New York, NY -- (SBWIRE) -- 12/06/2017 -- Global Intelligent Vending Machines Market: Overview
Intelligent vending machines refer to the new type of vending machines that dispense food and drinks. These machines have large LCD screens on the front doors that are used for interaction with consumers. It also features different advancements for payment options. The new technologies that are offered with smart vending machines are Near Field Communication, Telemetry Systems, Voice Recognition, Digital Signage, ERP etc. Its smart payment options include payment through E-Wallets, Credit Cards, Debit Cards, NFC and others, which reduce consumers' efforts to carry money.
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A new research report is published by Persistence Market Research titled 'Intelligent Vending Machines Market: Global Industry Analysis 2012–2016 and Forecast 2017–2025'. The report gives a clear overview of the global intelligent vending machines market along with price analysis, Y-o-Y growth, trends that are governing the market, drivers that are driving the market growth and also restraints that are limiting the market growth. According to the forecast by PMR, the global intelligent vending machines market is expected to project a market value of over US$ 5,000 Mn in 2017 reaching a value of over US$ 15 Bn in 2025. It is anticipated to grow at a CAGR of 15.3% during the forecast period.
Global Intelligent Vending Machines Market: Segmental Highlights
The research report by PMR segments the global intelligent vending machines market into various segments based on different parameters.
On the basis of product type, hot drinks is expected to be the most lucrative segment of the market, as the demand for hot tea and coffee machines at corporate offices is increasing. It is expected to project a market value of over US$ 1,480 Mn in 2017. The market of soft drinks is also expected to register a CAGR of 16.3% during the forecast period.
On the basis of end use, the market is dominated by the corporate commercial areas segment with a market value of around US$ 1,340 Mn in 2017 and is anticipated to grow at a CAGR of 17.8%. It is followed by the mall and retail stores segment, which is anticipated to show growth at a steady CAGR of 15.8%.
On the basis of region, North America is the most attractive region that is estimated to hold the maximum market value of over US$ 1,600 Mn in 2017, expected to reach a market value of over US$ 5,000 Mn in 2025, growing at a CAGR of 15.4% during the forecast period.