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. Download a Free Sample Report on COVID-19
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Technavio has announced its latest market research report titled Global Vending Machine Market 2020-2024 (Graphic: Business Wire)
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, 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. COVID-19 will have a Negative and Inferior impact on the vending machine market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions-
- 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 based on the product in the global market during the forecast period.
- What are the major trends in the market?
- Growing demand for retrofitting of vending machines is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 11%, the incremental growth of the market is anticipated to be USD 9.82 billion.
- 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?
- Focus on improving customer shopping experience is one of the major factors driving the market. However, the lack of knowledge about vending machine operation among customers restraints the market growth.
- How big is the North America market?
- The North America region will contribute 37% of market growth.
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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. The focus on improving customer shopping experience will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this vending machine market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
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
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43707
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 retrofitting of vending machines 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
- Market challenges
- Market trends
- 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
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