News | Industry Updates Industrial vending machine market worth $1.8 billion by 2026

that require a complete refurbishment of the warehouse or production area, VLM systems are modularised and easy to implement. The modular construction gives the ability to change the unit's height to meet future needs and capitalise further on the initial investment.

According to research by MarketsandMarkets, the industrial vending machine market is expected to grow from $1.1 billion in 2021 to $ 1.8 billion by 2026, at a rate of 11.0%. The market growth can be attributed to

several factors, such as growing need for high-security industrial vending machines in data centres, increasing use of point- of-use inventory management and tracking solutions for industrial and safety supplies, and integration of IoT and cloud infrastructure into industrial vending machines.

Vertical lift machines set for highest growth The growing need to optimise warehouse floor space, rising warehouse rentals, increasing focus on worker safety and security, and benefits associated with the deployment of vertical lift machines (VLM) compared to standard shelving systems are driving the growth of the VLM segment. Designed to deliver stored items to the

operator and eliminate walk and search time, the VLM can increase two-third of productivity. The VLMs offer more flexibility than other automated storage and retrieval systems (ASRS) solutions. Unlike large ASRS systems

Manufacturing end-user industry to hold the largest market The use of a vending machine for industrial supply helps eliminate costly restocking delays by predicting tool shortages. With wireless connectivity, customisable configurations, operational reports, and mobility, the industrial vending machines provide actionable data that allow managers to make daily decisions and plans for long-term strategic initiatives to keep operations running at full efficiency. They also provide gauge calibration management and detailed audit trail information for accurate quality control and recall operations. The vending machine used in the manufacturing industry dispenses items such as machine calibration equipment and gauges, precision tools and

North America is leading the industrial vending machine market in 2020 North America held the largest share in the industrial vending machine market in 2020 and is expected to continue to dominate the market due to the high demand for industrial vending technology in the region, predominantly from the healthcare and manufacturing end-user industries. These end-user industries have a large presence in North America, which is consequently driving the demand.

Partnership to roll out cashless payments across Europe

Selecta Group is partnering with specialist in payments and financial services technology, Fiserv, to enhance and streamline digital payments across its points of sale. This is expected to meet consumer demand and boost operational efficiency as self-service technologies such as vending machines and smart fridges boom in a pandemic-conscious world. Selecta’s vision is to have a ONE

Selecta technology solution that will support cashless interactions across its operations and enable future development and integration. The company is leveraging a pan-

European payments solution from Fiserv 10 |

that will support payments with global and local card schemes and mobile apps at the point of sale. Selecta is also evaluating a mobile

payment app, which will include access to a Selecta loyalty programme. A dedicated merchant portal will enable Selecta to streamline terminal management, including onboarding and activation, reporting and insights, maintenance, and diagnostics. “Whether buying a beverage or a meal

in the workplace or on-the-go, consumers are looking for modern, cash- free and contactless payment options,” said Christian Schmitz, chief executive of Selecta Group.

“With Fiserv we will be able to deliver

these options in a way that is easy for us to manage, through a single solution, while unified reporting will give us a new level of insight into our business.” “Seamless digital payment capabilities perfectly complement the convenience of self-service retail, and enhance the overall buying experience,” said John Gibbons, head of EMEA at Fiserv. “As consumer habits continue to shift,

we are committed to working with Selecta to meet the current and future payment preferences of their clients while enabling them to streamline operations across Europe.”

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