Industrial vending machines enable organizations to adopt new, automated approach to maintenance, repair and operations, inventory management, thus optimizes their maintenance, repair, and operations spends. They help in automatic dispensing of maintenance, repair, and operations items and also enable automatic record keeping, thereby enabling maintenance, repair, and operations category managers in streamlining inventory management. End users usually source industrial vending machines from original equipment manufacturers, and are available in different types such as carousel vending and coil vending. Their use has lowered operational downtime, especially critical in the aviation industry. Internet of things enabled industrial machines are gathering steam among various end users. Powered by cloud technologies, they help end users to track inventory in more secure and easy way.
Industrial vending machine Market: Key Players
The research study includes profiles of leading companies operating in the global industrial vending machine market. Key players profiled in the report include: AutoCrib Inc., Apex Industrial Technologies, LLC, Silkron, SupplyPro Inc., SupplyPoint, CribMaster, CMT Industrial Solutions, IVM Ltd., Brammer and Grainger, Inc.
Drivers for the Global Industrial vending machine Market:
Increasing penetration of self-service technology across North America is the major driver of the industrial vending machine market. Moreover the Rising demand for cashless systems in Europe is boosting the growth of the market. Additionally the increasing number of retail outlets in Asia Pacific is fuelling this segment. However, rising economic stability and globalization in Latin America will further expand the market. Despite this, the growing adoption of reverse vending machine in Middle East & Africa will further boost the growth of the market.
Opportunities for the Global Industrial vending machine Market:
The rising need for reducing production downtime costs in organizations in various industry verticals is a key factor propelling the demand for industrial vending machines. The adoption of better inventory management approaches is rising in industries such as the manufacturing, aerospace, engineering services, and oil and gas industries. This is also aiding in the rapid expansion of the market. Constant technological advancements in industrial vending machines are improving their performance in maintenance, repair, and operations and inventory management. The advent of machines incorporated with radio-frequency identification and cloud has created lucrative prospects in the global market.
Restrains for the Global Industrial vending machine Market:
Rising security issues is restraining the growth of the market. There is a Prohibition of the sale of tobacco products in several regions which is hampering the growth of the market. Moreover the high initial capital investment for small and medium size enterprises and difficulty in finding system failure results in increasing the downtime, which in turn expected to restrain the growth of the Industrial Vending Machine market. Thus, all these factors will hamper the growth of the market.
Region Wise, Global Industrial vending machine Market Analysis:
The report covers the region wise analysis, global industrial vending machine market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia-Pacific leads the global industrial vending machine market share, followed by North America & Europe. While the Asia-Pacific leads the global industrial vending machine market due to the growing number of small and medium size enterprises in the region drives the product demand. Moreover, countries such as China and Japan are home to several original equipment manufacturers, thereby driving the regional market growth. As countries such as China, India, and South Korea adopt upcoming manufacturing and production practices, the region is anticipated to gain traction in the latter part of the forecast period.
Global Industrial vending machine Market: Product analysis
- Carousel Vending Machine
- Coil Vending Machine
Global Industrial vending machine Market: Application analysis
- Oil & Gas
Global Industrial vending machine Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East