Industrial Vending Machine Market to Reach US$ 40.61Bn by 2027: Industry Probe

According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Industrial Vending Machine Market (Product Type: Hot Industrial Vending Machines [Less than 100 Cups Per Day, 100 - 200 Cups Per Day, 201 - 300 Cups Per Day, More than 300 Cups Per Day] and Cold Industrial Vending Machines [Less than 150 Bottles, 151 – 200 Bottles, 201 – 300 Bottles, and More than 300 Bottles]; Function: Semi-automatic and Fully Automatic; Application: Corporate Offices, Shopping Malls, Hotels & Restaurants, Hospitals, Airports, and Others; and Distribution Channel: Online and Offline) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2027’, the Industrial Vending Machine Market was valued at US$ 12.96 Bn in 2018 and is expected to expand at a CAGR of 5.9% from 2020 to 2027.

Some of the major players operating in the Industrial Vending Machine Market includes Fuji Electric Co., Ltd, SandenVendo GmbH, Crane Co., IVS Group SA, BIANCHI INDUSTRY SPA, Royal Vendors Inc., Lotte Engineering & Machinery MFG. CO, Evoca Group, Azkoyen Group, Melitta Group, and SandenVendo GmbH.

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As per the report, technological innovations, such as face and voice recognition, interactive display system, and big data integration, making the product easier and more convenient to use will also have a positive impact on the demand. With such advancements, Industrial Vending Machines can now deliver custom-made drink items from hot and cold beverages, says the report. Asia Pacific held a prominent share of the Industrial Vending Machine Market in 2017, followed by Europe and North America. Asia Pacific is expected to be a key upcoming market for Industrial Vending Machines during the forecast period. Significant expansion of industries and commercial segments, which results in increasing retail industry in developing regions is anticipated to be a key factor driving the Industrial Vending Machine Market in this region, as per Industry Probe analysts.

Increasing number of infrastructure activities and growing awareness in healthcare, tourism, and hospitality sector are further expected to fuel the demand for Industrial Vending Machines among different end users, such as corporate offices, shopping malls, hotels & restaurants, hospitals, airports, etc. Additionally, growing consumer preference for ready-to-drink and packaged drink in offices, shopping malls, airports, educational institutions, etc., is augmenting the demand for Industrial Vending Machines in commercial spaces. Increase in commercial spaces such as corporate offices and shopping malls dominated the overall Industrial Vending Machine Market worldwide.

In terms of product type, hot Industrial Vending Machine are mostly preferred by organized retailing in malls and multiplexes, BPOs, IT and ITES sectors users due to their convenience and cost-effectiveness. As compared to cold Industrial Vending Machine segment, the hot Industrial Vending Machine segment is expected to hold a major market share and grow at the fastest rate during the forecast period. In terms of function, semi-automatic Industrial Vending Machines is are preferred over fully automatic vending machines. As compared to fully automatic vending machines, semi–automatic Industrial Vending Machines are available at lower price. In terms of distribution channel, the online is expected to be the most attractive segment during the forecast period.

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Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings.