Smart vending machines are internet-connected devices that vends like other machine with an additional feature of sending and receiving data to help it run with more efficiency and improved vending business. Smart vending machines let users make custom requests and get quality products on-demand, whether it's frozen yogurt, skin care products, soda or others. Smart also means interacting with smartphone and logging preferences or carrying out unique orders tailored to the customer needs. These machines incorporate machine learning and algorithms to better serve their users. Technological developments, exponential rise in internet penetration and shifting focus from product centric approach to customer centric approach is expected to be the key growth driver for smart vending machine market during the period of the study. The global market for smart vending machine market is estimated to be $XX billion in 2016 and is projected to grow at a CAGR of XX% during the forecast period to reach $XX billion by 2022.
Smart Vending Machine market has been extensively studied based on several differentiating parameters to provide a comprehensive overview. The market has been segmented based on following parameters: type, end-user industry and geography. Each of the categories has been further segregated into specific sub-divisions to consider the dynamics associated with this industry. Based on type, Food and Beverage smart vending machines remained pre-dominant choice in 2016. The end user industries considered in the report includes retail, entertainment & hospitality, medical, transportation and others. A similar strategy was followed to investigate the industry dynamics for smart vending machine market specific to eminent countries that constituted the overall regional market including Asia-Pacific (APAC), Europe, Americas and Rest of the World (RoW).
The key driving factor of the market is growing production of packaged products in food, beverages, pharmaceutical & other industries coupled with growing focus on consumer focused marketing. This section of smart vending machine market has impacted the global players considerably in recent years.
Sample Companies profiled in this report are:
- Intel Corporation (U.S.),
- The Coca-Cola Company (U.S.),
- Viatouch Interactive Media (U.S.),