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The Worldwide Industrial Vending Machine Industry is Expected to Reach $1.8 Billion by 2026
DUBLIN, Sept. 10, 2021 /PRNewswire/ -- The "Global Industrial Vending Machine Market with COVID-19 Impact Analysis by Type (Vertical Lift Machine, Coil Vending Machine, Carousel Vending Machine, Scale Vending Machine), Offering, Business Model, End-user Industry, and Geography - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global industrial vending machine market is expected to grow from USD 1.1 billion in 2021 to USD 1.8 billion by 2026, at a CAGR of 11%.
The software segment is expected to exhibit a higher CAGR of the industrial vending machine market during the forecast period
Based on the offering, the industrial vending machine market has been divided into hardware and software. The software integrated into the industrial vending machine reports real-time data for every item in the inventory to track where it is, who has checked it out, and what job it has been assigned. Industrial vending machines and inventory control systems allow 24/7 access to safety gear and PPE supplies at the point of use. Employees have immediate access to these crucial items, while the inventory management software automatically maintains inventory quantities and purchase orders to prevent stock-outs.
Manufacturing segment to hold the largest share of industrial vending machine market during the forecast period
Industrial vending machines are automated devices that provide employees involved in a manufacturing process with the tools and materials to correctly and efficiently perform their duties on a timely basis. Industrial vending machines store, supply, and perform automatic inventory of tools and components used in the manufacturing process. The use of a vending machine for industrial supply helps eliminate costly restocking delays by predicting tool shortages. However, the outbreak of the COVID-19 pandemic has resulted in a temporary shutdown of manufacturing sites and facilities, which has hampered the purchasing power and financial condition of companies. This has adversely affected the growth of the industrial vending machine market for the short term.
The market for vertical lift machines to grow at the highest CAGR during the forecast period
On the basis of type, the market is categorized into vertical lift machines, coil vending machines, carousel vending machines, scale vending machines, and others. Rapid industrialization in emerging Asian economies, such as India and Vietnam, expanding e-commerce industry, and growing need for automated warehousing operations are the key factors fueling the demand for single-level delivery type vertical lift machines. Besides, there has been an increase in the adoption of vertical lift machines in various industries, such as semiconductor & electronics, aerospace, healthcare, and automotive, to store and retrieve components and raw materials.
APAC is expected to register the highest CAGR in the market during the forecast period
Among all regions, APAC is expected to register the highest growth in the industrial vending machine market during the forecast period. The entry of new players, increasing sales of industrial vending machines, and growing adoption of inventory management systems in the food, manufacturing, and healthcare industries are also driving the growth of the APAC market. However, the sudden outbreak of the COVID-19 pandemic has afected economic conditions and the adoption rate of inventory & asset management machines in many industries due to the high cost of industrial vending machines. However, the market's growth is expected to pick up pace in the coming years with a gradual recovery of the region's economy.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Key Opportunities in Industrial Vending Machine Market
4.2 Industrial Vending Machine Market, by Offering
4.3 Industrial Vending Machine Market in APAC, by Country and End-user Industry
4.4 Industrial Vending Machine Market, by Country
4.5 Industrial Vending Machine Market, by Type
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need for High-Security Industrial Vending Machines in Data Centers
5.2.1.2 Increasing Use of Point-of-Use Inventory Management and Tracking Solutions for Industrial and Safety Supplies
5.2.1.3 Integration of IoT and Cloud Infrastructure into Industrial Vending Machines
5.2.2 Restraints
5.2.2.1 Availability of Low-Cost Vending Machines and Unnecessary Operational Downtime of Industrial Vending Machines in COVID-19 Period
5.2.2.2 Difficulties in Management of Wide Range of Consumables by Manufacturers
5.2.3 Opportunities
5.2.3.1 Growing Adoption of Carousel Vending Machines by Small- and Medium-Sized Enterprises
5.2.3.2 Digitization of Supply Chains in Smart Factories Through Use of Industrial Vending Machines
5.2.4 Challenges
5.2.4.1 Requirement of High Initial Investments in Installation of Industrial Vending Machines
5.3 Value Chain Analysis
5.4 Technology Analysis
5.5 Patent Analysis
5.6 Porter's Five Forces Analysis
5.7 Ecosystem Analysis
5.8 Trends Impacting Businesses of Customers
5.9 Case Study Analysis
5.10 Average Selling Price (ASP) Trend
5.11 Trade Analysis
5.12 Regulatory Landscape
5.13 Analyst Insights
5.13.1 Are Traditional F&B Type Vending Market Leaders Getting into Industrial Vending - Why or Why Not? What Could be the Trend Going Ahead?
