Intelligent Vending Machines Market Outlook
According to a new report by Expert Market Research titled, “Global IIntelligent Vending Machines Market Share, Size, Analysis, Report and Forecast 2023-2028″, the intelligent vending machines market reached a value of USD 22.81 billion in 2022. Aided by the rising need for convenient retail solutions and the broadening applications of intelligent vending machines across diverse sectors, the market is projected to further grow at a CAGR of 14.40% between 2023 and 2028 to reach a value of USD 50.44 billion by 2028.
Intelligent vending machines are automated self-service kiosks that dispense a wide range of products, including snacks, beverages, and other consumer goods. They offer various benefits, such as improved user experience, real-time inventory tracking, and energy efficiency. These machines also feature advanced technologies like touch screen controls, cashless payment systems, and face recognition, increasing their appeal among consumers and businesses alike.
The increasing consumer demand for quick and convenient shopping experiences is a primary driver for the global intelligent vending machines market growth. With the expanding urbanisation and hectic lifestyles, there has been a significant shift towards self-service retail solutions, which has resulted in a growing demand for intelligent vending machines. Furthermore, the rising trend of digitisation and cashless transactions has amplified the popularity of these machines, given their compatibility with digital payment methods.
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Intelligent vending machines’ diverse applications across different industries significantly contribute to the intelligent vending machines market expansion. In the retail sector, these machines provide round-the-clock access to products and enable efficient inventory management. In corporate environments, they serve as a convenient solution for employees to access snacks, beverages, and office supplies. The hospitality sector leverages these machines for providing guests with essential items without staff intervention. Hence, the increasing adoption of the product in these sectors is invigorating the intelligent vending machines market growth. Moreover, these machines find usage in public transportation hubs, offering travellers quick access to food, drinks, and travel essentials.
Additionally, the increasing demand for contactless retail solutions due to public health considerations has led to a heightened focus on intelligent vending machines. With the ongoing global health crisis, touchless shopping has gained significant importance, resulting in intelligent vending machines emerging as a critical component in the retail sector’s evolution. These machines’ advanced features, such as face recognition and touchless operation, offer a safer, more hygienic retail experience, boosting the relevance and expansion of intelligent vending machines market.
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Intelligent Vending Machines Market Segmentation
The market can be divided based on machine type, product, application, and region.
Market Breakup by
- Free-Standing Vending Machine
- Wall-Mounted Vending Machine
Market Breakup by Product
Market Breakup by Application
- Commercial Malls and Retail Stores
- Educational Institutes
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global intelligent vending machines companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Fuji Electric Co., Ltd.
- Azkoyen, S.A.
- Bianchi Industry S.p.A. Group
- Crane Payment Innovations Inc.
- Rhea Vendors Group S.p.A.
- Westomatic Vending Services Ltd
- SandenVendo GmbH
- Seaga Manufacturing, Inc.
- Fas International S.R.L.
- Sielaff GmbH & Co. KG
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