Intelligent Vending Machine Market is valued at USD 14.13 Billion in 2018 and expected to reach USD 43.16 Billion by 2025 with the CAGR of 17.29% over the forecast period.""
Increasing trend towards cashless payment options, rapid growth in consumerism and significant transformation in the latest technologies in order to increase profitability and reduce the management cost of manufacturers or operators is driving the growth of the intelligent vending machine market.
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An intelligent vending machine is designed to increase sales capabilities through an advanced vending experience for product manufacturers, brands and operators. It enables vending machines to connect with the internet by allowing brands and operators to take advantage of cloud services, and data analytics. An intelligent vending machine includes a VMI hardware reference board design and application programming interfaces (APIs). Intelligent vending machines offer many payment options such as credit and debit cards, QR codes and other contactless payments methods. These machines also provide fast and easy access for re-architecting traditional vending machines into highly-capable, internet-connected machines. The vending machine industry is currently using intelligent system technologies to adapt technologies like HD touch-enabled screens and remote management software to simplify dispensing food and drink.
Intelligent vending machine market is segmented on the basis of by product, application and by region. Based on product, intelligent vending machine market is segmented into beverage, food, tobacco and others. Based upon application, the market is classified into retail sites, public transport hubs, offices/institutions and others.
Key players of the intelligent vending machine market are
The global intelligent vending machine market is primarily driven by the increasing trend towards vending telemetry & cashless payment options, rapid growth in consumerism, and significant transformation in the latest technologies in order to increase profitability and reduce the management costs of manufacturers or operators. Globally, more than 20 million vending machines are installed using advanced technologies to increase both profitability and customer-friendly interaction. Furthermore, rapidly growing retail business sector coupled with digital transformation is also supporting the growth of this market. For example; India is the world’s fifth-largest global destination in retail, where the retail market in India is expected to grow from an estimated USD 672 billion in 2017 to USD 1,200 billion in 2021.
However, intense competition among vendors operating in vending machine industry may face a huge hindrance to the growth of this market. An intelligent vending machine market has numerous opportunities to improve its existing technology through Internet of Things (IoT) as well as cloud-based technologies and replacing it with smart and innovative techniques to make the process more customers friendly, efficient, and time saving and these facts will offer plentiful opportunities in the coming years.
North America is expected to dominate intelligent vending machine market due to increasing retail industry, large availability of secure cashless payment options and wide industrialization of beverage vending machines. According to the study, United States of America is the country in intelligent vending machine; there are about 2.08 million vending machines operating in the U.S. Europe is the second leading region in intelligent vending machine market owing to European vending machine operators is taking efforts to provide food and beverage products through intelligent smart machine. For example; over 90 million food and drink items are dispensed from European vending machines. Italy, France, United Kingdom, Germany, Spain and the Netherlands are the 6 biggest vending markets in Europe.
North America
• U.S.
• Canada
Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe
Asia-Pacific
• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC
Latin America
• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA
Report Analysis | Details |
---|---|
Historical data | 2015 - 2020 |
Forecast Period | 2021 - 2027 |
Market Size in 2020: | USD 14.13 Billion |
Base year considered | 2020 |
Forecast Period CAGR %: |
17.29 % |
Market Size Expected in 2027: | USD 43.16 Billion |
Tables, Charts & Figures: | 175 |
Pages | 200 |
Smart Vending Machine Manufacturers: | Azkoyen Vending Systems, American Vending Machines, Bulk Vending Systems, Automated Merchandising Systems, Evoka Group, Bianchi Industry SpA, Crane Merchandising Systems, Continental Vending, Inc., Sanden Holdings Corporation, and Fuji Electric Co., Ltd., among others |
Segments Covered | By Product, By Application |
Regional Analysis | North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa |
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