Amidst technological revolutions in vending machines in Australia and over the world, global technology leader Intel Corporation has prepared and published a report on vending machine’s global growth and trends. From the report, we clearly can conclude that Vending Machine Business is going to be first choice for potential entrepreneurs!
Below is the report summary of Intel on the Intelligent Vending Machine growth and trends across the globe including Australia, Asia-Pacific and USA.
Below is the summary of the original report from Intell on growth of Intelligent Vending Machines:
In the report, Intel predicts Intelligent Vending Machine shipments will see a robust growth at a 49% CAGR – Compound Annual Growth Rate across the globe.
Further more, experts also predict that these growth will be driven by the surging needs for LCD/touch-screen displays, cashless payment, telemetry, voice recognition, digital signage and ERP Integration.
What’s in the report
According to Intel, over the past 18 months, there has been a surge in interest by the vending machine industry to adopt new technologies. With over 18 million vending machines installed worldwide, what changes are in store for the vending machines market over the next five years?
To understand this better, Intel asked Frost & Sullivan to research the future requirements and trends, and they found the vending market is undergoing significant change that will transform the industry.
To address changing market dynamics, up-sell opportunities and increasing government regulation, vending machine manufacturers are turning to computing technology, which is revolutionizing the industry. They are integrating a range of technologies, foremost LCD/touch-screen displays, cashless payment and telemetry.
“The vending machine has become a symbol of the world’s quest for convenience, operating 24 hours around the clock, 7 days a week.” – Frost & Sullivan
Key Intelligent Vending Machines Market Trends
- Global shipments of intelligent vending machines are forecasted to grow at a 49% CAGR from 2010 to 2016, reaching around 2 million units with both the new and retrofit markets combined.
- Top food and beverage companies are taking the lead, currently testing advanced technologies, such as mobile payments, card readers, digital signage and user interactivity.
- Increased regulation is a key driver, including government mandated nutrition labeling (North America) and improved energy efficiency (APAC), which is being addressed by the adoption of LCD displays and telemetry, respectively.
- Cashless payment via mobile phones with near-field communication is expected to increase sales per transaction, especially for high-end products, like smartphones and portable media players.
- To be viable in the marketplace, vending operators need to increase efficiencies by implementing better route management and operational procedures, using human resources more cost-effectively, and improving machine maintenance procedures.
We will publish more facts and figures about the trend in our next article, stay in touch!