The demand for intelligent vending machines is expected to reach US$ 10,610.2 million in 2022 and is projected to increase at a CAGR of 13.4% to US$ 37,286.6 million from 2022 to 2032. Growth is attributed to the omni-channel retail sector’s increasing adoption of intelligent vending machines.
With the installation of touch-enabled screens and remote management software, the vending industry is undergoing a radical transformation that goes far beyond simply dispensing food and beverages. An interactive LCD screen and large tabletop office vending machines with enough surface area to support 6 to 14 inch LCD screens, if possible, are characteristics of intelligent vending machines.
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Intelligent Vending Machines Market: Market Dynamics
Increased government regulations, increased user interactivity, mobile payment options, reduced operating costs, adoption of computing technology, remote management, payment flexibility, improved energy efficiency, software flexibility and adoption of IoT in retail vending, etc. are the drivers of Intelligent vending machines market
Growing application of strict rules prohibiting sales of junk food increased rental space costs for the installation of these machines, low operating margins and security issues are the restraints affecting the growth of intelligent vending machines market.
Cashless payment using near-field communications technology as there is increasing consumer preference toward cashless payments and adoption of LCD displays and telemetry systems is the latest trend in intelligent vending machines market.
Market Competition
Some of the key participants present in the global Intelligent Vending Machines market include
- Crane Co.,
- Canteen Vending Services, Inc.,
- Advantech Co. Ltd.,
- Selecta Group AG,
- Bianchi Vending Group S.p.A,
- Cantaloupe Systems Inc.,
- Intel Corporation,
- Glory Global Solutions Inc.,
- Azkoyen Group,
- USA Technologies Inc.,
- Rhea Vendors Group,
- MEI Inc. and
- Coin Acceptors Inc., among others.
Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as Crane Co., Canteen Vending Services, Inc., Advantech Co. Ltd., Selecta Group AG, and Bianchi Vending Group S.p.A account for a considerable market size, several regional level players are also operating across key growth regions, particularly in North America.
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Intelligent Vending Machines Market: Regional Outlook
Western Europe is expected to be the dominant player in intelligent vending machines market followed by North America, Asia-Pacific, Japan, and MEA regions. The Asia-Pacific region is projected to emerge as the fastest rising market due to the increased demand in public transport applications in developing countries such as India and China in the forecast period.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology, and applications.
Key Segments Profiled in the Intelligent Vending Machines Industry Survey
Intelligent Vending Machines Market By Type:
- Intelligent Vending Machines for Beverages
- Intelligent Vending Machines for Snacks
- Intelligent Vending Machines for Commodities
- Others
Intelligent Vending Machines Market By Application:
- Intelligent Vending Machines for Fast food restaurant
- Intelligent Vending Machines for Shopping malls
- Intelligent Vending Machines for Retail stores
- Intelligent Vending Machines for Public transport
- Intelligent Vending Machines for Airport
- Intelligent Vending Machines for Hospitals
- Intelligent Vending Machines for Hotels
- Intelligent Vending Machines for Railway station
- Intelligent Vending Machines for Schools
- Intelligent Vending Machines for Business center
Intelligent Vending Machines Market By Technology:
- Intelligent Vending Machines with Cashless systems
- Intelligent Vending Machines with Telemetry systems
- Intelligent Vending Machines with Voice recognition
Intelligent Vending Machines Market By Region:
- North America Intelligent Vending Machines Market
- Latin America Intelligent Vending Machines Market
- Europe Intelligent Vending Machines Market
- Asia Pacific Intelligent Vending Machines Market
- Middle East & Africa Intelligent Vending Machines Market
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