The installed base of connected vending machines worldwide will reach 5.4 million by 2022
Gothenburg, Sweden - April 19, 2018 (Investorideas.com Newswire) Berg Insight, the world's leading IoT market research provider, today released a new market report covering the connected vending machine market. The global installed base of connected vending machines reached an estimated 2.6 million units in 2017. North America represents the largest share of around 1.3 million of these machines, whereas the corresponding number for the European market is 0.6 million. The number of connected vending machines in other parts of the world totalled an estimated 0.7 million units at the end of 2017, mainly in Japan and Australia. Berg Insight forecasts that the number of connected machines worldwide will grow at a compound annual growth rate (CAGR) of 16.2 percent to reach 5.4 million units by 2022. As a result, the global penetration rate will reach 32.2 percent at the end of the forecast period.
The global market for connected vending solutions is served by a variety of players. Many of the leading providers are specialised technology companies offering connected vending telemetry and cashless payment solutions. "USA Technologies is following the acquisition of Cantaloupe Systems in 2017 clearly become number one in terms of installed base", said Rickard Andersson, Senior Analyst, Berg Insight. He adds that other leading technology suppliers include Ingenico Group, Nayax and Televend (INTIS). Vianet Group, Vendon and Vendwatch Telematics are additional examples of technology players with relatively significant installed bases. Numerous vending machine manufacturers are also active in the connected vending space, either directly by developing proprietary solutions in-house, or by partnering with established vending telemetry and cashless payment solution providers. "The manufacturer Crane even holds one of the leading positions from a global perspective through Crane Connectivity Solutions with a total of 400,000 connected machines", continued Mr. Andersson. In line with developments observed on other M2M/IoT markets which have reached a higher level of maturity, Berg Insight estimates that this space also will be dominated by a few multinational players having global installed bases of hundreds of thousands of connected vending machines. "The milestone of one million connected vending machines on the same platform is expected to be surpassed already in 2020", concluded Mr. Andersson.
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About Berg Insight
Berg Insight is a dedicated M2M/IoT market research firm based in Sweden. We have been specialising in all major M2M/IoT verticals such as fleet management, car telematics, smart metering, smart homes, mHealth and industrial M2M since 2004. Our vision is to be the most valuable source of intelligence for our customers. Berg Insight offers numerous market reports, detailed market forecast databases and advisory services. We provide custom research tailored to your requirements including focussed research papers, business case analysis, go-to-market strategies and bespoke market forecasting. We have provided analytical services to 850 clients in 70 countries on six continents to date. Our customers range from many of the world's largest mobile operators, IT companies and telecom vendors, to venture capitalists, technology start-ups and specialist consultants.
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