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Connected Vending Machines

  • February 2015
  • 55 pages
  • Berg Insight AB
Report ID: 2720696

Summary

Table of Contents

Executive summary

The first solutions for including connectivity in vending machines became commercially available already two decades ago. It has still taken years for the technology to gain the interest of mainstream vending operators. Today, global penetration is still modest and less than 7 percent of the world’s 17 million vending machines are online today. The market has nevertheless gained momentum in recent years as more and more vending operators have started to deploy cashless payment systems and vending telemetry solutions at a larger scale. Demand for cashless payments is currently the main market driver.

However, vending telemetry is forecasted to have a more transformational effect on the industry in the future as these solutions enable vending operators to substantially improve their operational efficiency. The global installed base of connected vending machines grew by 18.4 percent to 1.16 million units in 2014. Around 0.56 million of these machines can be found in North America, whereas 0.15 million have been installed in Europe. The number of connected vending machines in other parts of the world totalled 0.45 million units at the end of the year, of which the vast majority were in Japan and Australia. Berg Insight forecasts that the number of connected vending machines worldwide will grow at a CAGR of 18.5 percent to reach 2.7 million units by 2019. The penetration rate will then reach 15.3 percent at the end of the forecast period.

The global market for vending technology solutions is highly fragmented. Most of the companies that provide vending telemetry and cashless payment solutions are relatively small companies that specialize in these products. Examples include Cantaloupe Systems, USA Technologies, Vianet, Vendon and BiTX. In addition to this, several participants are large companies from adjacent markets such as the POS Terminal vendor Ingenico, the telecom operator Deutsche Telekom and the IT service company Materna. Furthermore, there are several incumbents that develop proprietary solutions in-house, such as Jofemar, Rheavendors, Crane and Coca-Cola Amatil.

This research report answers the following questions:

- How many of the world’s vending machines are online today?
- What is the potential market size for vending telemetry solutions?
- Which trends and developments are shaping the market?
- Who are the leading vending telemetry and cashless payment system vendors?
- When will cashless payments be commonplace in the vending industry?
- How will emerging mobile wallet services affect the market?

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