Montreal, April 27, 2023 (GLOBE NEWSWIRE) -- "Smart Vending Machine Market" is the title of a new report from Data Bridge Market Research. Key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive environment are all dissected in detail in the research. Smart Vending Machine market survey report guides to stay up to date on the market as a whole and gives a holistic view of the market allowing the benchmarking of all the companies in the industry, not just the ones that are focused. The report examines various parameters impacting on Smart Vending Machine industry market dynamics, economic and non-economic aspects, investment opportunities, product offerings, key financial information, recent developments, SWOT analysis, and strategies. The crucial business strategies recognized by the important individuals from the Smart Vending Machine market have likewise been coordinated in the report.
An excellent Smart Vending Machine market analysis document contains a comprehensive overview of definitions, scope, application, production and CAGR (%) comparison, segmentation by type, share, revenue status and outlook, capacity, consumption, market drivers, production status and outlook and opportunities, export, import, emerging markets/countries growth rate. By employing this report, clients or businesses can get aware of the impact of opportunities that are offered by the market and hence design sustainable and competitive strategies in times of rapid development. Besides, the reliable Smart Vending Machine market report also studies market growth opportunities and restraining factors.
Data Bridge Market Research analyses that the smart vending machine market is expected to reach USD 25.16 billion by 2030, which was USD 8.00 billion in 2022, registering a CAGR of 15.40% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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A vending machine is a system that dispenses products stored inside it in exchange for coins or tokens. A smart vending machine is an automated machine which dispenses products and engages consumers with video, audio, fragrance, touchscreen controls, cashless payment, and gesture-based communication. Generally, frozen food, drinks, and tobacco products are dispensed by a smart vending machine.
Smart vending machine manufacturers have aimed to create new ways of machine-human interaction. They have incorporated new gesture-based technologies, video technologies, touchscreen controls, and cashless payment mechanisms. The recent growth in the development of commercial spaces across various areas of globe is creating significant demand for the smart vending machines. Some of the most common commercial places where smart vending machines have observed an upward trend include manufacturing facilities, retail, hotels and lodging among others.
The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.
Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Smart Vending Machine market. Sales and revenue in this sector have increased at an exponential rate. The market's size and growth are both expected to increase thanks to the factors driving the market's expansion over the projected period.
Leading businesses in the worldwide Smart Vending Machine market are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies' strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.
Recent Developments
- In 2022, Digital Media Vending International introduced a cloud-managed A.I.-enabled vending machine. This smart vending machine will enhance the user experience of vending machines with the help of product recognition, personalized experience, augmented reality, and more.
- In 2021, Westomatic Vending Services Ltd. introduced a smart Nutritional Drinks Dispenser. This dispenser will be delivered in gyms to avoid spreading bacteria and germs with its new technology, such as completely contactless technology.
The Smart Vending Machine Market is Dominated by Firms Such as
- Azkoyen Group (Spain)
- Bianchi Industry (Italy)
- Crane Payment Innovations (C.P.I.) (U.S.)
- Evoca Group (Italy)
- Digital Media Vending International, L.L.C. (U.S.)
- FAS INTERNATIONAL S.R.L. (Italy)
- Fuji Electric Co., Ltd. (Japan)
- SEAGA MANUFACTURING INC. (U.S.)
- Rhea Vendors Group Spa (Italy)
- Intel Corporation (U.S.)
- GLORY LTD. (Japan)
- T.C.N. (China)
- Advantech Co., Ltd. (Taiwan),
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Important Features that are under Offering Market Highlights of the Reports:
- Detailed Overview of this market
- Changes in industry market dynamics
- Detailed market segmentation by type, application, etc.
- The historical, current, and projected market size in terms of quantity and value
- Recent industry trends and developments
- Competition situation in this Market
- Key companies and product strategies
- Potential niche segment/region showing promising growth.
Finally, this Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers
Opportunities
- Increasing focus of smart vending machine manufacturers to develop advanced product
The growing focus of smart vending machine manufacturers is on developing new and innovative machines that use advanced technologies such as IoT, A.I., and biometrics to make them highly efficient, secure and user-friendly. For instance, Digital Media Vending International, a vending machine manufacturer, selected vending tracker powered by CLEA from SECO MIND USA LLC to create AI-enabled vending machines in 2022. Therefore, smart vending machine manufacturers' increasing focus on developing advanced products will likely to create lucrative opportunites for the market growth.
- Increasing demand for smart vending machines in commercial spaces
The recent growth and expansion of commercial spaces in various parts of the world are creating significant demand for smart vending machines, which will likely generate numerous opportunities for market growth. Some of the most common commercial places where smart vending machines have witnessed an upward trend include manufacturing facilities, retail, hotels and lodging, among others.
Key Market Segments Covered in Smart Vending Machine Industry Research
Type
- Retail Vending Machine
- Food and Beverage
- Hot drinks
- Snacks
- Packaged Drinks
- Others
- Self Service
- Photo Service
- Hospital/Medical Vending Machine
- Hotel Vending machines.
- A.T.M.
Product Dispensed
- Salty and Savory Snacks
- Bakery Products
- Confectionery Products
- Beverages
End Use Industry
- Retail Industry
- Entertainment and Hospitality
- Medical
- Quick-Service Restaurant
- Shopping Centers
- Transportation/Public Transport
Application
- Manufacturing
- Retail Stores
- Offices
- Educational Institutes
Technology
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- Теlеmеtrу Ѕуѕtеmѕ
- Vоісе Rесоgnіtіоn
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Key Industry Drivers:
- Growing demand for self-service technology
The growing demand for self-service technology is expected to propel the growth of the global smart vending machines market. Smart vending machines are fully automated self-service machines that dispense beverages, snacks, and cigarettes. Therefore, the rising demand for self-service technology, such as cashless transactions and fully automated machines, is likely to boost the growth of the global smart vending machine market.
- Increasing adoption of smart vending machines
The growing adoption of smart vending machines in areas such as commercial offices and industrial sectors is lekl to boost the market growth because of ease of use in vending products and increasing preference for contactless transactions. The adoption of smart vending machines at manufacturing facilities provides several benefits, such as cost-effectiveness, space conservation, and cleanliness.As a result of all these factors, enhance the market growth.
How will this Market Intelligence Report Benefit You?
- The report offers statistical data in terms of value (US$) as well as Volume (units)
- Exclusive insight into the key trends affecting this industry, although key threats, opportunities and disruptive technologies that could shape the Global Market supply and demand
- The report tracks the leading market players that will shape and impact this Market most
- The data analysis present in this report is based on the combination of both primary and secondary resources
- The report helps you to understand the real effects of key market drivers or retainers on this business
Smart Vending Machine Market Regional Analysis/Insights:
The countries covered in the smart vending machine market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.).
North America dominates the smart vending machine market owing to the growth and expansion of the self-service industry in this region. Furthermore, the increasing prevalence of favorable policies and the growing emergence of new business models will further boost the market growth in this region.
Asia-Pacific is expected to be the fastest developing region during the forecast period of 2023-2030, owing to the increasing adoption of high-end technologies in this region. Moreover, increasing disposable income levels for the people will further boost the market growth in this region.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Smart Vending Machine Market: Regulations
- Market Overview
- Global Smart Vending Machine Market, By Type
- Global Smart Vending Machine Market, By Product Dispensed
- Global Smart Vending Machine Market, By End Use Industry
- Global Smart Vending Machine Market, By Application
- Global Smart Vending Machine Market, By Technology
- Global Smart Vending Machine Market, By Region
- Global Smart Vending Machine Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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