NEW YORK, United States, May 12, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Cigarette Vending Machine Market By Payment Mode (Cash And Swiping Card), By Operational Mode (Manual And Automatic), By Application (Pubs And Nightclubs, Hotels And Restaurants, Public Places, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Cigarette Vending Machine Market size & share in terms of revenue was valued at USD 1.3 billion in 2022 and it is expected to surpass around USD 1.9 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.5% during the forecast period 2023 to 2030.”
What is Cigarette Vending Machine? How big is the Cigarette Vending Machine Industry?
Report Overview:
Cigarette vending machines are automatic devices that deliver cigarettes to customers upon payment. These devices are usually found in bars, restaurants, and other public places where smoking is allowed. The machines are simple in design and easy to use, and customers choose the brand of cigarettes they want and pay with coins or bills.
However, stringent laws and regulations regarding tobacco products in various countries decreased its popularity. Cigarette vending machines have been around for decades and were once a common sight in many countries.
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Global Cigarette Vending Machine Market: Growth Factors & Restraints
The global cigarette vending machine market is driven by the surge in demand for convenience, as customers value the ability to purchase cigarettes quickly and easily in public places. Another driver is that vending machines will be able to reach customers in locations where traditional retail outlets are unavailable, potentially increasing sales. However, the cigarette vending machine industry also faces challenges such as increased regulation and restrictions on tobacco sales, especially to minors. Many countries have laws requiring age verification for cigarette purchases, and cigarette vending machines often struggle to meet these requirements.
Despite these challenges, the market also offers opportunities for innovation. Companies are developing new technologies to improve vending machine functionality and security, such as biological age verification and contactless payment options.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 1.3 Billion |
| Projected Market Size in 2030 | USD 1.9 Billion |
| CAGR Growth Rate | 4.5% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Harting System, Hangzhou Joegoo Technology Co., Ltd., Peatix Inc., Digital Media Vending International, LLC, Fuji Electric Co., Ltd., Sielaff GmbH, Azkoyen Group, GM Global Solutions, Jofemar Vending, Slim Line, E Team International (Adimac SRL), and Advanced Cigarette Vending Machine among others. |
| Key Segment | By Payment Mode, By Operational Mode, By Application, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Cigarette Vending Machine Market: Segmentation Analysis
The global cigarette vending machine market is segmented based on payment mode, operational mode, application, and region.
Based on payment mode, the global cigarette vending machine market is segmented into cash and swiping cards. The swiping cards segment held a significant market share in 2022 and is predicted to grow at the fastest CAGR during the forecast period. Swipe cards offer customers a convenient and secure way to buy cigarettes without cash, which can be especially important in countries where cashless payment methods are becoming increasingly popular. In addition, swipe cards offer greater security to machine users as they reduce the risk of theft and vandalism compared to cash payments. In addition, many swipe card systems offer age verification features to help operators comply with regulations regarding tobacco products sold to minors.
Based on operational mode, the global cigarette vending machine industry is segmented into manual and automatic. The automatic segment is predicted to cite the fastest CAGR during the forecast period. Customers will find these machines to be more convenient and users will save money because they are made to be self-service and operate without the assistance of a person. Customers can quickly and easily purchase cigarettes from vending machines, which can be found in public places like airports, train stations, and shopping malls. These machines can likewise be found somewhere else, like inns and places of business.
The automated market has also benefited from technological advancements like age verification features and the acceptance of cashless payments. Safety and compliance with tobacco product sales regulations have improved as a result of these advancements.
Based on application, the global market is bifurcated into pubs & nightclubs, hotels & restaurants, public places, and others. The pubs and nightclubs segment held the dominating market share in 2022 and is further projected to grow rapidly during the forecast period.
