NEW YORK, March 22, 2021 /PRNewswire/ — The intelligent vending machine market is expected to grow by USD 9.33 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the intelligent vending machine market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the Response, Recovery, and Renew phases.
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The intelligent vending machine market will witness a positive impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth increased in 2020 as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Intelligent Vending Machine Market Participants:
Azkoyen SA operates its business through segments such as Coffee & Vending Systems, Payment Technologies, and Time & Security. The company offers Novara 2.0. It is a smart vending machine and has a 15″ screen which enables nutritional information about drinks to be displayed, and premium coffees to be promoted from the actual vending machine, or snacks from a slave vending machine.
Compass Group USA Inc.
Compass Group USA Inc. operates its business through segments such as Dining, Coffee & Office Snacks, and Vending. The company offers Smart Market. It is a self-checkout secure vending market that is used in hospitals, universities, hotel lobby, and multi-tenant office buildings.
Crane Co. operates its business through segments such as Fluid Handling, Payment and Merchandising Technologies, Aerospace and Electronics, and Engineered Materials. The company offers vending machines for cold drinks, snacks, food, and premium hot beverages and features a touch screen display combined with enhanced merchandising techniques.
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Intelligent Vending Machine Market 2020-2024: Segmentation
Intelligent vending machine market is segmented as below:
- North America
- South America
The intelligent vending machine market is driven by demand for cashless vending machines. In addition, other factors such as ability of real-time data collection through intelligent vending machines are expected to trigger the intelligent vending machine market toward witnessing a CAGR of almost 22% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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