According to the Graphical Research new growth forecast report titled “North America Intelligent Vending Machine Market Size, By Product (Beverage, Food, Tobacco), By Application (Retail Sites, Public Transport Hubs, Offices/Institutions), 2019-2025”, estimated to be around USD 14 billion by 2025.
The growing adoption of smart solutions to automate the sales process in several application areas is increasing at a rapid pace, driving the North America intelligent vending machine market. The companies are collaborating with businesses to provide their customers with a more interactive shopping experience. For instance, in January 2019, PepsiCo, Inc, announced its partnership with Robby Technologies, which provides automation solution for the retail & warehouse industry. This partnership will help the company to develop a self-driving vending machine, Snackbot, that carries a variety of food & beverages. Such factors are driving the North America intelligent vending machine market.
The demand for food-based vending machines in several application sectors, such as shopping malls, schools, and retail & public transport sites, can be witnessed in the North America intelligent vending machine market. These machines enable the food to be stored safely in a fresh environment to protect from getting contaminated by bacteria and/or microorganisms. Several major players in the North America intelligent vending machine market are installing machines that are efficient and sustainable, thereby promoting the consumption of healthy & nutritious food. For instance, Green Mustache announced its plans to implement more healthy vending machines across Canada in various places including schools and hospitals.
The application of these machines in retail sites for automating their outlets is encouraging retailers to adopt several intelligent vending platforms. The implementation of these machines helps retailers to enhance the customer experience. Moreover, these machines enable effective user experience and reduce operating costs while improving the efficiency of vending operations. Technology providers are offering several solutions such as IoT connectivity, remote manageability, and cashless payments. These players are partnering with equipment manufacturers for developing such smart solutions. The players are incorporating connected solutions to machines that help in gaining customers and transactional real-time data.
The key players operating in the North America intelligent vending machine market are Azkoyen Group, Compass Group, Aramark Corporation, Hitachi, Ltd., Glory, Ltd., and IBM Corporation. These players are developing several solutions and targeting their offerings in retail outlets where the demand for these machines is high owing to the need for improving customer experience and associated sales. They are adopting several strategies to capture the demand & requirement of customers such as product differentiation, mergers, acquisitions, collaborations, and new product development.
Segments we cover:
North America Intelligent Vending Machine Market, By Product
North America Intelligent Vending Machine Market, By Application
- Retail sites
- Public transport hubs