Industrial Vending Machine Market with COVID-19 Impact Analysis by Type, Offering, Business Model, End-user Industry and Geography – Global Forecast to 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–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 affected 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.

Market Dynamics

Drivers

• Growing Need for High-Security Industrial Vending Machines in Data Centers
• Increasing Use of Point-of-Use Inventory Management and Tracking Solutions for Industrial and Safety Supplies
• Integration of IoT and Cloud Infrastructure into Industrial Vending Machines

Restraints

• Availability of Low-Cost Vending Machines and Unnecessary Operational Downtime of Industrial Vending Machines in COVID-19 Period
• Difficulties in Management of Wide Range of Consumables by Manufacturers

Opportunities

• Growing Adoption of Carousel Vending Machines by Small- and Medium-Sized Enterprises
• Digitization of Supply Chains in Smart Factories Through Use of Industrial Vending Machines

Challenges

• Requirement of High Initial Investments in Installation of Industrial Vending Machines

Companies Mentioned

• 1SourceVend
• Airgas, Inc.
• AutoCrib, Inc.
• AutomatyBHP
• Brammer
• CribMaster
• Digital Media Vending International, LLC
• Easier Vending LLC
• Engineers Mate Ltd.
• Fastenal Company
• IMC Group
• Industrial Vending Systems
• Intelligent Dispensing Solutions
• IVM, Inc.
• MSC Industrial Direct Co. Inc.
• Reliance Supply, Inc.
• Seaga Manufacturing Inc.
• SecuraStock, LLC
• Silkron
• SupplyPoint
• SupplyPro, Inc.
• Turtle & Hughes
• Vechnology
• Vending Design Works
• W.W. Grainger, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/508iyy

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