TechNavio recognizes the following companies as the key players in Global Vending Machine Market: Coin Acceptors Inc., Crane Co., Cubic Corp., Fuji Electric Co. Ltd., and MEI Inc.
Commenting on the report, an analyst from TechNavio’s team said: “One of the recent trends emerging in the market is the retrofitting of existing vending machines. An intelligent vending machine has a number of advantages over a normal vending machine. However, these advantages come at an additional cost, which many operators may not be willing to bear given the fluctuating economic conditions. Hence, one of the more feasible options for these operators is to retrofit existing vending machines with some of the latest technologies. There are already instances of existing vending machines in Europe that have been retrofitted with LCD screens and contactless card payment facilities. Many operators would prefer to utilize the full life of their existing vending machines before investing in new, more expensive intelligent vending machines.”
According to the report, one of the main drivers in this market is the increased need to expand the virtual store space. With the high rentals of brick and mortar retail stores, there is increased need to expand the virtual space of major retail outlets.
Further, the report states that one of the major challenges in this market is the high cost of rental space. In most parts of the world, particularly Europe, the cost of rental space for intelligent vending machines has increased by 15-20 percent over the past few years.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-vending-machine-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report – Global Vending Machine Market 2014-2018
