Technology Advancements Leading to Consumer Convenience to Drive Strong Growth in the Global Vending Machines Market

Worldwide installed base of Vending Machines is projected to reach 31.7 million units by 2025, driven by expanding urban population looking for convenience and variety in product choice; advancements in technology and payment options; micro-market vending; favorable trends in food consumption leading to retailing infrastructure; and advent of smart and connected vending machines.

Vending Machines (VMs), designed to dispense consumer products and other goods and services, are commonly used in the automatic retailing market as well as in public buildings, hospitals, gas stations and airports. These machines have witnessed notable evolution over the years and now feature interactive displays, telemetry systems, cashless payment options, face recognition systems, and ID card identification providing convenience to consumer and service providers, ushering an era of intelligent vending solutions. Vending machines have been witnessing increasing installations across both developed and developing countries over the last several years, and future growth is also likely to be driven by rapid urbanization and increasing disposable incomes. The decent growth of the market is also attributed to ability of vending machines to reduce dependence on retail outlets; ensure uninterrupted supply of goods; and help companies lower operational cost, reduce downtime & labor cost, and strengthen their pricing power.

Increasing range of products including gold bars, jewelry, tickets, perfumes, ink injectors, and stationary is likely to provide new growth opportunities in the coming years. In addition, increasing deployment of vending machines in commercial and industrial sectors for daily use products and food and beverages is expected to fuel market demand. Usage of vending machines in the industrial sector allows optimum allocation of engineering products for enhanced productivity. Moreover, their use in various public places, railway stations and airports for dispensing products like tissues and perfumes is anticipated to further propel the market. Several companies are introducing next-generation solutions in line with stringent government regulations. For instance, the use of biometrics technology for self-service products is slated to ensure safe and secure transactions. The quest to make vending machines smarter to improve inventory management and enhance user experience is driving vendors to offer advanced vending solutions that turn standard vending machines into smart retail platforms with inbuilt sensors. These platforms use cloud-based services to enable operators collect customer data through sensors intended to capture vending machines’ inventory, key performance indicators (KPIs), and consumer preferences and purchasing patterns.

As stated by the new market research report on Vending Machines, the United States represents the single largest market worldwide in terms of installed base. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 4.9% over the analysis period. Growth in the region is led by increasing urbanization, rise in disposable incomes, rising middle class consumerism, and changing lifestyle of working class. The emergence of the newly empowered middle class in Asia-Pacific with spending power at par with developed countries is also driving future growth in the market.

Key players in the market include Azkoyen Group, Crane Co., Crane Merchandising Systems Ltd., Fuji Electric Co., Ltd., Glory Ltd., Maas International Group, Royal Vendors, Inc., Sanden Holdings Corp., SandenVendo America, Inc., Seaga Manufacturing, Inc., Vendors Exchange International, Westomatic Vending Services Ltd., among others.

The research report titled “Vending Machines - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in terms of installed based and revenues generated from sale of products through vending machines for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). The report provides market estimates and projections in terms of installed base for product segments - Beverage Vending Machines, Food Vending Machines, and Other Vending Machines. The report also provides market estimates and projections in terms of revenue generated from sale of products through vending machines for product segments - Beverage, Food, and Other Products & Services.

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