Africa Smart Vending Machine Market - By Type (Retail Vending Machine, Self Service, Others); By End Use Industry (Retail Industry, Entertainment and Hospitality, Medical, Transportation/Public Transport, Others); By Technology (Cashless Systems, Telemetr
Description
Africa Smart Vending Machine Market - By Type (Retail Vending Machine, Self Service, Others); By End Use Industry (Retail Industry, Entertainment and Hospitality, Medical, Transportation/Public Transport, Others); By Technology (Cashless Systems, Telemetry Systems, Voice Recognition), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Africa Smart Vending Machine Market Size to Expand at Significant CAGR of 13.6% During 2023–2029
Africa smart vending machine market size is flourishing owing to increasing adoption of Internet of Things (IoT) and connected device technologies, an increase in the number of government initiatives to support digitalization, as well as increased levels of investment in the development of IoT infrastructure and various technology advancements.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Africa smart vending machine market size to grow at an impressive CAGR of 13.6% during the forecast period between 2023 and 2029. Major growth factors for Africa smart vending machine market include increasing preference for cashless systems, rapid globalization alongside rising economic stability, an increase in retail outlets, rising adoption of reverse vending machines, rising demand for energy-efficient vending machines, rising profit margins, rising industrial development, and the need to complete faster and more efficient data processing are some of the major and significant factors that will accelerate the growth of cashless systems. On the other hand, an increasing number of government initiatives to encourage digitalization adoption, as well as rising investment levels for the development of internet of things infrastructure and various technological advancements, will contribute further by generating enormous opportunities that will fuel the growth of the smart vending machine market during the previously mentioned projected timeframe.
Africa Smart Vending Machine Market – Overview
When coins or tokens are inserted into a vending machine, it releases the items that are kept inside in exchange. A sophisticated vending machine known as a smart or intelligent vending machine engages customers through touch-screen controls, video, scent, audio, gesture-based interaction, and cashless payment in addition to dispensing goods. Typically, packaged food, beverages, and tobacco products are distributed by smart vending machines. The market for smart vending machines develops based on consumers' shifting preferences, inclinations, and fascination. The goal of manufacturers in the smart vending machine market is to create novel forms of machine-human interaction. This has led to the addition of new gesture-based technologies, touchscreen controls, video technologies, and cashless payment options. Smart vending machines, a growing platform for product promotion, are also focused on improving the overall dispensing experience.
Growth Drivers
New Public Transportation Options, Growing Tourism, Evolving Consumer Preferences
The evolving preferences, proclivities, and curiosity of consumers are what propel the development of the intelligent machine industry. Innovative approaches to human-machine interaction are what manufacturers of intelligent vending machines are aiming for. New gesture-based technology, touchscreen controls, video technologies, and a cashless payment system have all been made possible as a result. Smart vending machines are interested in enhancing the overall dispensing experience in addition to being an increasingly popular platform for product promotion. To improve commuters' travel experiences, smart vending machines are being installed in public transportation, including buses and trains. This is because there are more options for travel and commuter options, which helps the market for smart vending machines.
Challenge: Stringent Regulation and High Production Costs
Rising regulations governing the sale of snacks in public places, such as schools and a ban on potentially harmful confectionery items such as cigarettes and tobacco, are expected to limit the market growth. The cost of developing and deploying these devices has an impact on vendor interest.
Impact of COVID-19 on Africa smart vending machine Market
Due to the pandemic, business players must be more vigilant and forward-thinking to stay ahead of the competition. Significant changes in the supply chain for smart vending machines as a result of COVID-19, as well as changes in consumer behavior. Because the economic and social effects of COVID vary greatly between markets and countries, smart vending machine market participants are developing country-specific strategies.
Africa smart vending machine Market – By Technology
The Africa smart vending machine market is segmented by technology into Cashless Systems, Telemetry Systems, and Voice Recognition. The push for cashless payments significantly increases the use of intelligent vending machines. IoT network advancements have benefited the retail industry, opening up new opportunities for players in the intelligent vending machine market. The remote management of intelligent vending machines is a key proposition for retailers across the country.
Competitive Landscape
Major companies in Africa smart vending machine market include ECOM Agro-industrial Corporation Ltd, Automated Merchandising Systems, Fuji Oil Company, Ltd., Barry Callebaut AG, Olam International, and Cargill. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Africa smart vending machine market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Africa Smart Vending Machine Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Africa Smart Vending Machine Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Africa Smart Vending Machine Market Size to Expand at Significant CAGR of 13.6% During 2023–2029
Africa smart vending machine market size is flourishing owing to increasing adoption of Internet of Things (IoT) and connected device technologies, an increase in the number of government initiatives to support digitalization, as well as increased levels of investment in the development of IoT infrastructure and various technology advancements.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Africa smart vending machine market size to grow at an impressive CAGR of 13.6% during the forecast period between 2023 and 2029. Major growth factors for Africa smart vending machine market include increasing preference for cashless systems, rapid globalization alongside rising economic stability, an increase in retail outlets, rising adoption of reverse vending machines, rising demand for energy-efficient vending machines, rising profit margins, rising industrial development, and the need to complete faster and more efficient data processing are some of the major and significant factors that will accelerate the growth of cashless systems. On the other hand, an increasing number of government initiatives to encourage digitalization adoption, as well as rising investment levels for the development of internet of things infrastructure and various technological advancements, will contribute further by generating enormous opportunities that will fuel the growth of the smart vending machine market during the previously mentioned projected timeframe.
