World News: 14:41 GMT Friday 12th July 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, July 12, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering. The global industrial vending machine market size is estimated to reach USD 3.72 billion by 2025 registering a CAGR of 8.9% from 2019 to 2025Rising need for downtime cost reduction in companies is expected to foster the growth of this market over the forecast period. These machines help lower operational downtime while improving efficiency by enabling companies to manage their inventory efficiently. Moreover, the equipment is available in different types, such as carousel and coil machines.Strict regulations concerning employee safety are expected to stimulate the market growth. Vending machines for Personal Protective Equipment (PPE) are increasingly being implemented in manufacturing and oil & gas companies to enable efficient usage of protective equipment, such as gloves, goggles, and helmets. Furthermore, Maintenance, Repair and Operation (MRO) machines are installed at maintenance facilities in aviation industries, where downtime affects the business operations in a significant way. Original Equipment Manufacturers (OEMs) are developing advanced machines that are IoT-enabled.For instance, vending machines are connected to the internet that enables data management of the inventory usage and tracking of inventory to prevent fraudulent activities, such as theft. Moreover, these products are connected to the cloud to enable remote data access. Thus, companies can carry out effective inventory management and prevent unnecessary expenses on inventory replenishment. Some of the prominent manufacturers and distributors in the global market are W. W. Grainger, Inc., Fastenal Company, and AutoCrib, Inc. These companies also provide services, such as consulting and maintenance, and offer either supplier-managed or supplier-agnostic solutions.
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Related Topics: Vending Machines
Globe Newswire: 14:41 GMT Friday 12th July 2019
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