Press release
Intelligent Vending Machine Market Size, is Likely to Set for Rapid Expansion in the Forecast Period 2023-2031 | Azkoyen Group, Crane Co., FAS INTERNATIONAL S.R.L.
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Vending machines are devices that dispense items in exchange for coins or tokens inserted inside them. With the use of touch-screen controls, video, fragrance, audio, gesture-based interaction, and cashless payment, an intelligent vending machine engages customers in addition to dispensing merchandise. An intelligent vending machine typically gives out things like packaged food, drinks, and tobacco goods.
Factors Influencing Market Growth
The advent of cutting-edge technologies, including voice and facial recognition, that permit communication between the machine and the user drives the global market.
The increase in demand for UI-based transactions boosts the global market growth.
The rising use of contactless transactions grew dependency on ATM cards and mobile banking, and growing digitization in payment procedures fuel the global market growth.
The increase in security problems and the ban on the sale of tobacco products in several regions may slow down the overall market growth.
The technological expansion and shifts in consumer purchasing patterns with a growing preference for self-operations are forecast to offer lucrative opportunities for the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading. The temporary closure of retail stores, shopping centers, and supermarkets during the COVID-19 pandemic has reduced consumers' spending power. The global market grew rapidly as the lockdown restrictions eased in the second half of 2020. Businesses supplied hygienic goods like masks, which increased market demand. For instance, in 2020, Fuji Electric Co., Ltd. developed a smart vending machine that dispenses hygienic items, including masks, wet tissues, and disinfectant sprays.
Regional Analysis
North America garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rise in expansions in communication technologies, increased usage of mobile payments, and faster internet connectivity. Thus, these factors drive the market growth in the region.
The Asia Pacific region is forecast to have considerable growth during the forecast period. As a result of the growing spending on infrastructural sectors, increasing spending power, and adoption of the latest communication technologies. Thus, these factors boost the market growth in the region.
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Leading Competitors
The leading prominent companies profiled in the global intelligent vending machine market are:
Azkoyen Group
Crane Co.
FAS INTERNATIONAL S.R.L.
Fuji Electric Co., Ltd.
Glory Ltd.
Canteen, Ingenico S.A.
Intel Corporation
Westomatic Vending Services Ltd.
Royal Vendors, Inc.
Digital Media Vending International LLC
Other Prominent Players
Scope of the Report
The global intelligent vending machine market segmentation focuses on Machine Type, Product Dispensed, Application, and Region.
Segmentation based on Machine Type
Free-Standing
Wall-Mounted
Segmentation based on Product Dispensed
Salty and Savory Snacks
Bakery Products
Confectionery Products
Beverages
Others
Segmentation based on Application
Retail Sites
Public Transport Hubs
Offices/Institutions
QSR (Quick Service Restaurant)
Shopping Centers
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Meta Title: Intelligent Vending Machine Market Size, Share, Insight, and Forecast 2022 to 2030
Meta Description: Global Intelligent Vending Machine Market is projected to reach US$ 45,934.3 million by the end of 2030 from US$ 19,322 million in 2021, at a CAGR of 10.1%
Meta Keywords: intelligent vending machine market Size, intelligent vending machine market share, intelligent vending machine market trend, intelligent vending machine market Forecast, intelligent vending machine market insight
Key questions answered in the global market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the market over the forecast period?
- What are the factors driving and restraining the market?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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