MACHINE & MACHINE REFURBISHMENT
A digital transformation
It's an exciting time for automatic retail. With the introduction of self check-outs at the supermarket, self-service ticket machines at the train station and other automated services, consumers are becoming more and more comfortable using computerised machines with screen interfaces. How is this affecting the market for self-service refreshment providers? Vending International takes a look...
According to BCC Research, the global self-services technologies market is dynamic and growing with new developments and adoption from new industries and sectors. “The global market for self-service technologies should grow from $54.4 billion in 2016 to $83.5 billion by 2021 on a five-year compound annual growth rate (CAGR) of 8.9%. Vending machines, the largest segment, should grow from $30.1 billion in 2016 to $42.8 billion by 2021, reflecting a five-year CAGR of 7.3%.” The report continues: “In the vending machine market, connected
vending machines are expected to see significant growth over the forecast period. However, the high price of these connected and smart vending machines may deter their adoption.” BCC Research analyst Ritam Biswas added: “While the market will see strong growth across all industries, certain industries such as financial
services, retail, food and beverages, professional organizations, and travel and transportation are expected to remain the major contributors.” According to global market research provider Euromonitor's latest
report on vending in the United Kingdom, released in January this year, "There is expected to be a growing willingness to experiment within vending in the forecast period, as a stronger economic performance in the UK encourages investors in this channel." With high street retail outlets moving into self-service territory, vending needs to keep up with the latest technological advances to maintain its convenience advantage.
INTELLIGENT VENDING MAKES FOR CLEVER BUSINESS Publisher of off-the-shelf market research Global Industry Analysts (GIA) reports that the global installed base of intelligent vending machines is projected to reach 2.7 million units by 2020, driven by benefits such as ease of use, higher energy and operating efficiency, and ability to offer a more engaging retail experience. “Rapid urbanization and the resulting increase in traffic at public places is further strengthening the business case for intelligent vending machines,” GIA maintained, “supported by factors such as robust demand for healthy vended foods, and development of cashless and credit card systems for vending machines.” With vending machines currently undergoing a digital
transformation to accommodate the growing trend towards Internet- connected devices, now is an ideal time for operators to invest in new technology. The introduction of ‘Internet of Things’ (IoT) into the vending market allows traditional vending machines to go beyond just offering snacks and beverages to provide an engaging
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