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[179+ Pages Research Report] Global Smart Vending Machine Market to surpass USD 20.21 billion by 2030 from USD 7.95 billion in 2020 at a CAGR of 16.7% in the coming years, i.e., 2021-30.
Product Overview
A vending machine is a machine that distributes objects from its inventory in exchange for coins or tokens inserted into it. A smart vending machine is an automated vending machine that engages customers with touch-screen controls, video, audio, fragrance, gesture-based communication, and cashless payment in addition to distributing products. An intelligent vending machine typically dispenses things like frozen food, beverages, and tobacco products.
Market Highlights
Global Smart Vending Machine market is expected to project a notable CAGR of 16.7% in 2030.
The global intelligent vending machine market is driven by an increase in demand for UI-based transactions, which is balanced by an increase in the use of cashless transactions, the trend of instant gratification, an increase in reliance on ATM cards and mobile banking, rapid digitization, and internet penetration around the world.
Global Smart Vending Machine Market: Segments
Packaged drinks segment to grow with the highest CAGR during 2020-30
Global Smart Vending Machine market is segmented by type into Hot drinks, Snacks, Packaged drinks, and Others. Packaged drinks segment held the largest market share in the year 2020 as a result of the growing focus on safe vending Packaged beverages such as soda, water, milk, flavored waters, and energy drinks, among others, make up the majority of this category. Consumers are still on the lookout for new packaged drinks that are low in calories and fit into their healthier lifestyles. The availability of packaged beverages in tetra packs and multi-layered aseptic cartons is increasing packaged drink adoption.
QSRs, shopping malls, and retail stores segment to grow with the highest CAGR during 2020-30
Global Smart Vending Machine market is divided by application into QSR, shopping malls, and retail stores, Offices, Public transport, and Others. Over the forecast period, the QSRs, shopping malls, and retail stores segment is projected to expand at the fastest pace. During the forecast era, QSRs, shopping malls, and retail stores are expected to dominate the application category. Although, the use of vending machines in places like offices is gaining popularity. The use of these devices in office buildings has a number of advantages, including room savings, cost-effectiveness, and cleanliness.
Market Dynamics
Drivers
Shifting Tastes and Increase in Tourism and Public Transportation
The shifting tastes, proclivities, and curiosity of shoppers drive the evolution of the intelligent machines industry. Intelligent vending machine manufacturers have set their sights on new forms of machine-human interaction. As a result, new gesture-based technology, touch screen controls, video technologies, and a cashless payment mechanism have been introduced. They're also interested in enhancing the overall dispensing experience, with Smart Vending Machines being an increasingly popular platform for product promotion. To improve commuters' travel experiences, smart vending machines are being installed in public transportation such as buses and trains. The Smart Vending Machines Market is benefiting from an increase in tourism and commuting choices thanks to public transportation.
Consumers Growing Preference for Cashless Payments and Reduced Operating Cost
Consumers' growing preference for cashless payments is also contributing to the industry's rapid expansion. Cashless, near-field communication (NFC), and mobile payment protocols are expected to have a positive effect on the industry. Face and voice recognition, for example, are being used in dispensing systems as a result of technological advancements. Users can benefit from machines that have face and voice recognition sensors because they can recommend items based on their age and gender. Vendors are focusing their efforts on deploying interactive dispensing systems in order to increase revenue through advertisements and the display of other information and news. Furthermore, since the devices can be operated from afar, they help to reduce operating costs by removing the need for a computer manager's interference.
Restraint
Government Regulations and Expensive Production
Growing regulations governing the selling of snack food in public places like schools, as well as the prohibition of potentially dangerous confectionery items like cigarettes and tobacco, are expected to stifle market growth. Furthermore, the production and implementation of these devices are both expensive, which has an effect on vendor interest.
Global Smart Vending Machine Market: Key Players
Continental Vending, Inc.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Sanden Holdings Corporation
Azkoyen Vending Systems
American Vending Machines
Bulk Vending Systems
Automated Merchandising Systems
Evoka Group, Bianchi Industry SpA
Crane Merchandising Systems
Other Prominent Players
Global Smart Vending Machine Market: Regions
Global Smart Vending Machine market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa.
Global Smart Vending Machine in North America held the largest market share in the year 2020 as a result of an increase in demand for self-service solutions in retail outlets to simplify the sales process Supermarkets, department stores, shopping centers, and other retail outlets in the United States and Canada have seen the rapid implementation of these devices across a variety of application areas. These systems' technological advances and developments help to automate business processes in their application segments. Furthermore, favorable policies and a desire for better customer service would boost regional market demand.
Global Smart Vending Machine Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Smart Vending Machine Market report also contains analysis on:
Smart Vending Machine Market Segments:
By Type
Hot drinks
Snacks
Packaged drinks
Others
By Application
QSR, shopping malls, and retail stores
Offices
Public transport
Others
Smart Vending Machine Market Dynamics
Smart Vending Machine Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Smart Vending Machine Market Report Scope and Segmentation
Frequently Asked Questions
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