Intelligent Vending Machines Market Study for 2022 to 2030 providing information on Key Players, Growth Drivers and Industry challenges

The Global Intelligent Vending Machines valued at US $23.60 Billion in 2022 is anticipated to reach a value of US $64.08 Billion in 2030, growing at a CAGR of 13.3%.

Over the projection period, the industry's growth is anticipated to be driven by the spike in demand for self-service technology across Europe and the North American area, which is caused by advancements in automation technology and the growing use of contactless vending machines. Technologies including LCD/touchscreen, gesture-based interface, cashless systems, telemetry systems, speech recognition, digital signage, and enterprise resource planning (ERP) systems, among others, are integrated into intelligent vending machines.

With the use of a number of simple payment options, including debit or credit cards, mobile wallets, and QR codes, among others, these integrated devices make it possible for customers to self-order. Intelligent vending machines can communicate with customers thanks to the integration of cutting-edge technology like IoT, cloud, smart sensors, voice and facial recognition, central price control, and real-time sales data analytics. By evaluating and responding to consumer behaviour and offering a greater visual experience with interactive marketing promotions, these sophisticated features give intelligence to the intelligent vending machines.

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The intelligent vending machine has dynamic features including effective stock control, proactive maintenance, intelligent payment alternatives, and numerous payment ways, among others. One of the key drivers of the intelligent vending machine market growth is the rising desire for cashless payments among consumers following the COVID-19 epidemic. The adoption of intelligent vending machines in manufacturing, retail malls, and office buildings has been further facilitated by the advancement of mobile payment technologies due to technologies like Near-field Communication (NFC), which has made the payment process faster, easier, and contactless. This has significantly reduced the costs associated with cash management and reduced the risk of theft and vandalism.

The dynamics of the market for intelligent vending machines have drastically changed as a result of the COVID-19 epidemic. In order to control the spread of COVID-19, offices, shopping malls, and retail establishments were temporarily closed. This had a short-term detrimental impact on the market. However, with the resumption of manufacturing and commercial office space, the sector experienced tremendous development.

Key Trends of Global Intelligent Vending Machines:

Increasing adoption of the Internet of Things (IoT)

The increasing adoption of the Internet of Things (IoT) and connected device technologies is anticipated to support the growth of the intelligent vending machines market during the forecast period. Consumers' increasing adoption of cashless and contactless payments to make food & beverages purchases is further driving the market growth.
Segmental Analysis of Global Intelligent Vending Machines:

Based on Product
o Beverages
o Snacks
o Food
o Confections
o Others

The snacks category is estimated to emerge as the fastest-growing product sub-segment, registering a CAGR of 14.9% during the forecast period. This is attributed to the increasing focus on healthy products, longer working hours, and innovative new product launches, among others.

Based on Application
o Manufacturing
o Commercial Malls and Retail Stores
o Offices
o Educational Institutes
o Others

Offices are the fastest-growing segment of the intelligent vending machine market growing at a CAGR of 14.8% during the forecast period. The adoption of intelligent vending machines in avenues such as commercial offices and industrial sectors is gaining traction in recent times due to the growing preference for contactless transactions and ease of use in vending products.

Competitive Landscape:
Crane Co., Advantech Co. Ltd., Bianchi, Vending Group S.p.A, Azkoyen Group, FAS International S.p.A., N&W Global Vending S.p.A., Rhea Vendors Group, Westomatic Vending Services Ltd., Sanden Corp., Seaga, Jofemar and Royal Vendors.

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