REPORT HIGHLIGHT
Intelligent Vending Machine Market size was valued at USD 6,690.1 Million in 2022, expanding at a CAGR of 14.8% from 2023 to 2030.
The intelligent vending machines market is expected to develop during the estimated period due to the rising adoption of the IoT (Internet of Things) and linked device technologies. This market is growing as a result of consumers using contactless and cashless payments more frequently to buy food and beverages. Over the forecast period, the market for intelligent vending machines is anticipated to benefit from the latest technologies, including contactless mobile payments, face and voice recognition, Near-field communication (NFC), telemetry, and government mandates to display nutrition information and product warnings.
Intelligent Vending Machine Market COVID Impact
The COVID-19 had a negative influence on market growth in 2020 and into the middle of 2021 because it disrupted the supply chain and decreased end-user demand because of the work-from-home paradigm. However, as the virus's intensity decreased, various end-use industries could be seen returning to work, which ultimately enhanced demand for the market. Traditional vending machines only accept cash and coins as payment and have a dispensing device. Intelligent vending machines, on the other hand, are improved versions of conventional vending machines that incorporate basic functionalities like LCD/touchscreen, cashless systems, telemetry systems, voice recognition, digital signage, and enterprise resource planning (ERP) systems, among others.
However, it is predicted that stringent government prohibitions on the sale of dangerous goods like nicotine and cigarettes and junk food in public places like schools and colleges will have a detrimental impact on the market's expansion. Additionally, the COVID-19 pandemic-induced economic downturn and expensive technical expenses are some of the problems preventing operators from modernising conventional vending machines.
Intelligent Vending Machine Market- Key Insights:
As per the analysis shared by our research analyst, the global Intelligent Vending Machine market is estimated to grow annually at a CAGR of around 14.8% over the forecast period (2023-2030)
The Beverages segment is projected to grow at a significant rate:
- Based on application segmentation, manufacturing was predicted to show maximum market share in the year 2022
- On the basis of region, North America was the leading revenue generator in 2022
Intelligent Vending Machine Market Regional Analysis:
- In terms of region, in 2022, the market was dominated by the North American region. The increase is due, among other things, to more people using mobile payments, advancements in communication technology, and better internet connectivity. The region's adoption of these systems is accelerating due to strict government regulation in nations like the U.S. and Canada that promotes energy conservation. The initial expenditure for intelligent vending machines is typically a single sum, and ongoing maintenance and operating expenses are also incurred. The need for intelligent vending machines in the North American region is further fueled by the considerable purchasing power of businesses operating there.
- Asia Pacific is anticipated to become the area with the quickest growth. Within the next five years, the region will likely surpass major European countries as a key business centre. A few of the variables influencing the market growth are increased spending power, adoption of cutting-edge communication technologies, and businesses functioning from offices following the pandemic.
Intelligent Vending Machine Market Competitive Insights:
The increased adoption of various sensors in new cars is the main factor fueling the expansion of the U.S. regional level sensor market. The TEREAD Act, which requires pressure sensors for every vehicle to alert the driver of underinflated tyres, is anticipated to increase industry demand in the U.S.
Recent Developments:
Sodexo, a French company, in January 2021 purchased Accent Food, a apidly expanding regional convenience services company. Sodexo hopes to improve its takeaway, delivery, convenience store concepts through this acquisition. It also hopes to expand its multi-channel solutions, which already include click and collect, self-service pantries, office refreshments, micro-markets, and smart vending machines.
Key features of the study:
- This proposed research study on Intelligent Vending Machine market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Intelligent Vending Machine market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Intelligent Vending Machine market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Intelligent Vending Machine market
- Impact of COVID-19 on Intelligent Vending Machine market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Intelligent Vending Machine market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Intelligent Vending Machine market, we have also included competitive landscape and key innovator analysis for the Intelligent Vending Machine market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Intelligent Vending Machine market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Intelligent Vending Machine market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL INTELLIGENT VENDING MACHINE MARKET KEY PLAYERS
- Bianchi Industry Spa
- Vendon BV
- Evoca Group
- Selecta Group
- Coca-Cola Company
- PepsiCo Inc.
- Keurig Dr Pepper Inc.
- Fuji Electric Co., Ltd.
- Sanden Holdings Corporation
- Azkoyen Group
- Crane Co.
- Seaga Manufacturing Inc.
- FAS International S.p.A.
- Sielaff GmbH & Co. KG
- Glory Ltd.
GLOBAL INTELLIGENT VENDING MACHINE MARKET, BY PRODUCT TYPE
- Beverages
- Snacks
- Food
- Confections
- Others
GLOBAL INTELLIGENT VENDING MACHINE MARKET, BY APPLICATION
- Manufacturing
- Commercial Malls & Retail Stores
- Offices
- Educational Institutes
GLOBAL INTELLIGENT VENDING MACHINE MARKET, BY TECHNOLOGY
- Touchscreen Vending Machines
- Facial Recognition Vending Machines
- Internet of Things (IoT) Connected Vending Machines
- Cashless Payment Vending Machines
- Mobile App-Enabled Vending Machines
- Others
GLOBAL INTELLIGENT VENDING MACHINE MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA