Pune, India -- (SBWIRE) -- 10/19/2020 -- The global "Industrial Vending Machines Market size is predicted to reach USD 3.68 billion by 2027, exhibiting a CAGR of 6.9% during the forecast period. The increasing adoption of personal protective equipment (PPE) in numerous industries will have a positive impact on the market during the forecast period, states Fortune Business Insights, in a report, titled "Industrial Vending Machines Market Size, Share & Industry Analysis, By Type (Carousel Vending Machine, Coil Vending Machine, and Others), By Product (Maintenance, Repair and Operations (MRO), Personal Protective Equipment (PPE), and Others), By End-User (Manufacturing, Oil & Gas, and Others) and Regional Forecast, 2020-2027" the market size stood at USD 2.17 billion in 2019.

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The report on the industrial vending machines market encompasses:

- Through analysis of all the sections
- Informative data and figures on every region
- Latest Market trends and drivers
- Superior insights into all emerging developments

The Report Lists the Main Companies in the Industrial Vending Machines Market:

Fastenal Company (Minnesota, United States)
AutoCrib, Inc. (California, United States)
IVM Ltd. (Indiana Polis, United States)
Apex Industrial Technologies LLC. (Ohio, United States)
Silkron (Penang, Malaysia)
SupplyPro, Inc. (California, United States)
SupplyPoint (Rugby, United Kingdom)
CribMaster (Marietta, Georgia)
CMT Industrial Solutions (South Carolina, United States)
Brammers (London, United Kingdom)

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Market Restraint:

Evolving Industrial Automation to Promote Development in Asia Pacific

The Industrial Vending Machines Market in Asia Pacific generated a revenue of USD 0.67 billion in 2019 and is likely to remain dominant during the forecast period. The rising employment of vending machines to enhance the productivity and efficiency in manufacturing processes will boost the market in the region. The increasing focus towards improving inventory management will aid the expansion of the market in the region. North America is predicted to witness a high growth rate during the forecast period. The growth in the region is attributed to the rising concerns regarding worker safety, which is boosting the adoption of vending machines in the region. Europe is predicted to rise excellently in the forthcoming years due to the emphasis on high productivity and accountability in manufacturing plants. The increasing purchase of cutting-edge machines in Italy, the UK, France, and Russia will bolster the healthy growth of the market during the forecast period.

Segmentation Industrial Vending Machines Market

- By Type

Carousel Vending Machine
Coil Vending Machine
Others (Cabinet Vending Machine, etc.)

- By Product

Maintenance, Repair, and Operations (MRO)
Personal Protective Equipment (PPE)
Others (Cutting Tools, etc.)

- By End-User

Manufacturing
Oil & Gas
Others (Military & Defense, etc.)
By Region

- North America (the U.S. and Canada)
Europe (U.K., Germany, France, Italy, and the Rest of Europe)
Asia Pacific (China, India, Japan, Southeast Asia, and the Rest of Asia Pacific)
Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)
Latin America (Brazil, Mexico, and the Rest of Latin America)

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Market Driver:

Advanced Technology Integrated Vending Machines Market to Foster Growth

The market has gained enormous impetus from the advent of advanced technologies. The integration of RFID tags and cloud infrastructure for a multi-lingual display system will create enormous opportunities for the market in the forthcoming years. For instance, IVM's vending machines are integrated with SaveLog software that records each transaction using RFID tags, along with multi-language displays and alerts for filling up the stock. The automatic vending machines can be used to dispense all types of items without the need for staff intervention. Thus, heavy demand for smart machines will enable speedy expansion of the market. The growing adoption of industrial vending machines market in small and medium manufacturing facilities owing to its benefits such as cost-effective and low energy consumption will further uplift market sales in the foreseeable future. The rising focus of industries towards lessening the management inventories and improving performance will subsequently propel the growth of the market.

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Comprehensive analysis of the Wearable Medical Devices Market growth drivers, obstacles, opportunities, and other related challenges.
Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
Identifies market restraints and boosters.
Identifies all the possible segments present in the market to aid organizations in strategic business planning.

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Key Research Objectives

Industrial Vending Machines Market size and growth rate by various segments at global and regional level for the 2015-2026 period, with 2015-2017 as historical data, 2018 as base year and 2019-2026 as forecast period
Overall market size and growth rate for key countries for the 2015-2026 period
Market dynamics - Market drivers, restraints, trends and opportunities
Technological and market developments shaping the market
Competitive analysis
Profiles of key companies operating in the Industrial Vending Machines Market
Key insights

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