Africa Smart Vending Machine Market – Overview
When coins or tokens are inserted into a vending machine, it releases the items that are kept inside in exchange. A sophisticated vending machine known as a smart or intelligent vending machine engages customers through touch-screen controls, video, scent, audio, gesture-based interaction, and cashless payment in addition to dispensing goods. Typically, packaged food, beverages, and tobacco products are distributed by smart vending machines. The market for smart vending machines develops based on consumers' shifting preferences, inclinations, and fascination. The goal of manufacturers in the smart vending machine market is to create novel forms of machine-human interaction. This has led to the addition of new gesture-based technologies, touchscreen controls, video technologies, and cashless payment options. Smart vending machines, a growing platform for product promotion, are also focused on improving the overall dispensing experience.
Growth Drivers
New Public Transportation Options, Growing Tourism, Evolving Consumer Preferences
The evolving preferences, proclivities, and curiosity of consumers are what propel the development of the intelligent machine industry. Innovative approaches to human-machine interaction are what manufacturers of intelligent vending machines are aiming for. New gesture-based technology, touchscreen controls, video technologies, and a cashless payment system have all been made possible as a result. Smart vending machines are interested in enhancing the overall dispensing experience in addition to being an increasingly popular platform for product promotion. To improve commuters' travel experiences, smart vending machines are being installed in public transportation, including buses and trains. This is because there are more options for travel and commuter options, which helps the market for smart vending machines.
Challenge: Stringent Regulation and High Production Costs
Rising regulations governing the sale of snacks in public places, such as schools and a ban on potentially harmful confectionery items such as cigarettes and tobacco, are expected to limit the market growth. The cost of developing and deploying these devices has an impact on vendor interest.
Impact of COVID-19 on Africa smart vending machine Market
Due to the pandemic, business players must be more vigilant and forward-thinking to stay ahead of the competition. Significant changes in the supply chain for smart vending machines as a result of COVID-19, as well as changes in consumer behavior. Because the economic and social effects of COVID vary greatly between markets and countries, smart vending machine market participants are developing country-specific strategies.
Africa smart vending machine Market – By Technology
The Africa smart vending machine market is segmented by technology into Cashless Systems, Telemetry Systems, and Voice Recognition. The push for cashless payments significantly increases the use of intelligent vending machines. IoT network advancements have benefited the retail industry, opening up new opportunities for players in the intelligent vending machine market. The remote management of intelligent vending machines is a key proposition for retailers across the country.
Competitive Landscape
Major companies in Africa smart vending machine market include ECOM Agro-industrial Corporation Ltd, Automated Merchandising Systems, Fuji Oil Company, Ltd., Barry Callebaut AG, Olam International, and Cargill. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Africa smart vending machine market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Africa Smart Vending Machine Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Africa Smart Vending Machine Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
240 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Africa Smart Vending Machine Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Low Operating Cost
- 3.2.1.2. Increase Adoption in IT Technology
- 3.2.1.3. Flexibility in Payment
- 3.2.2. Restraints
- 3.2.2.1. Lack of Operating Knowledge Among People
- 3.2.3. Opportunities
- 3.2.3.1. Increase in Technological Advancement
- 3.2.4. Challenges
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Africa Smart Vending Machine Market Overview
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Type
- 4.2.1.1. Retail Vending Machine
- 4.2.1.2. Self Service
- 4.2.1.3. Others
- 4.2.2. By End-Use Industry
- 4.2.2.1. Retail Industry
- 4.2.2.2. Entertainment and Hospitality
- 4.2.2.3. Medical
- 4.2.2.4. Transportation/Public Transport
- 4.2.2.5. Others
- 4.2.3. By Technology
- 4.2.3.1. Cashless Systems
- 4.2.3.2. Telemetry Systems
- 4.2.3.3. Voice Recognition
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Offerings
- 5.2. Africa Smart Vending Machine Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 6. Impact of Covid-19 on Africa Smart Vending Machine Market
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. ECOM Agroindustrial Corporation Ltd
- 7.2. Automated Merchandising Systems
- 7.3. Fuji Oil Company, Ltd.
- 7.4. Barry Callebaut AG
- 7.5. Olam International
- 7.6. Cargill
- 7.7. Other Prominent Players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Region
- 9.5. Assumptions & Limitations
- *Financial information of case of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
- List Of Figures
- Figure 1 Africa Smart Vending Machine Segmentation
- Figure 2 Africa Smart Vending Machine Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Africa Smart Vending Machine Market Size, By Value (USD Million), 2019–2029
- Figure 5 Africa Smart Vending Machine Market Share, By Type, By Value, 2019–2029
- Figure 6 Africa Smart Vending Machine Market Share, By End Use Industry, By Value, 2019–2029
- Figure 7 Africa Smart Vending Machine Market Share, By Technology, By Value, 2019–2029
- List of Tables
- Table 1 Africa Smart Vending Machine Market Size, By Value (USD Million), 2019–2029
- Table 2 Africa Smart Vending Machine Market Size, By Type, By Value, 2019–2029
- Table 3 Africa Smart Vending Machine Market Size, By End Use Industry, By Value, 2019–2029
- Table 4 Africa Smart Vending Machine Market Size, By Technology, By Value, 2019–2029
- Table 5 ECOM Agroindustrial Corporation Ltd Company Overview
- Table 6 ECOM Agroindustrial Corporation Ltd Financial Overview
- Table 7 Automated Merchandising Systems Company Overview
- Table 8 Automated Merchandising Systems Financial Overview
- Table 9 Fuji Oil Company, Ltd. Company Overview
- Table 10 Fuji Oil Company, Ltd. Financial Overview
- Table 11 Barry Callebaut AG Company Overview
- Table 12 Barry Callebaut AG Financial Overview
- Table 13 Olam International Company Overview
- Table 14 Olam International Financial Overview
- Table 15 Cargill Company Overview
- Table 16 Cargill Financial Overview
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
