The latest market report published by Credence Research, Inc. is “Global Industrial vending machines Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global Industrial vending machines market generated revenue of around USD 2.3 billion in 2021 and is anticipated to grow a CAGR of over 7.20% during the forecast period from 2022 to 2028 to reach around USD 3.49 billion in 2028.
The increasing use of vending machines in various end-use sectors, as well as their capacity to provide point-of-use inventory management solutions for industrial and safety supplies, are likely to drive the industrial vending machine market forward. These benefits are expected to increase demand for industrial vending machines. Furthermore, the growing requirement for enterprises to reduce downtime costs is projected to drive market expansion. Industrial vending machines are intended to reduce operational downtime by allowing businesses to manage their inventories more effectively. Furthermore, these systems are available in a variety of configurations, including carousels and coil vending machines. These elements boost the sales of industrial vending machines.
is bifurcated into By Offering, Type, end-user industry, and Geography. Based on the offering, the market is categorized into hardware and software. Based on the type, the global market is segmented into vertical lift machines, coil vending machines, carousel vending machines, sales vending machines and others. Based on the end-user industry, the global market is segmented into aerospace, healthcare, manufacturing, oil & gas, construction and others. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America region dominated the highest market share in 2021. The growing demand for industrial vending machines in North America is due to increased worker safety awareness. Vending machines allow organizations to easily track which employees have access to supplies at any given time, providing valuable insight into internal supply needs. These factors apply to the North American commercial vending machine market. The widespread use of PSA vending machines is also a growth factor for commercial vending machines. The advantages of industrial vending machines are considered to be the main driving force for increasing the market share of industrial vending machines during the forecast period.
The major drivers for this market are the rising labor costs and the need for improved operational efficiency. However, the major challenges for this market are the high initial investment and the lack of awareness among end users. The industrial vending machines market is highly fragmented with a large number of small and medium sized players. Some of the key players in this market include Bastian Solutions, Inc., JBT Corporation, Kollmorgen Corporation, Rockwell Automation, Inc., and Schneider Electric SE.
Why to Buy This Report-
· The report provides a qualitative and quantitative analysis of the global Industrial vending machines market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
· The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level
· In-depth analysis of the global Industrial vending machines market segmentation based on offering, type and end-user industry.
· Major countries in each region with their import/export statistics
· The global Industrial vending machines market report also includes analyzing the global, regional, and country levels, along with key market trends, significant player analysis, market growth strategies, and key application areas.
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