The global installed base of connected vending machines grew by 18.4% to 1.16 million units in 2014, according to a new report by Swedish M2M research firm
Berg Insight.
The study said that 560,000 of these machines have been installed in North America and 150,000 were located in Europe. The number of connected vending machines in other parts of the world was 450,000, mainly in Japan and Australia, according to the research firm.
Berg Insight forecasts that the number of connected vending machines worldwide will grow at a compound annual growth rate of 18.5% to reach 2.7 million units by 2019. As a result, it projects the global penetration rate will reach 15.3% at the end of the forecast period.
Berg Insights said the connected vending market has gained momentum as operators have started to deploy cashless payment systems and vending telemetry solutions on a larger scale. The main market driver, the research firm pointed out, is currently cashless payments, which have become increasingly important as the world moves from coins and bills to electronic payments such as credit cards and mobile wallets.
“Vending operators that learn how to benefit from the real-time availability of vending machine data in the best way will have the highest chances of prospering in the vending industry in the next decade.” Lars Kurkinen
Vending telemetry solutions are expected to have a more transformational effect on the industry in the coming years. “The availability of machine data in real-time coupled with state-of-the-art software platforms make it possible for vending operators to reach entirely new levels of operational efficiency,” concluded Berg Insight senior analyst Lars Kurkinen. “Vending operators that learn how to benefit from the real-time availability of vending machine data in the best way will have the highest chances of prospering in the vending industry in the next decade.”
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