The amount of untreated waste has increased at an alarming rate creating significant demand for various recycling solutions such as reverse vending machines. Reverse vending machines (RVMs) are employed to dispose and recover recycled products more effectively are used for cost effective waste disposal and recycling. These machines have automated systems used to collect and sort used containers and dispense cash incentive in return based on the quantity. RVMs help encourage recycling, reduce landfills, lower greenhouse emissions, and avoid the use of virgin materials for new products. These machines have various advanced features such as huge storage capacity, UPC scanner, and horizontal in-feed system.
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Increasing amount of waste has created critical issues regarding their disposal due to limited number of landfills, therefore it is pivotal to adopt recycling to manage waste effectively. The current manual recycling method is discouraging as users are required to collect the waste in bulk. Therefore, the reverse vending machine is used in varied applications which provides refund to customer by identifying the amount for each container. The revenue growth of the global reverse vending market is driven by new installations and servicing of older machines. The government has passed new regulations to promote the reuse, reduce, and recycle waste. This is anticipated to propel the demand for reverse vending machine demand during the forecast period.
The reverse vending machine market can be categorized as a broader industry for waste sorting, gathering, and recycling. The service amount depends upon the machine’s volume and age, wherein higher volume machines require longer servicing cycles. Technological advancements in reverse vending machines such as video recognition systems, touch panels, and smart card vouchers is expected to enhance the user experience. This, in turn, is anticipated to propel the market.
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The reverse vending machine market can be segmented based on product type, machine use, capacity, end-use, and regions. In terms of product type, the market can be divided into metal recycling, plastic bottle recycling, and multifunction recycling. Based on machine use, the reverse vending machine market can be classified into commercial, industrial, and residential. In terms of capacity, the market can be categorized into less than 200 (cans or bottles), 200 – 300 (cans or bottles), 300 – 600 (cans or bottles), and more than 600 (cans or bottles). Based on end-use, the market can be segmented into distributors, retailers, municipalities, and beverage industries.
In terms of geography, the reverse vending machine market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the market as the region has stable demand for reverse vending machine from government, retailer, and beverage industries. The market in Asia Pacific is expected to expand at a significant CAGR from 2017 to 2025 due to the expansion of the food service industry.
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The prominent vendors of the reverse vending machine market include Wincor Nixdorf, Holdings N.V, Repant ASA, Tomra Systems ASA, Envipco Holdings N.V., Aco Recycling, N&W Global Vending Group, and Spengler GMBH & Co KG. The RVM companies operate with two business models. The first business model is the sales model, which consists of machines that are being sold to retail stores. The second business model is the leasing model, in which the reverse vending machines maintains the ownership of the installed RVM and receives payments based on the numbers of containers handled by the machine. The RVM industry is consolidated with top three to four companies accounting for a major share of the market.
The industry vendors are strategically focusing on increasing their global footprint by adding different technologies to the RVMs. For instance, in February 2017, Tomra has introduced smart reverse vending machines which is equipped with Internet of Things (IoT) for providing different benefits to the customers which include points program, notifications, and marketing and donation benefits.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
