Intelligent Vending Machines Market

The global intelligent vending machines market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the connected device and increasing penetration of Internet of Things (IoT) technology.

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A vending machine is an automated tool that dispenses items, which are stored in the machine in exchange for tokens or coins inserted into it. An intelligent vending machine is an upgrade of vending machine that uses touch-screen controls, audio, video, gesture-based interaction, fragrance, and cashless payment to not only dispense things but also to engage customers. Additionally, an intelligent vending machine offers item, such as beverages, packaged food, and tobacco products. The COVID-19 pandemic outbreak has a negative impact on the industry as it disrupted the supply chain management across the globe. The market is expected to recover soon as several industries resumed their operation owing to subsiding the COVID cases gradually worldwide.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing demand for packaged food products is one of the key factors driving the market growth.
• Implementing technology, such as IoT and cloud infrastructure into vending machines is expected to boost the market growth in the coming years.
• Rising regulations pertaining to the sale of junk food and tobacco products is a key challenge. This is likely to hinder the market growth during the forecast period.
• High purchasing and implementation cost is anticipated to hamper the market expansion during the projected timeline.
• Increasing inclination of consumers toward cashless payments is expected to create a significant growth opportunity for the market in the near future.

Scope of the Report

The report on the global intelligent vending machines market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Office segment to grow at a rapid pace

Based on applications, the global intelligent vending machines market is divided into offices, QSR, shopping malls, & retail stores, public transport, and others. The offices segment is expected to grow at a rapid pace during the forecast period owing to numerous benefits it offers, such as cost-effectiveness, space conservation, and cleanliness. However, the QSR, shopping malls, & retail stores segment is anticipated to hold a key share of the market in the coming years due to vast adoption of the machines across these sectors.

Healthy vending to drive the packaged drinks segment

On the basis of types, the market is segregated into packaged drinks, snacks, hot drinks, and others. The packaged drinks segment is projected to expand at a considerable CAGR during the forecast period attributed to the increasing focus on healthy vending among the users. On the other hand, the hot drinks segment is anticipated to account for a major market share during the forecast period due to wide preference among consumers for hydration and instant refreshment.

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North America to constitute a key market share

In terms of regions, the global intelligent vending machines market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the emergence of new business models and rapid adoption of self-services technology across the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to the adoption of the technology in the region by companies, specially by small & medium enterprises.

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Segments

Segments Covered in the Report

The global intelligent vending machines market has been segmented on the basis of

Applications

• Offices
• QSR, Shopping Malls, & Retail Stores
• Public Transport
• Others

Types

• Packaged Drinks
• Snacks
• Hot Drinks
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Seaga India Pvt. Ltd.
• Jofemar Corp.
• Crane Co.
• Advantech Co. Ltd.
• Bianchi Vending Group S.p.A.
• Azkoyen Group
• FAS International S.p.A.
• N&W Global Vending S.p.A.
• Westomatic Vending Services Ltd.
• Sanden Corp.
• Rhea Vendors Group S.p.A.

Competitive Landscape

Key players competing in the global intelligent vending machines market are Seaga India Pvt. Ltd.; Jofemar Corp.; Crane Co.; Advantech Co. Ltd.; Bianchi Vending Group S.p.A.; Azkoyen Group; FAS International S.p.A.; N&W Global Vending S.p.A.; Westomatic Vending Services Ltd.; Sanden Corp.; and Rhea Vendors Group S.p.A. As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives, such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.

For instance, in October 2015, Bianchi Vending Group S.p.A. took over Brasilia, who was the manufacturer of espresso machines, to increase the strength of their restaurant, hotel, and catering sector business that ensures the supply of catering companies, bars, restaurants, and hotels.