Connected Vending Machines 6th Edition

Connected Vending Machines 6th Edition

Connected Vending Machines is the sixth consecutive report fromBerg Insight analysing the latest developments on the vendingtelemetry and cashless payment market worldwide. This strategicresearch report from Berg Insight provides you with 120 pages ofunique business intelligence including 5-year industry forecasts andexpert commentary on which to base your business decisions.

Connected Vending Machines 6th Edition

The first solutions for including connectivity in vending machines became commercially availablemore than two decades ago. It has however taken years for the technology to gain the interestof mainstream vending operators. Berg Insight estimates that around 44 percent of the world’snearly 14.8 million vending machines are connected. The market has continued to gainmomentum in recent years, where the demand for cashless payments has so far been a maindriver, particularly following the Covid-19 pandemic. Vending telemetry is however anticipatedto have a more transformational effect on the industry as these solutions enable operators toimprove their operational efficiency.

The global installed base of connected vending machines reached close to an estimated 6.5million units in 2023. The Rest of the World markets are estimated to represent the largest shareof these machines with an installed base of around 2.5 million units. The growth in the Rest ofthe World markets is primarily driven by the increasing number of connected machines in Chinaand Japan. North America is the second largest market with an estimated installed base of 2.3million connected vending machines. In Europe, the installed base of connected vendingmachines is believed to have reached around 1.8 million units. Berg Insight forecasts that thenumber of connected vending machines worldwide will grow at a compound annual growth rate(CAGR) of 11.8 percent to reach 11.4 million units by 2028. As a result, the global penetrationrate will reach 71.3 percent at the end of the forecast period.

The global market for connected vending solutions is served by various players. Many of theleading providers are specialised technology companies. Cantaloupe is the largest provider interms of installed base, having more than 920,000 connected vending machines. Other majorsuppliers include Nayax, Televend (INTIS) and Ingenico. Nayax and Ingenico are twointernational players, while Televend monitors vending machines mostly in Europe. Othersuppliers with notable installed bases include MatiPay, Vendon, InHand Networks and VianetGroup. Numerous vending machine manufacturers are also active in the connected vendingspace. The manufacturer Crane Payment Innovations (CPI) holds one of the leading positionsfrom a global perspective while LE Vending and TCN Group are important players in China.Vending operators active in the field of connected vending machines most often work with third-party providers and some even have various in-house solutions. Examples of such vendingoperators include Chinese UBOX and Italian IVS Group.