The Global Vending Machines Market is estimated to be USD 47.29 Bn in 2023 and is expected to reach USD 66.54 Bn by 2028 growing at a CAGR of 7.07%.New product launches and contracts offer lucrative opportunities for the market players
Vending Machine is an automated device designed to offer people various goods, such as snacks, drinks, pizzas, cupcakes, newspapers, tickets, etc. Depending on the quantity of money deposited and the goods chosen, a vending machine will distribute a product to the users. A conventional power supply connection is needed for a vending machine, a solitary piece of equipment that operates continuously. Simple electro-mechanical devices are used in it, which aids in automating the entire vending process. Its fundamental purpose is to effortlessly provide people with a broad range of products whenever they need them.
Vending machines have become a favorable choice for customers seeking to purchase food and beverages. Due to customers' busy lifestyles, urbanization, and other related consumer behaviors, the need for easily accessible food has risen in recent years. It provides customers with a quick and simple option to buy snacks and beverages without dealing with a cashier or standing in line. This convenience is particularly appealing in high-traffic areas like airports, train stations, and shopping malls. As a result, the demand for vending machines has substantially increased, especially in offices, retail stores, and public spaces.
Based on the Internet of Things, manufacturers create and release vending machines. This has made it possible to collect real-time data and implement a whole IoT solution for better machine monitoring. As a result, gathering consumer experience and expectations has become simpler, improving the purchase experience for customers.
High installation and operation expenses, as well as several policies prohibiting the sale of unhealthy fast food in public and commercial places, could, however, have a detrimental effect on the market's expansion. Furthermore, issues faced by manufacturers in managing a wide variety of consumables is impeding the market growth. Managing MRO products-mostly consumables like fasteners, tools, Personal Protective Equipment, and other low-value, high-volume items-poses challenges for the manufacturing industry.
- Technology developments have greatly impacted the vending machine sector, making it more effective, practical, and individualized for customers. For instance, the introduction of cashless payment alternatives, interactive touchscreens, and data analytics have allowed vending machine operators to provide a more seamless and interesting consumer experience.
- In order to purchase the hardware and software for intelligent vending machines, end users must incur significant capital expenditures. Although businesses can alter the hardware and software to suit their demands, they can also outsource this modification, which incurs significant additional expenditures. Vendors must introduce novel items to compete in the market, which requires significant R&D expenditures.
Market Segmentations
- The Global Vending Machine Market is segmented based on, Type, Technology, Application, End-User, Geography.
- By Type, the market is classified into Food Vending Machines, Beverages Vending Machines, and Tobacco Vending Machines, and Others.
- The beverage machine is expected to hold the largest share. An electronic machine that dispenses different beverages, such as soda, coffee, water, and others, is known as a beverage vending machine. Beverage vending machines are used in a variety of locations around the world, including hotels and restaurants, workplaces, and supermarkets. Also, industrialized nations are seeing an increase in demand for the item. The key factor propelling the market for beverage vending machines is the enormous growth of the beverage sector.
- By Technology, the market is classified into Automatic Machine, Semi-Automatic Machine, and Smart Machine.
- Automatic Machines are anticipated to hold the larger share than others. The need for automatic vending machines will rise dramatically as investments in automatic machine places such as airports, hospitals, hotels, and restaurants increase. The pricing, the range of brands offered, and the simplicity of sales and purchases are the major factors driving the market. Also, because of the surge in impulsive purchases, vending machines are thought to be the most lucrative sales channel in airports, train stations, and bus terminals.
- By Application, the market is classified into Hotels & Restaurants, Corporate Offices, Public Places, and Others.
- Hotels and restaurants establishments help vending machine manufacturers enter new markets and serve a wide range of customers. The increased popularity of luxury dining and tourism is expected to stimulate the rise of the vending machine business. This segment accounts for the largest share as compared to others.
- Corporate buildings, including IT hubs, special economic zones (SEZ), and commercial complexes, often have vending machines. Vending machines are used in offices to maintain cleanliness and save money, and space. The machine's quick delivery capabilities, which make it a particularly practical choice for corporate office users, can also be related to market expansion.
- By End-User, the market is classified into Aerospace, Construction, Healthcare, Manufacturing, and Oil & Gas, and Food & Beverages.
- Manufacturing has the largest segment. The demand has expanded due to increasing urbanization and industrialization.
- By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.
- Asia-Pacific has the highest share of the market among all the other regions. The growing corporate and commercial sectors in the Asia-Pacific region help to drive product demand. The market in the area is expanding as a result of the proliferation of brand-new, cutting-edge vending machines. Additionally, the expansion of the vending machine business is anticipated to be fueled by the adoption of western culture and an increase in disposable income. The Asia-Pacific region's market is growing as a result of factors including urbanization, a big client base, and a preference for food products from vending machines.
Recent Developments
- A series of reverse vending machines that can eat 100 containers at once will be installed in Singapore, according to an announcement made by the Swedish vending machine manufacturer RVM Systems. These machines aim to persuade people to dispose of used aluminum cans and plastic bottles properly. Moreover, these machines give shopping rewards, ActiveSG credits, and other incentives - May 2022.
- A restaurant, Andouillette, foie gras, or even ris de veau in France's Charente town installed a vending machine so that clients could purchase fresh gourmet foods - March 2022.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are, Airgas, Snap-on Autocrib, BlackHawk Industrial, Digital Media Vending International, etc.Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
- The report presents a detailed Ansoff matrix analysis for the Global Vending Machine Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
- The publisher analyses the Global Vending Machine Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
- Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Vending Machine Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
- Market segmentation
- Competitive Analysis: Comparative analysis of competitor
- Historical, current, and projected size of the market based on value and volume
- Market size of the US states
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Vending Machine Market, By Offering
7 Global Vending Machine Market, By Type
8 Global Vending Machine Market, By End-User
9 Global Vending Machine Market, By Application
10 Global Vending Machine Market, By Technology
11 Americas' Vending Machine Market
12 Europe's Vending Machine Market
13 Middle East and Africa's Vending Machine Market
15 Competitive Landscape
16 Company Profiles
17 Appendix
Companies Mentioned
- Airgas, Inc.
- Snap-on Autocrib
- BlackHawk Industrial
- Digital Media Vending International, LLC
- Easier Vending
- International Vending Management, Inc.
- Seaga Manufacturing Inc.
- SecuraStock
- Silkron
- Stanley Black & Decker, Inc.
- Supplypro, Inc
- TouchPoint, Inc.
- Turtle & Hughes Integrated Supply
- Vendstop
- Westomatic Vending Services Ltd.
- Royal Vendors, Inc.
- Crane Merchandising Systems Inc.
- Armark Corporation
- Azkoyen, SA
- JOFEMAR SA
- Fuji Electric Co., Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 146 |
| Published | February 2024 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 47.29 Billion |
| Forecasted Market Value ( USD | $ 66.54 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 21 |
