Intelligent Vending Machine Market worth USD 58,441.4 Mn by 2030

According to the Market Statsville Group (MSG), the global intelligent vending machine market size is expected to grow from USD 19,322 million in 2021 to USD 58,441.4 million by 2030, at a CAGR of 10.1% during the forecast period (2022-2030). Increasing demand for UI-based transactions is driving the global intelligent vending machine market. Moreover, an increase in the use of contactless transactions increased dependency on ATM cards and mobile banking, and rapid digitization in payment procedures, are some factors augmenting the global market growth. This technique is primarily being used in industrialized countries. The intelligent vending machine business is still in its nascent stage worldwide, with a major proportion in developed nations. Moreover, the technological development and changes in consumer purchasing patterns with increasing preference for self-operations are projected to pave the path for significant future growth.

Global Intelligent Vending Machine Market Definition

A vending machine dispenses things from its inventory in exchange for cash or tokens. An intelligent vending machine is a type of vending machine that uses touch-screen controls, video, audio, gesture-based interaction, and cashless payment to dispense commodities and engage customers. Typical commodities dispensed by an intelligent vending machine include packaged foods, beverages, and tobacco products, among others.

COVID-19 Impact on the Global Intelligent Vending Machine Market

The COVID-19 pandemic had a temporary detrimental influence on the industry, and sales fell slightly in the first half of 2020 due to government-imposed lockdown measures. Customers' purchasing power has been harmed as a result of the temporary closure of retail outlets, shopping malls, and supermarkets during the COVID-19 pandemic. With the relaxation of lockdown measures in the second half of 2020, the market gained traction. Companies provided hygienic items such as masks, which fueled market demand. For instance, Fuji Electric Co., Ltd. created an intelligent vending machine in 2020 that delivers hygienic supplies like masks, wet tissues, and disinfectant sprays.

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Scope of the Global Intelligent Vending Machine Market

The study categorizes the intelligent vending machine market based on product dispensed, machine type, and application at the regional and global levels.

By Machine Type (Revenue, USD Million, 2017-2030)

• Free-Standing
• Wall-Mounted

By Product Dispensed (Revenue, USD Million, 2017-2030)

• Salty and Savory Snacks
• Bakery Products
• Confectionery Products
• Beverages
• Others

By Application (Revenue, USD Million, 2017-2030)

• Retail Sites
• Public Transport Hubs
• Offices/Institutions
• QSR (Quick Service Restaurant)
• Shopping Centers
• Others

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By Region (Revenue, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Beverages segment is projected to account for the largest market share, by application

In 2021, the beverages segment accounted for the largest market share in the global intelligent vending machine market. The strong beverage sales in nations, such as Spain, Germany, and the United Kingdom have contributed to the segmental growth. Owing to a large number of visits of individuals in retail locations is another factor leading to an increase in the engagement with end customers. As a result, the number of people using intelligent vending machines at these locations is considerably high. This increases the utility and demand for these devices, resulting in more deployed units at such locations globally.

North America accounts for the highest CAGR during the forecast period

Based on the regional analysis, the global intelligent vending machine market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America held the major share, in terms of revenue, in the global market in 2021 and is expected to retain its position by exhibiting a considerable CAGR during the forecast period. The popularity of vending machines, the concentration of manufacturers and retailers, technology-savvy buyers, and the usability of vending machines are certain factors contributing to the intelligent vending machine market's expansion in North America over the forecast period.

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Global Intelligent Vending Machine Market Players

The global intelligent vending machine market is moderately competitive, with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major players 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

Article source: https://article-realm.com/article/Finance/25064-Intelligent-Vending-Machine-Market-worth-USD-58-441-4-Mn-by-2030.html