The global Cigarette Vending Machine market is segmented as follows:
By Payment Mode
- Cash
- Swiping Card
By Operational Mode
- Manual
- Automatic
By Application
- Pubs and Nightclubs
- Hotels and Restaurants
- Public Places
- Others
Browse the full “Cigarette Vending Machine Market By Payment Mode (Cash And Swiping Card), By Operational Mode (Manual And Automatic), By Application (Pubs And Nightclubs, Hotels And Restaurants, Public Places, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”-Report at https://www.zionmarketresearch.com/report/cigarette-vending-machine-market
Competitive Landscape
Some of the main competitors dominating the global Cigarette Vending Machine market include -
- Harting System
- Hangzhou Joegoo Technology Co. Ltd.
- Peatix Inc.
- Digital Media Vending International LLC
- Fuji Electric Co. Ltd.
- Sielaff GmbH
- Azkoyen Group
- GM Global Solutions
- Jofemar Vending
- Slim Line
- E Team International (Adimac SRL)
- Advanced Cigarette Vending Machine
- Among Others.
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Cigarette Vending Machine market is likely to expand at a CAGR of around 4.5% during the forecast period (2023-2030).
- In terms of revenue, the Cigarette Vending Machine market size was valued at around US$ 1.3 billion in 2022 and is projected to reach US$ 1.9 billion by 2030.
- The growing number of smoking across the globe is expected to drive market growth over the forecast period.
- Based on the payment mode, the swiping card segment is expected to grow at the fastest rate during the forecast period.
- Based on the operational mode, the automatic segment is growing at the highest CAGR during the forecast period.
- Based on the application, the pubs and nightclubs segment is expected to hold the largest market share during the forecast period.
- Based on region, North America is expected to dominate the market during the forecast period.
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Key questions answered in this report:
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Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Payment Mode, By Operational Mode, By Application, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The North American region held the largest cigarette vending machine market share in 2022 and is further predicted to grow exponentially during the forecast period. The North American cigarette sales industry has seen mixed growth in recent years. While the overall trend is toward a decline in cigarette consumption, the vending machine market remains relatively stable due to factors such as convenience and accessibility. The North American market is highly regulated, with strict laws surrounding the sale of tobacco products, including age verification requirements and restrictions on where vending machines can be located.
This has led to a decrease in the number of vending machines in some places, such as public spaces and schools. However, the market has grown in some sectors, such as hospitality and places where smoking is allowed. Additionally, advancements in technology such as B. the ability to accept free payments and offering age verification features have contributed to the growth of the market.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Cigarette Vending Machine Market: Opportunities
Technological innovation provides a lucrative opportunity.
The Internet of Things is being utilized by manufacturers to create and distribute vending machines. To increase machine monitoring, it is now possible to collect real-time data and develop an end-to-end IoT solution. As a result, it is now easier to collect information on consumer experience and expectations and to give customers a better purchase experience. As a result of ongoing innovation and technology improvements, the sector today provides more current mobile solutions to modify customer behavior. The cigarette vending machine market demand has been considerably impacted by developments like speech recognition, interactive displays, and big data integration that have made vending machines more helpful and user-friendly for consumers.
Recent Developments
- In March 2022, the cloud-managed AI-enabled vending machine, which was introduced by Digital Media Vending International, would improve the user experience of vending machines by utilizing augmented reality, product recognition, personalized experiences, and more.
- In March 2020, Tobacco vending machines made by Wurlitzer have the highly successful Ageviewers age validation mechanism. In the Netherlands, there are more than 10,000 old tobacco vending machines. These machines sell tens of thousands of packs of cigarettes each year to individuals who are under the legal smoking age.
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FREQUENTLY ASKED QUESTIONS:
- What is a cigarette vending machine?
- Which key factors will influence the cigarette vending machine market growth over 2023-2030?
- What will be the value of the cigarette vending machine market during 2023-2030?
- What will be the CAGR value of the cigarette vending machine market during 2023-2030?
- Which region will contribute notably towards the cigarette vending machine market value?
- Which are the major players leveraging the cigarette vending machine market growth?
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