Intelligent Vending Machines Market Recent Study Including Growth Factors, Applications, Key Players 2025

Posted February 11, 2022 by StartupIdeas

The increasing penetration of Internet of Things (IoT) and connected device technologies is anticipated to bolster the growth of intelligent vending machines.
The global intelligent vending machines market size is expected to reach USD 11.84 billion by 2025, according to a new study by Grand View Research, Inc. The surge in the penetration of self-services technology across North America and Europe is anticipated to drive the industry growth over the next nine years. Intelligent vending machines incorporate energy efficient electronic equipment including efficient lighting components, such as LEDs, compressors, and sensors, that help in conserving energy.

Industry players are progressively participating and promoting initiatives, such as Refrigerants and Naturally!, that help in eliminating and minimizing the release of hydrofluorocarbons (HFC) from vending machines. This is subsequently impelling the demand for HFC-free products such as intelligent vending systems.

The incorporation of ground-breaking features, such as voice and face recognition that enables interaction between the machine and the consumer, is energizing the industry growth prospects. These features add intelligence to the systems by detecting and responding to consumers and offer a dynamic visual experience with interactive promotions.

The increasing consumer preference toward cashless payments is a favorable trend observed in the market. The acceptance of payments through technologies, such as Near-field Communication (NFC), is instrumental in driving public interest owing to the easier, faster, and contactless modes of payment. These modes help in decreasing the cash management costs and subsequently decrease threats such as theft and vandalism.

Intelligent dispensing systems help in gaining insights regarding consumer behavior, preferences, and buying patterns. Interactive displays help vendors to generate more revenue through the display of advertisements and loyalty programs.

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The rising inclination of consumers toward cashless payments is further instrumental in accelerating the industry growth. Protocols for cashless, near-field communication (NFC), and mobile payments are presumed to favorably impact the industry. Technological proliferation is leading to the adoption of innovative techniques, such as face and voice recognition, in dispensing systems.

Machines integrated with face and voice recognition sensors facilitate users by recommending products based on their age and gender. Vendors are accentuating on deploying interactive dispensing systems to generate more profit through advertising and displaying other information and news. Moreover, the systems help in reducing operational costs as they can be managed through remote locations, thereby eliminating the need for intervention by a machine manager.

However, the increasing regulations pertaining to the sale of junk food at avenues such as schools and the prohibition of potentially hazardous confectionery products, such as cigarettes and tobacco, are estimated to deter the market growth. Moreover, the manufacturing and deployment of these machines are a cost-intensive affair, which subsequently affects the vendor interest.

Packaged drinks are estimated to emerge as the fastest growing type segment in the intelligent vending machines market, owing to the increasing focus on healthy vending. The segment mainly comprises packaged drinks such as juice, water, milk, flavored waters, and energy drinks, among others. Consumers are persistently seeking novel packaged drinks that are low in calories and suit the healthy lifestyles and needs.

The availability of packaged drinks in tetra paks and multi-layered aseptic cartons is escalating the adoption of packaged drinks. The packaged drinks segment demand in 2015 was valued at 224.6 thousand units.

The market demand for packaged drinks was valued at USD 569.2 million in 2015 and is predicted to grow at a CAGR of 14.8% over the forecast period. The hot drinks type segment accounted for the largest share in terms of revenue in 2015 and was valued at USD 1,534.2 million. A significantly high preference among consumers for instant refreshment and hydration is propelling the demand for the hot drinks segment.

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Top Key Players & Market Share Insights:

Prominent players dominating the market include 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., Rhea Vendors Group, Westomatic Vending Services Ltd., Sanden Corp., Seaga, Jofemar, and Royal Vendors, among others.

About Grand View Research

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

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Categories Industry , Research , Technology
Tags intelligent vending machines market , intelligent vending machines market demand , intelligent vending machines market growth , intelligent vending machines market share , intelligent vending machines market size
Last Updated February 11, 2022