Dublin, June 07, 2024 (GLOBE NEWSWIRE) -- The "Global Industrial Vending Machine Market by Type (Vertical Lift, Coil, Carousel, Scale, Locker, Drawer), Product Type (PPE, Hand Tools, Power Tools, Industrial Supplies, Fastening, General Supplies), Offering, Industry and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global industrial vending machine market size is expected to grow from USD 1.6 billion in 2024 to USD 2.5 billion by 2029, at a CAGR of 10.1% from 2024 to 2029.
An increase in demand, differing lead times, and inconsistent reorder processes can lead to stock-outs. With the help of the industrial vending machine, the stored items are automatically replenished, which eliminates the probability of stock-out, and access to inventory is available 24/7. Industrial vending machines go beyond inventory management. They not only increase the efficiency of a workplace but also reduce downtime.
Hardware segment is projected to hold largest market share during the forecast period.
Industrial vending machine include dispensers, electronic lockers, vending machine controllers, sensors, cameras, radio frequency identification (RFID) tool portals, cables, energy chains, cash & cashless payment systems, cards, IDs, and near-field communication (NFC) device. The basic design of a vending machine begins with the cabinet and the steel outer shell, which holds all the internal components. Employees access the machine through an identification system deployed on its outer body via barcode scanners, proximity cards, biometrics, smart cards, or mag-stripe IDs. Electronic components such as coin and bill validators, test coins, and scan dollar bills are incorporated in the vending machine to ensure that the cash is genuine and of actual amount of the supplies to be issued.
Scale vending machine segment is expected to grow at an impressive CAGR during the forecast period.
Scale-based inventory management vending system provides secure access and dispensing of products. The machine logs inventory data collected via the scales as products are dispensed. Scale vending machines are also known as weight-based vending machines, which are used for high volume vending of items such as gloves and batteries. Users can access products quickly and easily without logging manually or updating inventory. Stock levels are monitored and updated accurately when products are dispensed from the scale containers. While using a scale-based vending machine, the user swipes their ID card to gain access to the scale cabinet and removes the required items. Load sensors instantly recognize the change in stock weight and accurately gauge the corresponding change in product quantity.
Healthcare segment is projected to grow at an impressive CAGR during the forecast period.
The vending machine technology is not only limited to the sale of food and beverages but also extended to the sale of medical products. In the healthcare industry, access to critical PPE supplies is vital for the safety of both patients and healthcare providers. In addition, keeping track of the inventory levels helps ensure that the staff has access to the required PPE supplies. The industrial vending machines in the healthcare industry provide immediate access to critical PPE supplies and enable tracking of where supplies are going in real time.
The market in Europe is expected to grow at a impressive CAGR during the forecast period.
The automotive industry is a significant contributor to the growth of the industrial vending machine market in Germany. The country has presence of several automotive manufacturers such as AUDI AG, BMW AG, Mercedes-Benz Group AG, Dr. Ing. h.c. F. Porsche AG, and more which will help to drive the adoption of industrial vending machines in Germany. Automotive manufacturing relies on a wide range of specialized tools and equipment. Industrial vending machines ensure the controlled dispensing of the correct, certified tools, minimizing errors and promoting quality assurance in production processes. Automotive parts often require strict traceability to ensure quality and prevent recalls. Vending machines with integrated software can track parts usage, expiry dates, and lot numbers, facilitating compliance with regulations.
The report provides insights on the following:
- Analysis of key drivers (Surging demand for secure vending machines in data centers, Growing adoption of point-of-use tracking solutions for critical industrial supplies, Rising use of smart vending machines with cloud and loT integration), restraints (High initial investment, Complexities of inventory control for a variety of manufacturing supplies), opportunities (Increasing popularity of carousel vending machines among SMEs, Industrial vending machines powering the digitization of smart factory supply chains, Rising labor shortage to offer growth opportunities for industrial vending machines), and challenges (Complexity of implementation) influencing the growth of the industrial vending machine market.
