Industrial Vending Machine Market To Reach $4.37 Billion By 2026

According to Trends Market Research, the Global Industrial Vending Machine Market is accounted for $1.89 billion in 2017 and is expected to reach $4.37 billion by 2026 growing at a CAGR of 9.8% during the forecast period. Increasing product usage in many small- and Medium-sized Enterprises (SMEs) and specialty manufacturing units owing to long-term benefits of cost saving. However, high initial capital investment for SMEs 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.

Industrial vending machines enable organizations to adopt new, automated approach to maintenance, repair, and operations (MRO) inventory management, thus optimizes their MRO spends. They help in automatic dispensing of MRO items and also enable automatic record keeping, thereby enabling MRO 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 (IoT)-enabled industrial machines are gathering steam among various end users. Powered by cloud technologies, they help end users track inventory in more secure and easier way.

Based on segments, coil machineslikely to have a huge demand due to their large inventory holding capacity. By Geography, Asia Pacific is segment is constantly enhancing during the forecast period due to increasing adoption of automation processes across various industries in this region.

Some of the key players profiled in the Industrial Vending Machine market include:

INDUSTRIAL SMART VENDING MACHINES: Apex Industrial Technologies, LLC, AutoCrib, Inc., IVM Inc., SupplyPoint.

SOFTWARE: Silkron, SupplyPro, Inc.

INDUSTRIAL SUPPLIES: CMT Industrial Solutions, Crib Master, Fastenal Company, MSC Industrial Direct Co., Inc., W.W. Grainger, Inc.

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