6 Solutions Provided by Industrial Vending Machines
6.1 Introduction
6.2 Inventory Management
6.3 Automated Locker Solutions
6.4 Asset Management Solutions
7 Industrial Vending Machine Market, by Offering
7.1 Introduction
7.2 Hardware
7.2.1 Hardware Segment to Account for Largest Share of Industrial Vending Machine Market
7.3 Software
7.3.1 Cloud-Based Software Suite is Highly Preferred for Industrial Vending Machines
8 Industrial Vending Machine Market, by Type
8.1 Introduction
8.2 Vertical Lift Machines
8.2.1 Vertical Lift Machines Offer Higher Flexibility Than Other Automated Storage and Retrieval Systems (Asrss)
8.3 Coil Vending Machines
8.3.1 Coil Vending Machine is Widely Adopted as It is Long-Lasting and Easy-To-Service Machine Currently Available
8.4 Carousel Vending Machines
8.4.1 Carousel Vending Machines Provide More Flexibility in Stocking of Items Compared to Coil-Based Machines
8.5 Scale Vending Machines
8.5.1 Scale Vending Machines are Ideal for Quick-Turn, High Volume, and Inexpensive Items
8.6 Others
9 Business Models for Industrial Vending Machines
9.1 Introduction
9.2 Supplier-Managed Solutions
9.2.1 Supplier-Managed Solutions Model is Predominantly Followed by Maintenance, Repair, and Operation (MRO) Product Distributors/Integrators
9.3 Supplier Agnostic Solutions
9.3.1 Supplier Agnostic Solutions Model is Followed by OEMs
10 Industrial Vending Machine Market, by End-user Industry
10.1 Introduction
10.2 Aerospace
10.2.1 Industry 4.0 Revolution Has Increased Usage of Intelligent Automated Dispensing Machines in Organizations Belonging to Aerospace Industry
10.3 Healthcare
10.3.1 Industrial Vending Machines Automate Inventory Management and Assist with Regulatory Compliance of Medical Industry
10.4 Manufacturing
10.4.1 Use of Vending Machines for Industrial Supply Helps Eliminate Costly Restocking Delays by Predicting Tool Shortages
10.4.1.1 Steel Mill
10.4.1.2 Food & Beverage
10.4.1.3 Automotive
10.5 Oil & Gas
10.5.1 Industrial Vending Solutions Maximize Productivity in Oil & Gas Industry
10.6 Construction
10.6.1 Industrial Vending Machines Have Prominent Usage in Rail/Transit Sector
10.7 Others
10.7.1 Mining
10.7.2 Energy & Utility
10.7.3 Government & Military
11 Geographic Analysis
12 Competitive Landscape
12.1 Introduction
12.2 Key Player Strategies/Right to Win
12.2.1 Overview of Strategies Adopted by Key Players in Industrial Vending Machine Market
12.3 Revenue Analysis of Top Players
12.4 Market Share Analysis of Key Players in 2020
12.5 Company Evaluation Quadrant, 2020
12.5.1 Star
12.5.2 Emerging Leader
12.5.3 Pervasive
12.5.4 Participant
12.6 Competitive Benchmarking
12.6.1 Company Footprint, by End-user Industry
12.6.2 Company Footprint, by Region
12.6.3 Company Product Footprint
12.7 Startup/SME Evaluation Quadrant, 2020
12.7.1 Progressive Company
12.7.2 Responsive Company
12.7.3 Dynamic Company
12.7.4 Starting Block
12.8 Competitive Situations and Trends
12.8.1 Product Launches/Developments
12.8.2 Deals
13 Company Profiles
13.1 Introduction
13.2 Impact of COVID-19 on Players in Industrial Vending Machine Market
13.3 Key Players
13.3.1 Fastenal Company
13.3.2 AutoCrib, Inc.
13.3.3 Airgas, Inc.
13.3.4 SupplyPoint
13.3.5 Brammer
13.3.6 SupplyPro, Inc.
13.3.7 CribMaster
13.3.8 IVM, Inc.
13.3.9 SecuraStock, LLC
13.3.10 Silkron
13.4 Other Players
13.4.1 Intelligent Dispensing Solutions
13.4.2 AutomatyBHP
13.4.3 MSC Industrial Direct Co. Inc.
13.4.4 W.W. Grainger, Inc.
13.4.5 Seaga Manufacturing Inc.
13.4.6 Easier Vending LLC
13.4.7 Turtle & Hughes
13.4.8 Digital Media Vending International, LLC
13.4.9 1SourceVend
13.4.10 Vending Design Works
13.4.11 Industrial Vending Systems
13.4.12 Vechnology
13.4.13 Reliance Supply, Inc.
13.4.14 Engineers Mate Ltd.
13.4.15 IMC Group
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/6lkwv5
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