“Making vending machines smarter requires cross-domain technology expertise, real-time data visibility and actionable insights into customers’ purchasing patterns,” said Frederic McCoy, SVP, Jabil Retail. “Our smart upgrades create unprecedented value for vending machine owners and operators, as well as product distributors and property owners.”
According to Persistence Market Research (PMR), the global intelligent vending machines market is expected to reach $15 billion by 2025, with a projected CAGR of more than 15% during the forecasted period. PMR also states that new intelligent vending solutions will attract more customers to retail stores, helping the sector grow, especially in the US.
With its fully integrated market-enablement solution, Jabil can turn traditional vending machines into highly connected smart machines that take advantage of touchscreen controls, video, audio, scent, gesture-based interaction and cashless payment. Mobile and cashless payment, in particular, are gaining traction with solutions that leverage Near-Field Communications (NFC). Smartphone applications that take advantage of Artificial Intelligence (AI) also can improve customer experiences by providing real-time inventory updates to simplify purchasing.
Jabil has partnered with Intel to supply Intel’s reference design for intelligent vending, which includes a processor-based design and Application Programming Interface (API) for accessing machine peripherals. In addition to optimizing hardware and configurable software, Jabil integrates user interface (UI) and control software, sensors and remaining components in a consolidated, connected platform.
The ability to collect vast amounts of data comes from Jabil’s installation of sensors that capture vending machine inventory, customer buying patterns and preferences, as well as key performance indicators regarding temperature and other major functionality. Sending and receiving real-time notifications via the cloud also provides operators with much-needed visibility into inventory levels to automate restocking as well as expedite repairs while reducing maintenance costs.