The Intelligent Vending Machines Market size was estimated at USD 24.4 billion in 2022 and is expected to reach USD 70.08 billion by 2030 at a CAGR of 14.1% during the forecast period of 2023-2030.
Intelligent vending machines with facial and voice recognition sensors assist users in product selection by recommending products based on their age and purchasing history. Also, interactive touchscreen display technology assists merchants in increasing earnings by interacting with customers' cell phones by displaying HD screens running interactive promos, marketing ads, and other monetizable third-party information. Moreover, as communication technology advances, vending machines can communicate with vending operators by broadcasting real-time notifications via cloud technology, lowering operational and maintenance costs. Machines can convey information such as product availability, dynamic route optimization, and increased logistical efficiencies thanks to IoT technology.
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However, rigorous government controls for the sale of junk food in public places such as schools and universities, as well as limits on the sale of hazardous products such as tobacco and cigarettes, are expected to have a detrimental influence on market growth.
MARKET DYNAMICS
DRIVERS
Technological Progress Consumer preferences are shifting toward transactions without cash.
Insights from Real-Time Data.
The incorporation of modern technology into vending machines, such as machine learning, IoT (Internet of Things), AI (Artificial Intelligence), and data analytics, has resulted in improved user experiences, inventory management, and operational efficiency. Customers are looking for more convenient and personalized buying experiences. Intelligent vending machines may provide a diverse range of items and services to meet the needs of a diverse range of consumers. The rise of digital payments and mobile wallets has increased the prevalence of cashless purchases. Customers who seek quick and easy payment methods are drawn to intelligent vending machines equipped with contactless payment alternatives. These machines may collect data on sales, client preferences, and inventory levels in real-time. This information assists firms in optimizing their product offerings, replenishment timetables, and pricing.
RESTRAIN
Costs related to the initial expenditure
Maintenance Difficulties
Product Variety Is Limited
Concerns About Security
Regulatory and legal stumbling blocks.
OPPORTUNITY
Individualization and modification Well-being and health trends are expanding their retail footprint.
Intelligent vending machines can provide personalized recommendations and promotions based on client data and interests, boosting the shopping experience. There is potential to cater to health-conscious consumers by providing healthier snack and beverage options through intelligent vending machines. Intelligent vending machines can function as mini-stores, allowing businesses to expand their retail presence without the requirement for permanent stores in every area.
CHALLENGES
Traditional retail consumer education competitors
Technological Obstacles and Concerns About Sustainability
IMPACT OF RUSSIA-UKRAINE WAR
Disruptions in the Supply Chain The dispute has the potential to disrupt global supply chains, disrupting the production and delivery of components and materials used in the creation of intelligent vending machines. This could result in production delays and increased expenditures. In conflict-affected areas, infrastructure damage might have an influence on the deployment and maintenance of intelligent vending machines. Power outages, communication breakdowns, and physical damage can all stymie their operations. Demand for localized solutions is growing. In conflict-affected areas, there may be greater demand for localized solutions that promote self-sufficiency. In locations where traditional supply networks are disrupted, intelligent vending machines can enable convenient access to crucial supplies.
IMPACT OF ONGOING RECESSION
Cost-Efficiency During a recession, firms may look for cost-effective ways to streamline processes. Intelligent vending machines can help minimize labor expenses by enabling automated sales and services. Capital Restriction Due to economic uncertainties, enterprises may have limited capital for investment. This could slow or delay the deployment of intelligent vending machine projects. Intelligent vending machines could function as an extension of e-commerce platforms, providing a physical touchpoint for online orders and pickups and appealing to consumers seeking speedy and contactless buying choices.
By Product
Beverages
Snacks
Food
Confections
Others
By Application
Manufacturing
Commercial Malls & Retail Stores
Offices
Educational Institutes
Others
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSES
In 2022, the North American region dominated the market, accounting for more than 30% of total revenue. Higher utilization of mobile payments, advancements in communication technology, and faster internet access, among other factors, all contributed to the expansion. Government regulation promoting energy conservation in nations such as the United States and Canada is hastening the deployment of these systems in the region. Intelligent vending machines typically require a one-time lump-sum investment as well as ongoing maintenance and operational fees. Organizations in the North American region have a lot of money and can easily afford to spend it on intelligent vending machines, which drives up demand in the region.
The Asia-Pacific region is predicted to be the fastest-growing market, with a CAGR of 15.6% during the projection period. In the next five years, the region will have surpassed major European countries as a key commercial center. Some of the drivers driving market expansion include increased spending on infrastructure sectors, expanding spending power, the adoption of cutting-edge communication technology, and enterprises working from offices following the pandemic.
