Registering a CAGR of 6.7% over the forecast period of 2021-2027, the vending machine market is anticipated to reach the market value of US$ 25.25 billion in the year 2027 from US$ 18.28 billion in the year 2017.
Internet of things (IoT) based vending machines are being developed and launched by manufacturers. It has become easier to know about the consumer experience and expectations along with providing an improved experience for consumers. Continuous technological developments and innovations resulted in the industry offering more modern and on-the-go solutions that are parallel with shifts in customer behavior.
Growing demand for on-the-go snacks, drinks, etc. because of a busy lifestyle is boosting product sales. the expansion also can be attributed to the machine’s ability to deliver goods quickly making it a particularly convenient option for consumers. Also, flexibility, in terms of location, i.e. indoor or outdoor including the choice to work the machines 24/7 without any manual intervention makes them ideal to be used in offices and commercial and public areas. Vending machines are highly effective as they assist save labor costs, which is additionally driving their demand. The Global Vending Machine Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Their flexibility in terms of location, indoor or outdoor along with a choice to work the machines constantly without any manual interference is what makes them perfectly suited for public and commercial areas. Vending machines are extremely effective as they reduce labor costs.
The demand for vending machines has increased during the decade and with the introduction of cashless payment systems, smart vending technology solutions are gaining momentum on an outsized scale. Increasing urbanization and rising disposable income have fuelled the expansion of vending machines. Governments of varied regions restricted the utilization of food and beverage vending machines in many places like schools, and colleges, thereby limiting the demand for these machines.
Rising population, growing digitization, mobile-based cashless payment options increasing investment in the retail sector, raising awareness, and increasing consumers' purchasing power are key growth drivers of India's vending machine market. Additionally, the demand for vending machines will be primarily driven by the growth of organized retailing across malls and multiplexes, BPOs, IT, and ITES sectors in India during the forecast period.
The factors behind the growth of vending machine market in India are Growing digitalization, raising awareness, increase in consumer’s purchasing power, incremental investment in the retail sector, rising population, mobile-based cashless payment options, and more. Over the forecast period, another factor that is expected to contribute to the growth of the market is the growth of organized retailing across BPOs, IT and ITES sectors and malls, and multiplexes.
In 2021, ABB launches a new condition monitoring digital service, tailor-made for predictive maintenance of conveyor belts- ABB has launched ABB Ability™ Condition Monitoring for belts, an advanced digital service to enable mine operators to track speed, misalignment, damage, wideness and wear, slippage, and temperature of conveyor belts in real-time, and therefore expect maintenance, avoid unplanned downtime and improve belt reliability and lifetime.
In 2021, Coca-Cola is launching vending machine subscriptions in Japan- Coca-Cola is launching a vending machine subscription service in Japan in the hopes of reviving sales at the ubiquitous but forgotten, drink dispensers. The machines have been a mutual sight in the country for over a hundred years, posing everything from snacks and toys to pet food and beer. Even if you've never visited Japan, you may have chance upon them on the Yakuza or Shenmue games. However, the pandemic has bashed vending machine sales by over 35 percent as people were forced indoors and away from crowded city centers.
Chai Point launches Contactless Vending Machines- As the Coronavirus pandemic continues to rise and the need for hygiene and social distancing garners center stage, the Bengaluru-based tea chain broadcasts the launch of its contactless vending machines business.
Top Key Players in the Vending Machine Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Vending Machine Market is fragmented with a large number of small players operating worldwide. The companies referred to in the market research report include Fuji Electric, Crane, SandenVendo, Lone Star Funds, Sielaff, Azkoyen Group, Bianchi Vending, Royal Vendors, Selecta, Jofemar, Westomatic, Fushi Bingshan, Seaga, FAS International, Deutsche Wurlitzer, AMS, Aucma and others.
Global Vending Machine Market research provides a detailed Analytical Insights of global market size, regional and country-level scope, segmentation wise growth, global share, Competition Scenario, sales analysis, impact global market players on domestic players, value chain optimization, trade regulations, Latest developments, future opportunities, product launches, expanding marketplaces, and New technological innovations.
What are the major Applications, Types, and Regions for Vending Machine Market?
By Type, Vending Machine Market has been segmented into
The end user’s industry application on Vending Machine Market is,
Due to factors such as changing lifestyles and rising demand for Ready-to-Eat (RTE) meals, North America is expected to be the largest regional market over the anticipated period. Asia Pacific, on the other hand, is expected to increase at the fastest rate from 2022 to 2027. In the regional market, Japan is the most profitable country. APAC's growing commercial and corporate sectors are also driving product demand.
U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific, and Latin America.
Report Attributes
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Report Details |
Forecast Period 2022 to 2027 CAGR |
CAGR of 6.7% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies
| Fuji Electric, Crane, SandenVendo, Lone Star Funds, Sielaff, Azkoyen Group, Bianchi Vending, Royal Vendors, Selecta, Jofemar, Westomatic, Fushi Bingshan, Seaga, FAS International, Deutsche Wurlitzer, AMS, Aucma |
Regions Covered
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Countries Covered |
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Base Year
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2022 |
Historical Year
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2017 to 2022 |
Forecast Year
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2022 to 2027 |
Customization Available
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Yes, the report can be customized as per your needs |
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
What is the study period of this market?
The Vending Machine Market is studied from 2017 - 2027.
What is the growth rate of Vending Machine Market?
The Vending Machine Market is growing at a CAGR of 6.7% over the next 5 years.
Who are the key players in Vending Machine Market?
Fuji Electric, Crane, SandenVendo, Lone Star Funds, Sielaff, Azkoyen Group, Bianchi Vending, Royal Vendors, Selecta, Jofemar, Westomatic, Fushi Bingshan, Seaga, FAS International, Deutsche Wurlitzer, AMS, Aucma
What region does this Vending Machine Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Vending Machine Market?
Food, Cigarette, Ticket, Food, Beverage & Drink, Other Goods
What are the major end-use applications of Vending Machine Market?
Factory, Office Building, Public Places, School, Others
Application_List
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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