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Connected Vending Machines – 4th Edition

Connected Vending Machines – 4th Edition

  • March 2020
  • 100 pages
  • ID: 4542246
  • Format: PDF
  • Berg Insight AB

Summary

Table of Contents

The first solutions for including connectivity in vending machines became commercially available more than two decades ago. It has however taken years for the technology to gain the interest of mainstream vending operators. The analyst estimates that around 28 percent of the world’s 15 million vending machines are connected. The market has gained momentum in recent years, where the demand for cashless payments has so far been a main driver. Vending telemetry is however anticipated to have a more transformational effect on the industry as these solutions enable operators to improve their operational efficiency. 


The global installed base of connected vending machines reached an estimated 4.2 million units in 2019. North America is estimated to represent the largest share of around 2.0 million of these machines, whereas the corresponding number for Europe as well as the Rest of the World is 1.1 million each. Outside North America and Europe, connected vending machines can mainly be found in Japan, China and Australia. The analyst forecasts that the number of connected vending machines worldwide will grow at a compound annual growth rate (CAGR) of 16.3 percent to reach 8.9 million units by 2024. As a result, the global penetration rate will reach 52.0 percent at the end of the forecast period. 

The global market for connected vending solutions is served by a variety of players. Many of the leading providers are specialised technology companies. USA Technologies is the largest provider in terms of installed base, having more than 1.0 million connected vending machines. Other major suppliers include Ingenico Group, Nayax and Televend (INTIS). Ingenico and Nayax are two international players while Televend monitors vending machines mostly in Europe. Other suppliers with notable installed bases include Vendon, Vianet Group, MatiPay (Sitael) and InHand Networks. Numerous vending machine manufacturers are also active in the connected vending space. The manufacturer Crane holds one of the leading positions from a global perspective through Crane Connectivity Solutions and TCN Group is an important player in China. Vending operators active in the field of connected vending machines most often work with third-party providers, while some even have various in-house solutions. Examples of such vending operators include Chinese UBox and Italian IVS Group

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