The major key players are Crane Co, Advantech Co. Ltd., Azkoyen Group, FAS International S.p.A, Bianchi Vending Group S.p.A, Rhea Vendors Group, N&W Global Vending S.p.A, Westomatic Vending Services Ltd, Seaga, Jofemar, Sanden Corp and other players
Advantech Co. Ltd-Company Financial Analysis
RECENT DEVELOPMENT
Nestlé: In 13 March 2023, Nestlé tested refillable vending machines for Koko Krunch and Milo in Indonesia as part of its drive to develop creative solutions that reduce the need for disposable packaging. The unique devices, developed in partnership with the start-up Qyos by Algramo, will be accessible at two local merchants in Indonesia for a four- to six-month trial period.
Five Star: In 24 August 2022, Five Star Food Service paid an unknown price for the acquisition of vending machine supplier Elite Vending Company. Elite Vending is a self-contained business that serves several counties in Atlanta, Georgia. The acquisition will expand Five Star's existing operations in this region and provide the company with an additional channel of distribution.
|
Report Attributes |
Details |
| Market Size in 2022 | US$ 24.4 Bn |
| Market Size by 2030 | US$ 70.08 Bn |
| CAGR | CAGR of 14.1% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product(Beverages, Snacks, Food, Confections, Others) • By Application (Manufacturing, Commercial Malls & Retail Stores, Offices, Educational Institutes, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Crane Co, Advantech Co. Ltd., Azkoyen Group, FAS International S.p.A, Bianchi Vending Group S.p.A, Rhea Vendors Group, N&W Global Vending S.p.A, Westomatic Vending Services Ltd, Seaga, Jofemar, Sanden Corp |
| Key Drivers | • Technological Progress Consumer preferences are shifting toward transactions without cash. • Insights from Real-Time Data. |
| Market Restraints | • Costs related to the initial expenditure • Maintenance Difficulties • Product Variety Is Limited • Concerns About Security • Regulatory and legal stumbling blocks. |
The Intelligent Vending Machines Market is expected to grow at 14.1% CAGR from 2023 to 2030.
According to our analysis, the Intelligent Vending Machines Market is anticipated to reach USD 61.47 billion By 2030.
The increasing penetration of Internet of Things (IoT) and connected device technologies, as well as customers' growing preference for cashless payments, are key factors driving the intelligent vending machine market's growth.
The leading participants in the,Crane Co, Advantech Co. Ltd., Azkoyen Group, FAS International S.p.A, Bianchi Vending Group S.p.A, Rhea Vendors Group.
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TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Intelligent Vending Machines Market Segmentation, By Product
8.1 Beverages
8.2 Snacks
8.3 Food
8.4 Confections
8.5 Others
9. Intelligent Vending Machines Market Segmentation, By Application
9.1 Manufacturing
9.2 Commercial Malls & Retail Stores
9.3 Offices
9.4 Educational Institutes
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Intelligent Vending Machines Market, by Country
10.2.2North America Intelligent Vending Machines Market, By Product
10.2.3 North America Intelligent Vending Machines Market, By Application
10.2.4 USA10.2.4.1 USA Intelligent Vending Machines Market, By Product
10.2.4.2 USA Intelligent Vending Machines Market, By Application
10.2.5 Canada10.2.5.1 Canada Intelligent Vending Machines Market, By Product
10.2.5.2 Canada Intelligent Vending Machines Market, By Application
10.2.6 Mexico
10.2.6.1 Mexico Intelligent Vending Machines Market By Product
10.2.6.2 Mexico Intelligent Vending Machines Market By Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Intelligent Vending Machines Market by Country
10.3.1.2 Eastern Europe Intelligent Vending Machines Market By Product
10.3.1.3 Eastern Europe Intelligent Vending Machines Market By Application
10.3.1.4 Poland
10.3.1.4.1 Poland Intelligent Vending Machines Market By Product
10.3.1.4.2 Poland Intelligent Vending Machines Market By Application
10.3.1.5 Romania
10.3.1.5.1 Romania Intelligent Vending Machines Market By Product
10.3.1.5.2 Romania Intelligent Vending Machines Market By Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Intelligent Vending Machines Market By Product
10.3.1.6.2 Hungary Intelligent Vending Machines Market By Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Intelligent Vending Machines Market By Product
10.3.1.7.2 Turkey Intelligent Vending Machines Market By Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Intelligent Vending Machines Market By Product
10.3.1.8.2 Rest of Eastern Europe Intelligent Vending Machines Market By Application
10.3.2 Western Europe
10.3.2.1 Western Europe Intelligent Vending Machines Market by Country
10.3.2.2 Western Europe Intelligent Vending Machines Market By Product
10.3.2.3 Western Europe Intelligent Vending Machines Market By Application
10.3.2.4 Germany
10.3.2.4.1 Germany Intelligent Vending Machines Market By Product
10.3.2.4.2 Germany Intelligent Vending Machines Market By Application
10.3.2.5 France
10.3.2.5.1 France Intelligent Vending Machines Market By Product
10.3.2.5.2 France Intelligent Vending Machines Market By Application
10.3.2.6 UK
10.3.2.6.1 UK Intelligent Vending Machines Market By Product
10.3.2.6.2 UK Intelligent Vending Machines Market By Application
10.3.2.7 Italy
10.3.2.7.1 Italy Intelligent Vending Machines Market By Product
10.3.2.7.2 Italy Intelligent Vending Machines Market By Application
10.3.2.8 Spain
