Connected Vending Machines is the second consecutive report from Berg Insight analysing the latest developments on the vending telemetry and cashless payment market worldwide. This strategic research report from Berg Insight provides you with 70 pages of unique business intelligence including 5-year industry forecasts and expert commentary on which to base your business decisions.
Highlights from the second edition of 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 2020.
This research 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?
Which are the leading vending telemetry and cashless payment system vendors?
When will cashless payments be commonplace in the vending industry?
How will emerging mobile wallet services affect the market?
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. Today, global penetration is still relatively
modest and Berg Insight estimates that only around 10 percent of the world’s 17 million
vending machines are connected. The market has however gained momentum in recent
years as more and more vending operators have started to deploy cashless payment
systems and vending telemetry solutions at a larger scale. Demand for cashless payments
has so far been a main driver for connectivity in vending machines. Vending telemetry is
however anticipated to have a more transformational effect on the industry as these solutions
enable vending operators to substantially improve their operational efficiency.
The global installed base of connected vending machines reached an estimated 1.51 million
units in 2015. North America is estimated to represent the largest share of around 0.80 million
of these machines, whereas the corresponding number for the European market is 0.20
million. The number of connected vending machines in other parts of the world totalled an
estimated 0.51 million units at the end of 2015, mainly in Japan and Australia. Berg Insight
forecasts that the number of connected machines worldwide will grow at a compound annual
growth rate (CAGR) of 18.7 percent to reach 3.6 million units by 2020. As a result, the global
penetration rate will reach 20.3 percent at the end of the forecast period.
The global market for connected vending solutions is highly fragmented. Many of the leading
providers are small- and mid-sized specialised technology companies such as USA
Technologies, Cantaloupe Systems and Nayax. Numerous vending machine manufacturers
are also active in the connected vending space, either directly by developing proprietary
solutions in-house, or by partnering with established vending telemetry and cashless
payment solution providers. The manufacturer Crane even holds a leading position from a
global perspective with more than 300,000 connected vending machines. Also a number of
vending operators have entered the field of connected vending machines, most often through
partnerships with third-party technology providers.