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The industrial vending machine (IVM) market size is estimated to increase by USD 718.8 million and grow at a CAGR of 10.26% between 2022 and 2027. The growth of the market depends on several factors such as the increasing manufacturing of FMCG, the increasing demand for vending machines from the healthcare industry and new product launches by vendors of industrial vending machines. Substantial market growth is underway, propelled by technological progress and the demand for streamlined inventory control across diverse sectors including oil and gas, manufacturing, and aviation. These products, incorporating advanced security measures and state-of-the-art features such as RFID tags and multi-language displays, prioritize employee safety and streamline the distribution of vital equipment like personal protective gear (PPE). Additionally, the incorporation of cloud-based systems and inventive software solutions like SaveLog facilitates instantaneous restocking and boosts clarity and responsibility within inventory oversight.
Market Forecast 2023-2027
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This report extensively covers market segmentation by product (coil vending machines, carousel vending machines, vertical lift machines, scale vending machines, and others), end-user (manufacturing, oil and gas, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
The market share growth by the coil vending machines segment will be significant during the forecast period. Instead of the traditional chain-based approach, a coil variant is operated using a cylindrical rod (coil) wrapped around a cylinder with a series of evenly spaced holes. To keep track of belongings in industries, coil variants function as high-density storage units and inventory management systems.
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The coil segment was the largest segment and was valued at USD 302.76 million in 2017. Furthermore, coil variants offer the benefits of cost-effectiveness and more compact size compared to standard variants. These machines are also recognized for their capacity to automatically adjust and adapt. This feature enables businesses to track product consumption, identify users, and regulate access, thus mitigating potential losses or theft. Additionally, coil variants offer enclosed storage, minimizing the risk of items falling on employees, and presenting products in a convenient and ergonomically designed workspace. The utilization of these advantageous features within coil variants is anticipated to propel the growth of this segment and consequently contribute to the expansion of the targeted market during the forecast period.
Based on end-user, the market has been segmented into manufacturing, oil and gas, and others. The manufacturing segment will account for the largest share of this segment.? Within the manufacturing sector, they serve as a streamlined method for managing point-of-use inventory of industrial supplies. The surging acceptance within the manufacturing realm stands as a significant catalyst propelling the expansion of the market. Notably, the installation across manufacturing facilities in diverse countries like the US and the UK is on the rise. Moreover, the advent of advanced and intelligent variants is reshaping the vending landscape within the manufacturing industry, further bolstering the appeal of such solutions. Therefore, these dynamics are poised to propel the growth of the global market during the forecast period.
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North America is estimated to contribute 38% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The market derives significant revenue contributions from the US and Canada. This can be attributed to the strong appeal, the concentrated presence of manufacturers and retailers, the tech-savviness of informed buyers, and the practicality in this region.
Notably, the adoption of intelligent variants is extending to novel end-user sectors like manufacturing and healthcare, with a ripple effect across other industries such as oil and gas. This demand across diverse sectors is poised to foster the growth of the market. Furthermore, the need to upgrade basic or initial-generation industrial vending terminals is another pivotal factor projected to underpin the expansion of the market in North America during the forecast period.
The Market is experiencing significant growth, fueled by technological advancements and the increasing demand for efficient inventory management solutions across various industries. These, equipped with high-security features and cutting-edge technologies like RFID tags and multilingual display systems, ensure employee safety and facilitate the distribution of personal protective equipment (PPE) in sectors such as oil and gas, manufacturing, and aviation. Companies like IVM offer innovative vending solutions, including cloud-based infrastructure and SaveLog software, enabling real-time stock replenishment and enhancing transparency and accountability in inventory management processes. Moreover, the deployment of automated recycling machines and reverse variants in public locations like malls, airports, and metro stations incentivizes customers to recycle empty containers by offering rewards such as cash or refunds, contributing to environmental sustainability initiatives. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The Market is witnessing significant growth, driven by technological advancements and the need for efficient inventory management across various industries such as oil and gas, manufacturing, and aviation. These variants, equipped with high-security features and cutting-edge technologies like RFID tags and multilingual display systems, ensure employee safety and facilitate the dispensing of personal protective equipment (PPE) and other essential items. Moreover, the integration of cloud infrastructure and innovative software solutions like SaveLog enables real-time stock replenishment and enhances transparency and accountability in inventory management.
Furthermore, automated recycling machines and reverse variants cater to evolving customer needs by offering rewards for returning empty food and drink containers. With installations in strategic locations like malls, airports, and metro stations, these machines not only incentivize recycling but also contribute to reducing downtime costs and optimizing inventory replenishments. As the FMCG sector expands and consumer preferences evolve towards organic and plant-based products, the demand for efficient vending and inventory management solutions is expected to soar, driving the growth of the global Market.
