The global automatic goods-vending machines market is estimated to grow at remarkable CAGR over the forecast period (2017 to 2022), according to a report available on Radiant Insights, Inc. Growing need for advanced and convenient ways among consumers to purchase regular goods is anticipated to propel demand for automatic goods-vending machines. These machines can dispense goods automatically for consumers including cigarettes, snacks, beverages, and lottery tickets. In addition, these machines are expected to be equipped with various advanced technologies including cashless payments, interactive displays, and telemetry systems.
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Growing adoption of cashless payments among consumers while purchasing goods can fuel growth of market. Emerging technologies including mobile payments and near field communication (NFC) are expected to promote cashless payments. Increasing use of innovative technologies including voice and face recognition in vending machines can gain traction among consumers. Such advanced technologies can allow vending machines to recommend products to consumers based on their age and gender. This, in turn can augment market growth in coming years. Continual technological advancements by manufacturing companies can foster market growth during the forecast period (2011 to 2022).
However, high initial installation cost of automatic goods-vending machines can restrict growth of market. In addition, problems related to proper location for installation of vending machines and security concerns can also obstruct market growth in coming years.
To cater to rising demand for automatic vending machines, most companies are likely to invest in R&D activities to develop advanced products. For instance, Amazon recently installed its first cashier-less grocery store called Amazon Go store in United States. The store is expected to use cameras and sensors to keep track of consumers and their buying preferences. Consumers can use Amazon Go application to enter the store, grab what they want, and leave. Goods purchased by consumers can get charged to their respective Amazon account automatically, once they exit the store.
The automatic goods-vending machine market can be segregated on the basis of product and region. Based on product, the market can categorized into automatic beverage-vending machines (with refrigerating & heating devices), other automatic goods-vending machines (with refrigerating & heating devices), other automatic goods-vending machines, other automatic beverage-vending machines, and parts for automatic goods-vending machines.
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Regional segmentation of automatic goods-vending machines market includes United States, Canada, Germany, Italy, Netherlands, France, Spain, United Kingdom, China, and Japan. In United States, the market is predicted to grow fast over the forecast period owing to rising adoption of vending machines among consumers. In addition, increasing numbers of companies installing advanced vending machines in various parts of the region can also influence growth of market.
In Japan, the market is expected to grow fast owing to high dependency of consumers on automatic goods vending machines. In addition, factors including less vandalism and busy lifestyle can further augment growth of market in the region.
In China, the automatic goods-vending machines market is anticipated to witness substantial growth attributed to rising adoption of vending machines among consumers for convenience. In addition, continual technological advancements in automatic goods vending machines can also fuel growth of market in the region. Moreover, rising number of manufacturing companies offering advanced vending machines can further stimulate market growth in the region in coming years.
In Germany, the automatic goods-vending machines market is estimated to grow well over the forecast period owing to high number of consumers using vending machines every day. Continual R&D activities by local manufacturing companies to produce innovative products can also augment growth of market in the region.
Some of the leading companies offering automatic goods-vending machines are American Vending Machines, Fuji Electric, Crane, Bulk Vending Systems, and Continental Vending.
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