- Product Development/Innovation: Detailed insights on new products, technologies, research & development activities, funding activities, industry partnerships, and new product launches in the industrial vending machine market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the industrial vending machine market across regions such as North America, Europe, Asia Pacific, and RoW.
- Market Diversification: Exhaustive information about new products & technologies, untapped geographies, recent developments, and investments in the industrial vending machine market.
- Competitive Assessment: In-depth assessment of market position, growth strategies, and product offerings of leading players like Fastenal Company (US), Airgas, Inc. (US), RUBIX GROUP (UK), MSC Industrial Direct Co., Inc. (US), Turtle (US), and among others in the industrial vending machine market.
- Strategies: The report also helps stakeholders understand the pulse of the industrial vending machine market and provides information on key market drivers, restraints, challenges, and opportunities.
Key Topics Covered:
Executive Summary
- Industrial Vending Machine Market Size, 2020-2029 (USD Million)
- Hardware Segment to Account for Larger Market Share in 2029
- Vertical Lift Machines Segment to Exhibit Highest CAGR in Industrial Vending Machine Market, by Type, from 2024 to 2029
- Manufacturing Industry to Dominate Industrial Vending Machine Market During Forecast Period
- North America Held Largest Share of Global Industrial Vending Machine Market in 2023
Premium Insights
- Attractive Opportunities for Players in Industrial Vending Machine Market - Mounting Demand for Inventory Management Solutions in Manufacturing Sector to Drive Market
- Industrial Vending Machine Market, by Offering - Hardware Segment to Hold Larger Share of Industrial Vending Machine Market in 2024
- Industrial Vending Machine Market, by Industry - Manufacturing Segment to Dominate Market Between 2024 and 2029
- Industrial Vending Machine Market in North America, by Industry and Country - Manufacturing Industry and US Accounted for Largest Shares of North American Industrial Vending Machine Market in 2023
- Industrial Vending Machine Market, by Country - China to Exhibit Highest CAGR in Global Industrial Vending Machine Market During Forecast Period
Market Dynamics
- Drivers
- Rising Emphasis on Access Control in Data Centers
- Growing Adoption of Point-Of-Use Inventory Management Solutions
- Increasing Integration of Cloud and IoT Technologies into Vending Machines
- Restraints
- High Initial Investments
- Complexities Associated with MRO Inventory Management
- Opportunities
- Escalating Adoption of Carousel Machines by SMEs
- Rising Deployment of Industry 4.0 Technologies to Modernize Manufacturing Operations
- Mounting Demand for Smart Industrial Solutions to Overcome Labor Shortage Issue
- Challenges
- Data Synchronization and Compatibility Issues
Case Study Analysis
- Meggitt Polymers & Composites Adopts Cribmaster's Dispensing Machines to Streamline Inventory Management
- Trane Implements Autocrib's Dispensing Systems to Enable Access-Controlled Availability of Gloves
- International Airline Corporation Uses Autocrib's Autolockers to Track Tools Issued for Aircraft Maintenance Work
Companies Profiled
- Fastenal Company
- Airgas, Inc.
- Rubix Group
- Msc Industrial Direct Co. Inc.
- W.W. Grainger, Inc.
- Asdsystems
- Autocrib
- Irmatic
- Supplypoint
- Supplypro
- Turtle
- 1Sourcevend
- Automaty-Bhp.Pl.
- Cribmaster
- Easier Vending
- IMC Group
- Industrial Vending Systems
- Intelligent Dispensing Solutions
- Inventor-E Ltd
- IVM, Inc.
- IVM Zrt.
- Jofemar Corporation
- Reliance Supply Inc.
- Seaga Manufacturing Inc.
- Securastock
- Silkron
- Sprint Engineering & Lubricants Limited
- Tooling Intelligence Ltd
- Vechnology Sdn Bhd
For more information about this report visit https://www.researchandmarkets.com/r/fmv79q
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