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Vending Machine Market Size | Valuates Reports
Vending Machine Market SizeIn 2020, the global Vending Machine market size was US$ 6556.9 million and it is expected to reach US$ 8062.5 million by the end of 2027, with a CAGR of 2.9% during 2021-2027.
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Vending Machine Market Share
The key manufacturers of the global Vending Machine market include Fuji Electric, Crane, SandenVendo, and N&W Global Vending, with about 40% market shares.
In 2019, North America held the largest Vending Machine Market share. This trend is expected to continue over the forecast period as well. This dominance of North America is attributed to the popularity of vending machines, producers and distributors' concentration, the involvement of technology-conscious buyers, and the utility of vending machines.
From 2019 to 2025, Asia Pacific is expected to witness the highest growth during the forecast period. In the regional market, Japan is the most lucrative nation. Major factors contributing to the APAC's rising demand are the demand from the region's business and corporate sectors.
Vending Machine Market Trends
Increased demand for food vending machines in offices/institutions is expected to fuel the Vending Machine Market size during the forecast period. In addition, the rise in the consumption of convenience food items and the adoption of smart customer service technologies in several food categories are expected to drive the growth of the vending machine market size.
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Vending Machine Market By Type
• Food
• Cigarette
• Ticket
• Beverage Drink
• Other Goods
Vending Machine Market By Application
• Factory
• Office Building
• Public Places
• School
• Others
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