The operational capabilities of smart industrial variants are founded on a combination of hardware, software, microprocessors, and controllers employed in their design. These intelligent variants offer a spectrum of advanced functionalities, including operations and inventory management, customer analytics, software and platform oversight, as well as digital advertising and content management systems. Tailored software analytics and cloud-based servers are harnessed to efficiently handle vast real-time data streams from these machines.
Moreover, a prevailing trend in the market is the escalation of real-time data acquisition through intelligent machines. Therefore, the incorporation of cutting-edge features like real-time data collection is poised to enhance the value and sales volume of these machines. These technological advancements are anticipated to drive a surge in demand, thereby fueling the growth trajectory of the market during the forecast period.
End-users face significant capital expenditures when acquiring both the hardware and software components for intelligent variants. While customization options are available to tailor these elements to their specific requirements, this customization can alternatively be sourced from third-party providers, leading to notable supplementary expenses. To remain competitive in the market, vendors must introduce pioneering products, necessitating substantial investments in research and development. Manufacturing costs for vending machines are substantial, and annual rental fees are also on the rise.
Furthermore, the dynamic landscape of evolving technology and shifting preferences necessitates ongoing software upgrades and related services, entailing considerable costs. In addition, the process of upgrading and resolving issues can extend over multiple days, resulting in potential revenue losses that may have a negative impact on the market. Hence, the elevated maintenance expenses incurred pose a significant challenge for the market of focus during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Air Liquide SA - The company offers industrial vending machines through its subsidiary Airgas such as Four Airgas vending machines Lockers, Coil, Scale-based Tech and On-site Dispensing.
We also have detailed analyses of the market’s competitive landscape and offer information on 12 market companies, including:
Air Liquide SA, Fastenal Co., IMC International Metalworking Companies B.V., IVM Inc., SecuraStock, Snap On Inc., Stanley Black and Decker Inc., SupplyPro Inc., and TouchPoint Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is experiencing significant growth driven by various factors such as the increasing adoption of cutting-edge technologies, including artificial intelligence, machine learning, and IoT integration. These vending machines offer high-security solutions for dispensing personal protective equipment (PPE) and MRO supplies, ensuring employee safety in various industries like oil and gas, aviation, and small and medium-sized manufacturing units. The use of RFID tags and multilingual display systems enhances transparency and accountability in stock replenishment processes, reducing downtime costs and improving inventory management. Additionally, the integration of cloud infrastructure and SaveLog software enables real-time data collection and analysis, allowing businesses to optimize inventory levels and meet customer buying patterns efficiently. With a focus on sustainability, automated recycling machines and reverse vending machines promote environmental responsibility by incentivizing waste collection and recycling efforts, contributing to waste management and compliance with environmental laws.
Moreover, the Market is witnessing significant growth driven by the increasing demand for efficient inventory management solutions across various industries such as oil and gas, aviation, and manufacturing. These vending machines, provided by companies like IVM, offer high-security features to safeguard valuable inventory items while streamlining the inventory replenishment process and minimizing walk-around time. With the rising urban population and expansion of cities, the need for effective garbage management solutions is also driving the adoption of industrial vending machines in locations such as airports, train stations, and municipalities. Additionally, the market benefits from the adoption of energy-efficient vending machines, which not only reduce operational costs but also align with environmental sustainability goals. This growing market caters to the needs of small and medium-sized enterprises (SMEs) by offering rental revenue models and ensuring compliance with occupational safety standards.
Additionally, the Market is witnessing substantial growth driven by the increasing demand for efficient inventory management solutions across various industries. Data centers, oil and gas facilities, and aviation sectors are among the key adopters of high-security industrial vending machines offered by companies like IVM. These vending machines enable automated inventory replenishments, reducing freight and stock outage costs while ensuring low energy consumption. They cater to diverse customer needs, accepting empty food and drink containers in exchange for rewards like cash or bottle containers. Deployed in locations such as malls, airports, and municipalities, these machines facilitate expenditure on food and beverages while promoting recycling initiatives. With population expansion and the rise of small and medium-sized specialty manufacturing units, the reverse vending machine market continues to thrive, offering efficient solutions for managing municipal solid garbage and promoting worker safety in compliance with regulations.
Industrial Vending Machine Market Scope |
|
Report Coverage |
Details |
Page number |
151 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.26% |
Market growth 2023-2027 |
USD 718.8 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
9.83 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Air Liquide SA, Fastenal Co., IMC International Metalworking Companies B.V., IVM Inc., SecuraStock, Snap On Inc., Stanley Black and Decker Inc., SupplyPro Inc., and TouchPoint Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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