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...