Pune, India, Dec. 20, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global Intelligent Vending Machine Market size was valued at USD 6.51 billion in 2021. The market is anticipated to grow from USD 7.44 billion in 2022 to USD 22.0 billion by 2029, exhibiting a CAGR of 16.7% over the estimated period. Increasing demand for packaged food and beverages and cashless vending machines is expected to propel the market course in a growing direction. The development of advanced infrastructure by retailers is expected to facilitate market development of intelligent vending machines. Fortune Business Insights™ provides this information in its research report, titled “Intelligent Vending Machine Market, Forecast 2022-2029”.
Industry Development:
- August 2020- N&W Global Vending S.p.A. partnered with Saeco. This partnership is set to help the company improve its intelligent vending machine services, offering hot and cold beverages.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 16.7% |
| 2029 Value Projection | 22.0 billion |
| Base Year | 2021 |
| Intelligent Vending Machine Market Size in 2021 | 6.51 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 160 |
| Segments covered | By Machine Type, By Product Type, By Application, By Region |
COVID-19 Impact:
Disruptions in Supply Chains During Pandemic Pushed Market Growth
With the outbreak of the COVID-19 pandemic, the growth of the overall market has been affected due to work-from-home models. However, the demand for food & beverages observed a huge growth but this has disrupted the supply chains due to panic buying from population. For instance, Azkoyen vending machines were installed in the less-cost high-speed train along with new AVLO trains. These vending machines are going to deliver snacks and drinks to more than 400 passengers (Avlo) with their automation.
Report Coverage:
- It assimilates key market drivers and restraints.
- It profiles the rankings of key market players accordingly.
- It includes key market developments and information on different market segments.
- It provides a comprehensive market assessment.
- It assesses the COVID-19 pandemic’s impact on the market.
Drivers and Restraints:
Integration of IoT and Technological Innovations to Propel Market Growth
Integration of Internet of Things (IoT) and technological innovations are anticipated to drive the intelligent vending machine market growth. The vending industry has been undergoing fundamental transformation and using intelligent system technology to connect remote management software and touch screens, thereby driving market growth. Adoption of Internet of Things (IoT) and connected device technologies is anticipated to propel market growth. Increasing consumer acceptance of cashless and contactless payments when purchasing food and beverages is expected to set the course for market development.
However, rising costs of installation and security issues and theft are anticipated to hamper the market growth.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/intelligent-vending-machine-market-107360
Intelligent Vending Machine Market Segmentation Analysis:
Free-Standing Vending Machines to Dictate Due to Various Advantages
Based on machine type, the market is bifurcated into free-standing vending machines and wall-mounted vending machines. Free-standing vending machines segment is projected to hold the largest part in the segment due to various advantages such as images and content, remotely managed pricing, beverages, packaged food and snacks, inventory reporting, and cloud-based hosting.
Food and Beverage to Lead the Segment Due to its Popularity
According to product type, the market is categorized into food & beverages, snacks, tobacco, confections, and others. Food & beverages segment is expected to have a major part due to its popularity in public transportation such as airports, train stations, and bus stops. Snacks segment is expected to exhibit substantial growth due to growing interest in healthier products, longer working hours, and innovative product launches.
Quick Service Restaurants to Lead the Segment Owing to Changing Customer Methods
According to application, the market is divided into quick service restaurant, commercial malls & retail stores, offices, public transport, shopping centers, and others. Quick-service restaurants segment is expected to have a major part due to changing customer buying methods and demand for more convenient ways to purchase food and beverages.
Regional Insights:
Asia Pacific to Lead Market Share Owing to Robust Infrastructure
Asia Pacific is expected to lead the intelligent vending machine market share as retailers are focused on providing a robust infrastructure with technical capabilities to use advanced devices in contactless payment solutions. During the pandemic, retailers in many countries now check temperatures of customers at store entrances and also provide sanitizers.
North America is set to have steady growth due to the growing efforts of these corporations regarding technical advances in research and development activities, acquisitions, strategic partnerships, joint ventures, and collaborations.
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Competitive Landscape:
Partnership Strategies by Key Players to Develop the Market Course
The market has a number of various intelligent vending machine players such as Beta Automation, Vendstop, Cherise India, JP Vend Tech, Daalchini, Snaxsmart, Silcron, SandenVendo America, VendomaticIndia, and AAEON. The market players are seen to adopt various such as product development, partnerships, acquisitions, agreements, and expansions. In October 2021, Rhea Vendors Group and SECO SpA signed a partnership with SECO SpA for the development of innovative solutions in vending and coffee machines. Partnership strategies by the market players are set to push the market course.
A List of Key Manufacturers Operating in the Global Market:
- Azkoyen Group (Spain)
- Crane Co. (U.S.)
- FAS INTERNATIONAL S.R.L (Italy)
- Fuji Electric Co., Ltd. (Japan)
- Royal Vendors, Inc. (U.S.)
- Sanden Holdings Corporation (Japan)
- Rhea Vendors Group Spa (Italy)
- Seaga (U.S.)
- Jofemar Corporation (U.S.)
- Sielaff GmbH & Co (Germany)
- BIANCHI INDUSTRY SPA (Italy)
- N&W Global Vending S.p.A. (Italy)
Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Intelligent Vending Machine Key Players Market Share Insights and Analysis, 2021
- Global Intelligent Vending Machine Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
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- Key Findings
- By Machine Type (USD Bn)
- Free-Standing Vending Machines
- Wall-Mounted Vending Machines
- By Product Type (USD Bn)
- Food & Beverages
- Snacks
- Tobacco
- Confections
- Others
- By Application (USD Bn)
- Quick Service Restaurant
- Commercial malls & retail stores
- Offices
- Public Transport
- Shopping Centers
- Others
- By Region (USD Bn)
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
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Continued….
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