Connected Vending Machines Report 2023-2027: Cashless Payments is a Strong Driver for Adding Connectivity in Vending

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Jan 04, 2024, 10:45 ET

DUBLIN, Jan. 4, 2024 /PRNewswire/ -- The "Connected Vending Machines - 5th Edition" report has been added to ResearchAndMarkets.com's offering.

Connected Vending Machines is the fifth consecutive report analysing the latest developments on the vending telemetry and cashless payment market worldwide.

There are about 15 million vending machines worldwide and many of the vending operators are now considering adding connectivity. The report forecasts that the number of connected vending machines worldwide will grow at a CAGR of 16.4 percent from 5.8 million units in 2022 to reach 12.3 million units by 2027. The penetration rate will then reach 75.7 percent at the end of the forecast period.

Highlights from the report:

Detailed analysis of the vending industry
Summary of the latest industry trends and developments
Updated in-depth profiles of key players in the vending telemetry and cashless payment markets
Reviews of vendor market shares and competitive dynamics
Perspectives on the impact of mobile wallet services
Extensive global and regional market forecasts lasting until 2027

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 report estimates that around 40 percent of the world's nearly 14.5 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, particularly following the Covid-19 pandemic. 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 closed to an estimated 5.8 million units in 2022. North America is estimated to represent the largest share of these machines, closely followed by the Rest of the World markets. Both regions are estimated to have installed bases of around 2.1 million units each. The growth in the Rest of the World is primarily driven by the increasing number of connected machines in Japan, China and Australia. In Europe, the installed of connected vending machines is estimated to have reached around 1.5 million units. The report forecasts that the number of connected vending machines worldwide will grow at a compound annual growth rate (CAGR) of 16.4 percent to reach 12.3 million units by 2027. As a result, the global penetration rate will reach 75.7 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. Cantaloupe (formerly USA Technologies) is the largest provider in terms of installed base, having more than 900,000 connected vending machines. Other major suppliers include Nayax, Ingenico and Televend (INTIS). Nayax and Ingenico are two international players while Televend monitors vending machines mostly in Europe, although the latter seeks to expand into North America and Japan. Other suppliers with notable installed bases include InHand Networks, MatiPay, Vianet Group, and Vendon.

Numerous vending machine manufacturers are also active in the connected vending space. The manufacturer Crane NXT holds one of the leading positions from a global perspective through Crane Payment Innovations 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.

The 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?
When will cashless payments be commonplace in the vending industry?
How will emerging mobile wallet services affect the market?
How will the rise of micro markets affect the connected vending machine industry?
Which are the leading vending telemetry and cashless payment system vendors?

Key Topics Covered:

1 Introduction
1.1 Overview of the vending machine industry
1.2 Vending industry players

2 Vending telemetry and cashless payments
2.1 Vending telemetry and software
2.1.1 Remote monitoring of vending machines
2.1.2 Vending management systems
2.2 Payment systems
2.2.1 Coin mechanisms and bill validators
2.2.2 Cashless payments
2.2.3 Mobile phone payments and NFC

3 Company Profiles and Strategies

Cantaloupe
CircumTec
Datavend
Enginko
Ingenico
InHand Networks
MatiPay
Mecsel
Nayax
On Track Innovations
Parlevel Systems
PayRange
S+M
SmartNow
SmVend
Silkron
Telemetron
Televend
Vendekin Technologies
VendingMetrics
Vendon
Vendwatch Telematics
Vianet Group
Automated Merchandising Systems
Azkoyen Group
Bianchi Vending
Crane NXT
Easy Touch
EVOCA Group
FAS International
Fastcorp Vending
Fuji Electric
Jofemar
Kimma
Magex
Micron Smart Vending
Rheavendors Group
Royal Vendors
SandenVendo
Seaga
Sielaff
TCN Group
Unicum
Westomatic
Wittern Group
XY Vending
Aramark
Asahi Group
Canteen
Chi Forest
Coca-Cola Europacific Partners
Coca-Cola Bottlers Japan
DyDo Group
Fenge Shishi
IVS Group
Nongfu Spring
Selecta
Sodexo
Suntory Group
UBox
Want Want Group

4 Forecasts and Conclusions
4.1 Major connected vending technology suppliers
4.2 Market forecasts
4.3 Market trends and drivers
4.3.1 The business case for vending telemetry continues to improve
4.3.2 Cashless payments is a strong driver for adding connectivity in vending
4.3.3 Mobile wallet services enable attractive opportunities
4.3.4 Roll-out of micro markets cannibalises on the vending machine park
4.3.5 Grab-and-Go machines provide new opportunities in the vending landscape
4.3.6 M&As drive consolidation in the connected vending technology landscape
4.3.7 Vending operators invest in business intelligence to stay relevant
4.3.8 China to become a major driving force in the connected vending space

For more information about this report visit https://www.researchandmarkets.com/r/g7u1c3

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