growing demand for cashless vending machines is driving the Intelligent Vending Machine Market

Latest News:- Intelligent Vending Machine Market: Beverage is expected to lead the Product segment during 2024-2028

Technavio analyzes that the Intelligent Vending Machine Market is expected to grow at a CAGR of 29.82% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 27386.7 million.There are various factors that contribute to the growth of the market. The retail sector is experiencing a significant transformation with the integration of intelligent vending machines. These advanced machines are revolutionizing the way consumers make purchases, offering convenience and personalized experiences. Equipped with features such as contactless payment, real-time inventory management, and product recommendations, intelligent vending machines are becoming an integral part of modern retail environments. The market for these machines is expected to grow substantially due to their ability to streamline operations, enhance customer engagement, and provide round-the-clock availability.

The beverage segment dominated the global intelligent vending machine market in 2023, accounting for the largest market share. This trend is expected to persist throughout the forecast period. Notably, countries such as Spain, Germany, and the UK have reported substantial sales of beverages, particularly alcoholic ones like beer. This increasing demand for beverages has driven retailers to prioritize the installation of vending machines in their stores, thereby fueling market growth in the beverage segment. 

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Intelligent Vending Machine Market Segmentation

• Product
  • Beverage
  • Food
  • Tobacco
• Installation Sites
  • Retail sites
  • Public transport hubs
  • Offices
• Geography
  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• Advantech Co. Ltd.
• Automated Merchandising Systems Inc.
• Azkoyen SA
• Bianchi Industry SpA
• Compass Group Plc
• Crane Holdings Co.
• Digital Media Vending International LLC
• Evoca Group
• Fas International Srl
• Fastcorp Vending LLC
• Furukawa Electric Co. Ltd.
• Rhea Vendors Group Spa
• Royal Vendors Inc.
• Seaga Manufacturing Inc.
• Selecta Group BV
• Shanghai Linhan Information Technology Co. Ltd.
• Silkron Technology Sdn Bhd
• The Wittern Group Inc.
• Vendors Exchange International Inc.
• Westomatic Vending Services Ltd.

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Research Analysis Overview

The Intelligent Vending Machine market is experiencing significant growth due to various factors, including urbanization, lifestyle patterns, and regulatory encouragement. Initial investment expenditures for intelligent vending machines can be high, but the benefits of real-time inventory management, monitoring sensors, and networking technologies make up for it. Government programs and regulatory encouragement for eco-friendly features and sustainability are also driving the market's growth. Consumers' increasing preference for cashless transactions, rapid digitization, mobile banking, and ATM cards have made immediate gratification a priority. Intelligent vending machines cater to this demand with UI-based transactions, gesture-based interaction, and a wide range of products such as tobacco products, beverages, packaged food, and more. Environmental concerns are also being addressed with eco-friendly features, and some machines even offer scent, audio, video, and touch-screen controls for enhanced customer engagement. Overall, the Intelligent Vending Machine market is poised for continued growth in the coming years.

Market Research Overview

The Intelligent Vending Machine Market is a segment of the expansive global electrical components and equipment market. This market encompasses businesses involved in the production of electrical components and equipment, including water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Moreover, rental and leasing of electrical components and equipment to industrial, commercial, and residential sectors is also taken into account when estimating the market size in this sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
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