LONDON--(BUSINESS WIRE)--Technavio has been monitoring the vending machine market and it is poised to grow by USD 9.82 billion during 2020-2024, progressing at a CAGR of over 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions-
- What was the size of the vending machine market in 2019?
- Technavio says that the value of the market was USD 13.63 billion in 2019 and is projected to reach USD 23.45 billion by 2024.
- Based on segmentation by product, which is the leading segment in the market?
- The low-end vending machines are expected to be the leading segment in the global market during the forecast period.
- What is the major trend for the market?
- Growing demand for intelligent vending machines from the retail industry.
- At what rate is the market projected to grow?
- The market is expected to grow at a CAGR of over 11% during the forecast period.
- Who are the top players in the market?
- Azkoyen SA, Compass Group Plc, Crane Co., FAS International Srl, Fuji Electric Co. Ltd., Glory Ltd., Orasesta Spa, Royal Vendors Inc., Sanden Retail System Co. Ltd., and Westomatic Vending Services Ltd. are some of the major market participants.
- What are the key market drivers and challenges?
- Rising customization in vending machines is a major factor driving the market. However, the lack of knowledge about vending machine operation among customers restraints the market growth.
- How big is the North American market?
- The market in North America was valued at USD 5.20 billion in 2019 which is anticipated to grow at USD 8.87 billion during 2024.
- Based on segmentation by product, which segment is expected to witness the fastest growth in the global market?
- Intelligent vending machines are expected to grow at a faster rate.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Azkoyen SA, Compass Group Plc, Crane Co., FAS International Srl, Fuji Electric Co. Ltd., Glory Ltd., Orasesta Spa, Royal Vendors Inc., Sanden Retail System Co. Ltd., and Westomatic Vending Services Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Rising customization in vending machines has been instrumental in driving the growth of the market.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Vending Machine Market 2020-2024: Segmentation
Vending Machine Market is segmented as below:
- Low-end Vending Machines
- Intelligent Vending Machines
- North America
- South America
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Vending Machine Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The vending machine market report covers the following areas:
- Vending Machine Market Size
- Vending Machine Market Trends
- Vending Machine Market Analysis
This study identifies the growing demand for intelligent vending machines from the retail industry as one of the prime reasons driving the vending machine market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Vending Machine Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist vending machine market growth during the next five years
- Estimation of the vending machine market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the vending machine market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of vending machine market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Low-end vending machines - Market size and forecast 2019-2024
- Intelligent vending machines - Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Volume Drivers – Demand led growth
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Azkoyen SA
- Compass Group Plc
- Crane Co.
- FAS International Srl
- Fuji Electric Co. Ltd.
- Glory Ltd.
- Orasesta Spa
- Royal Vendors Inc.
- Sanden Retail System Co. Ltd.
- Westomatic Vending Services Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.