A new market report has been published by Transparency Market Research on the fully automatic vending machines market for the forecast period of 2019–2027.
Global Fully Automatic Vending Machines Market: Overview
- The global fully automatic vending machines market was valued at ~US$ 13 Bn in 2018, and is expected to grow at a CAGR of ~5% from 2019 to 2027. The global fully automatic vending machines market is expanding significantly, in terms of size and value, due to increase in population and popularity of fully automatic vending machines across the world.
- Asia Pacific holds a major share of the global fully automatic vending machines market, followed by Europe. Key players largely depend on good customer service, promotions, and technological advancements in order to cater to customer demand and gain a competitive advantage in the global fully automatic vending machines market.
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- Asia Pacific accounted for ~43% share of the global fully automatic vending machines market in 2018, followed by Europe and North America. The region is anticipated to maintain its dominance during the forecast period too. This is due to a rise in the population and increasing disposable income of customers, and their busy schedules in developing regions.
Fully Automatic Vending Machines Market: Driving Factors
- Unprecedented growth in world population is expected to drive the fully automatic vending machines market during the forecast period.
- The installation of vending machines at public places is boosting the global fully automatic vending machines market in Asia Pacific.
- Modern fully automatic vending machines possess various features, which make vending machines user-friendly. The expansion of the fully automatic vending machines market in emerging economies can be attributed to busy schedules, lack of time, and changing consumer preferences.
Fully Automatic Vending Machines Market: Key Challenges
- In fully automatic vending machines, besides vending machine software and hardware, network connectivity is a major component. A network issue can hamper the functioning of a fully automatic vending machine. Thus, network connectivity remains a major concern for fully automatic vending machines market players.
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Fully Automatic Vending Machines Market: Competition Landscape
- The global fully automatic vending machines market includes several players that are focused on the development of new products to cater to changing consumer preferences.
- The report includes the below-mentioned pointers of the major players operating in the global fully automatic vending machines market:
- Company Overview
- Product Profiling
- Market Share Analysis (2018)
- Product Innovation
- Business Strategies / Recent Developments
- Technological Advancements
- Key Mergers & Acquisitions
- Expansion Strategies
- Company Financial
Key players operating in the global fully automatic vending machines market are Crane Co., CribMaster, Fuji Electric Co. Ltd., Glory Ltd., Lotte Engineering & Machinery MFG. CO., Groupe SEB, IVS Group S.A., Royal Vendors Inc., SandenVendo GmbH, Zhanjiang Sapoe Electric Appliances Co. Ltd., and others.
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