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North America intelligent vending machine market to Dominate Worldwide by 2026

Author : Ronak Bora | Published Date : 2021-01-16 

With leading enterprises including Walmart, Nespresso, CVS, and their ilk piloting intelligent vending machines at multiple and diverse venues, the North American customers have been reaping the benefits of this smart technology. Backed by the rapid approval for coffee vending machines and tea vending machines, by 2025, the North America intelligent vending machine market share is expected to surge to attain $14 billion.

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The following four trends have been instigating the North America intelligent vending machine industry share:

Promotion of energy conservation standards to instigate demand

Regulatory bodies operating in the region, including the US Department of Energy have been looking to promote the adoption of energy efficient appliances across the country to protect the environment and bring down surplus expenditures. The espousal of smart technologies such as the deployment of smart vending machines can significantly reduce costs via their highly efficient compressors, fan motors, and lighting systems.

Some certified refrigerated beverage vending machines can save up to 1,000 kWh per year. As more smart vending machines have been popping up alongside doorways, lobbies, highways, and near farms, the technology is set to transform distribution of goods, particularly during the challenging times of the COVID-19 crisis.

Self-service system to garner higher returns across food & beverage application

The trending espousal of self-service technology during the restricting times of the COVID-19 pandemic has been a major influence on the North America intelligent vending machine industry outlook. Over the coming period, multiple locations ranging from retail stores, shopping malls, and supermarkets are likely to completely automate the sales process by installing smart devices that eliminate the need for a human salesperson.

The hassle-free experience offered by these systems can aid in enhanced sale of beverages such as coffee, cold coffee, tea, fruit juices, soda drinks, and the like, as well as food items such as chips and fries.  Of late, tea vending machines and coffee vending machines are particularly faring well. This will be advantageous for the North America intelligent vending machine market growth.

US to expand fast as applications multiply with innovative ideas trending

The US has been marshalling the overall North America intelligent vending machine industry through its high adoption rate across multiple applications. With innovative solutions such as the new art vending machines deployed by artists to effectively display their work in the Bay area of San Francisco, independent businesses and artists are receiving considerable support. These machines are not only fostering financial independence of struggling artists but are also entertaining and bizarre, in order to bring in more customers at strategic locations.

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IoT solutions to gain momentum with adequate supply issues being addressed

The integration of IoT technology has been instrumental in sending automated updates to the management regarding the foreseen shortage of supplies. New products such as those offered by Cognizant feature smart sensor equipment that can not only prevent stock-outs but also send automated messages in case the location of the smart vending machine has been changed.

This can also prevent thefts and potential malfunctions, simultaneously lowering the maintenance costs. This is certain to boost the North America intelligent vending machine as the supply chain costs can be significantly curbed.

With the prominent players influencing the North America intelligent vending machine industry dynamics, the market is sure to witness launches of innovative products through the next few years.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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