10.3.2.8.1 Spain Intelligent Vending Machines Market By Product
10.3.2.8.2 Spain Intelligent Vending Machines Market By Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Intelligent Vending Machines Market By Product
10.3.2.9.2 Netherlands Intelligent Vending Machines Market By Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Intelligent Vending Machines Market By Product
10.3.2.10.2 Switzerland Intelligent Vending Machines Market By Application
10.3.2.11 Austria
10.3.2.11.1 Austria Intelligent Vending Machines Market By Product
10.3.2.11.2 Austria Intelligent Vending Machines Market By Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Intelligent Vending Machines Market By Product
10.3.2.12.2 Rest of Western Europe Intelligent Vending Machines Market By Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Intelligent Vending Machines Market by Country
10.4.2 Asia Pacific Intelligent Vending Machines Market By Product
10.4.3 Asia Pacific Intelligent Vending Machines Market By Application
10.4.4 China
10.4.4.1 China Intelligent Vending Machines Market By Product
10.4.4.2 China Intelligent Vending Machines Market By Application
10.4.5 India
10.4.5.1 India Intelligent Vending Machines Market By Product
10.4.5.2 India Intelligent Vending Machines Market By Application
10.4.6 Japan
10.4.6.1 Japan Intelligent Vending Machines Market By Product
10.4.6.2 Japan Intelligent Vending Machines Market By Application
10.4.7 South Korea
10.4.7.1 South Korea Intelligent Vending Machines Market By Product
10.4.7.2 South Korea Intelligent Vending Machines Market By Application
10.4.8 Vietnam
10.4.8.1 Vietnam Intelligent Vending Machines Market By Product
10.4.8.2 Vietnam Intelligent Vending Machines Market By Application
10.4.9 Singapore
10.4.9.1 Singapore Intelligent Vending Machines Market By Product
10.4.9.2 Singapore Intelligent Vending Machines Market By Application
10.4.10 Australia
10.4.10.1 Australia Intelligent Vending Machines Market By Product
10.4.10.2 Australia Intelligent Vending Machines Market By Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Intelligent Vending Machines Market By Product
10.4.11.2 Rest of Asia-Pacific Intelligent Vending Machines Market By Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Intelligent Vending Machines Market by Country
10.5.1.2 Middle East Intelligent Vending Machines Market By Product
10.5.1.3 Middle East Intelligent Vending Machines Market By Application
10.5.1.4 UAE
10.5.1.4.1 UAE Intelligent Vending Machines Market By Product
10.5.1.4.2 UAE Intelligent Vending Machines Market By Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Intelligent Vending Machines Market By Product
10.5.1.5.2 Egypt Intelligent Vending Machines Market By Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Intelligent Vending Machines Market By Product
10.5.1.6.2 Saudi Arabia Intelligent Vending Machines Market By Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Intelligent Vending Machines Market By Product
10.5.1.7.2 Qatar Intelligent Vending Machines Market By Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Intelligent Vending Machines Market By Product
10.5.1.8.2 Rest of Middle East Intelligent Vending Machines Market By Application
10.5.2 Africa
10.5.2.1 Africa Intelligent Vending Machines Market by Country
10.5.2.2 Africa Intelligent Vending Machines Market By Product
10.5.2.3 Africa Intelligent Vending Machines Market By Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Intelligent Vending Machines Market By Product
10.5.2.4.2 Nigeria Intelligent Vending Machines Market By Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Intelligent Vending Machines Market By Product
10.5.2.5.2 South Africa Intelligent Vending Machines Market By Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Intelligent Vending Machines Market By Product
10.5.2.6.2 Rest of Africa Intelligent Vending Machines Market By Application
10.6 Latin America
10.6.1 Latin America Intelligent Vending Machines Market by Country
10.6.2 Latin America Intelligent Vending Machines Market By Product
10.6.3 Latin America Intelligent Vending Machines Market By Application
10.6.4 Brazil
10.6.4.1 Brazil Intelligent Vending Machines Market By Product
10.6.4.2 Brazil Intelligent Vending Machines Market By Application
10.6.5 Argentina
10.6.5.1 Argentina Intelligent Vending Machines Market By Product
10.6.5.2 Argentina Intelligent Vending Machines Market By Application
10.6.6 Colombia
10.6.6.1 Colombia Intelligent Vending Machines Market By Product
10.6.6.2 Colombia Intelligent Vending Machines Market By Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Intelligent Vending Machines Market By Product
10.6.7.2 Rest of Latin America Intelligent Vending Machines Market By Application
11 Company Profile
11.1 Crane Co.
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Advantech Co. Ltd.
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 2 Azkoyen Group
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 FAS International S.p.A
11.4.1 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Bianchi Vending Group S.p.A
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Rhea Vendors Group
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 N&W Global Vending S.p.A
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Westomatic Vending Services Ltd
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Seaga.
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Jofemar, Sanden Corp
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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