Global Smart Vending Machines Market Scenario, Leading
According to Market Statsville Group (MSG), the global smart vending machine market size is expected to grow from USD 19,322 million in 2021 to USD 58,441.4 million by 2030, at a CAGR of 10.1% during the forecast period (2022-2030). Growing demand for UI-based transactions is driving the global smart vending machine market. Additionally, an increase in the use of contactless transactions, increased reliance on ATM cards and mobile banking, as well as rapid digitization of payment procedures, are factors increasing the growth of the global market. This technique is mainly used in industrialized countries. The smart vending machine business is still in its infancy globally, with a major proportion in developed countries. Additionally, technological development and changes in consumer shopping habits with an increasing preference for self-driving operations are expected to pave the way for significant future growth.
Global smart vending machine market definition
A vending machine dispenses products from its inventory in exchange for cash or tokens. A smart vending machine is a type of vending machine that uses touchscreen controls, video, audio, gesture-based interaction, and cashless payment to dispense products and engage customers. Typical products dispensed by a smart vending machine include packaged foods, beverages, and tobacco products, among others.
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Impact of COVID-19 on the Global Smart Vending Machines Market
The COVID-19 pandemic had a temporary adverse influence on the industry and sales fell slightly in the first half of 2020 due to government-imposed containment measures. The purchasing power of customers has been affected by the temporary closure of outlets, shopping malls and supermarkets during the COVID-19 pandemic. With the easing of containment measures in the second half of 2020, the market gained ground. Businesses provided hygienic items such as face masks, which fueled market demand. For example, Fuji Electric Co., Ltd. created a smart vending machine in 2020 that provides hygienic supplies like masks, tissues and disinfectant sprays.
Scope of the global smart vending machine market
The study categorizes the smart vending machine market based on the product dispensed, type of machine, and application regionally and globally.
By Machine Type (Revenue, USD Million, 2017-2030)
By Distributed Product (Revenue, USD Million, 2017-2030)
Savory and Salty Snacks
By Application (Revenue, USD Million, 2017-2030)
Public transport platforms
QSR (Quick Service Restaurant)
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By Region (Revenue, USD Million, 2017-2030)
The rest of Europe
Australia and New Zealand
Rest of Asia-Pacific
Rest of South America
The Middle East and Africa
United Arab Emirates
Rest of MEA
Beverage segment expected to account for largest market share, by application
In 2021, the beverage segment accounted for the largest market share in the global smart vending machine market. Strong beverage sales in countries such as Spain, Germany and the UK contributed to sector growth. The large number of visits by individuals to the points of sale is another factor leading to an increase in engagement with end customers. As a result, the number of people using smart vending machines at these locations is significantly high. This increases the utility and demand for these devices, resulting in more units being deployed to these locations around the world.
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North America accounts for the highest CAGR during the forecast period
Based on the regional analysis, the global smart vending machine market has been segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. North America held the major share, in terms of revenue, of the global market in 2021 and is expected to maintain its position by showing a considerable CAGR during the forecast period. Popularity of vending machines, concentration of manufacturers and retailers, tech-savvy buyers and ease of use of vending machines are some factors contributing to the expansion of smart vending machine market in North America during the forecast period.
Global Smart Vending Machines Market Players
The global smart vending machine market is moderately competitive with major industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most of the companies in the market are focused on expanding operations across regions, increasing their capabilities, and building strong relationships with partners.
Key Players of the Global Smart Vending Machines Market are:
FAS INTERNATIONAL SRL
Fuji Electric Co., Ltd.
Canteen, Ingenico SA
Westomatic Vending Services Ltd.
Royal Sellers, Inc.
Digital Media Vending International LLC
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