africa, Nigeria and Others). In 2014, North America dominated the global vending machine market, with approximately 44% share in terms of revenue. Factors such as technological advancements and emergence of new business models are contributing to the rapid growth of vending machine market in the region.
Some of the major companies profiled in the global vending machine market are Azkoyen Group, Compass Group, Plc., Aramark Corporation, Bianchi Vending Group S.p.A., Honeywell International, Inc., Fujitsu Limited, Hitachi, Ltd. and IBM Corporation.
Global Vending Machine Market Segmentation
oBeverage Vending Machine
oCandy Vending Machine
oSnacks Vending Machine
oGumball Vending Machine
oCigarette Vending Machine
oSpecialized Vending Machine
By Solution Type
oNorth America Vending Machine Market
oU.S. Vending Machine Market
oCanada Vending Machine Market
oMexico Vending Machine Market
oRest of North America Vending Machine Market
oEurope Vending Machine Market
oGermany Vending Machine Market
oSpain Vending Machine Market
oFrance Vending Machine Market
oU.K. Vending Machine Market
oRussia Vending Machine Market
oItaly Vending Machine Market
oRest of Europe Vending Machine Market
oAsia-Pacific Vending Machine Market
oChina Vending Machine Market
oJapan Vending Machine Market
oIndia Vending Machine Market
oSouth Korea Vending Machine Market
oSingapore Vending Machine Market
oMalaysia Vending Machine Market
oRest of Asia-Pacific Vending Machine Market
oLAMEA Vending Machine Market
oBrazil Vending Machine Market
oArgentina Vending Machine Market
oUAE Vending Machine Market
oSaudi Arabia Vending Machine Market
oSouth Africa Vending Machine Market
oNigeria Vending Machine Market
oRest of LAMEA Vending Machine Market
oCompass Group, Plc.
oBianchi Vending Group S.p.A.
oHoneywell International, Inc.
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