[179+ Pages Research Report] Global Smart Vending Machine Market to surpass USD 20.21 billion by 2030 from USD 7.95 billion in 2020 at a CAGR of 16.7% in the coming years, i.e., 2021-30.
Product Overview
A vending machine is a machine that distributes objects from its inventory in exchange for coins or tokens inserted into it. A smart vending machine is an automated vending machine that engages customers with touch-screen controls, video, audio, fragrance, gesture-based communication, and cashless payment in addition to distributing products. An intelligent vending machine typically dispenses things like frozen food, beverages, and tobacco products.
Market Highlights
Global Smart Vending Machine market is expected to project a notable CAGR of 16.7% in 2030.
The global intelligent vending machine market is driven by an increase in demand for UI-based transactions, which is balanced by an increase in the use of cashless transactions, the trend of instant gratification, an increase in reliance on ATM cards and mobile banking, rapid digitization, and internet penetration around the world.
Global Smart Vending Machine Market: Segments
Packaged drinks segment to grow with the highest CAGR during 2020-30
Global Smart Vending Machine market is segmented by type into Hot drinks, Snacks, Packaged drinks, and Others. Packaged drinks segment held the largest market share in the year 2020 as a result of the growing focus on safe vending Packaged beverages such as soda, water, milk, flavored waters, and energy drinks, among others, make up the majority of this category. Consumers are still on the lookout for new packaged drinks that are low in calories and fit into their healthier lifestyles. The availability of packaged beverages in tetra packs and multi-layered aseptic cartons is increasing packaged drink adoption.
QSRs, shopping malls, and retail stores segment to grow with the highest CAGR during 2020-30
Global Smart Vending Machine market is divided by application into QSR, shopping malls, and retail stores, Offices, Public transport, and Others. Over the forecast period, the QSRs, shopping malls, and retail stores segment is projected to expand at the fastest pace. During the forecast era, QSRs, shopping malls, and retail stores are expected to dominate the application category. Although, the use of vending machines in places like offices is gaining popularity. The use of these devices in office buildings has a number of advantages, including room savings, cost-effectiveness, and cleanliness.
Market Dynamics
Drivers
Shifting Tastes and Increase in Tourism and Public Transportation
The shifting tastes, proclivities, and curiosity of shoppers drive the evolution of the intelligent machines industry. Intelligent vending machine manufacturers have set their sights on new forms of machine-human interaction. As a result, new gesture-based technology, touch screen controls, video technologies, and a cashless payment mechanism have been introduced. They're also interested in enhancing the overall dispensing experience, with Smart Vending Machines being an increasingly popular platform for product promotion. To improve commuters' travel experiences, smart vending machines are being installed in public transportation such as buses and trains. The Smart Vending Machines Market is benefiting from an increase in tourism and commuting choices thanks to public transportation.
Consumers Growing Preference for Cashless Payments and Reduced Operating Cost
Consumers' growing preference for cashless payments is also contributing to the industry's rapid expansion. Cashless, near-field communication (NFC), and mobile payment protocols are expected to have a positive effect on the industry. Face and voice recognition, for example, are being used in dispensing systems as a result of technological advancements. Users can benefit from machines that have face and voice recognition sensors because they can recommend items based on their age and gender. Vendors are focusing their efforts on deploying interactive dispensing systems in order to increase revenue through advertisements and the display of other information and news. Furthermore, since the devices can be operated from afar, they help to reduce operating costs by removing the need for a computer manager's interference.
Restraint
Government Regulations and Expensive Production
Growing regulations governing the selling of snack food in public places like schools, as well as the prohibition of potentially dangerous confectionery items like cigarettes and tobacco, are expected to stifle market growth. Furthermore, the production and implementation of these devices are both expensive, which has an effect on vendor interest.
Global Smart Vending Machine Market: Key Players
Continental Vending, Inc.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Sanden Holdings Corporation
Azkoyen Vending Systems
American Vending Machines
Bulk Vending Systems
Automated Merchandising Systems
Evoka Group, Bianchi Industry SpA
Crane Merchandising Systems
Other Prominent Players
Global Smart Vending Machine Market: Regions
Global Smart Vending Machine market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa.
Global Smart Vending Machine in North America held the largest market share in the year 2020 as a result of an increase in demand for self-service solutions in retail outlets to simplify the sales process Supermarkets, department stores, shopping centers, and other retail outlets in the United States and Canada have seen the rapid implementation of these devices across a variety of application areas. These systems' technological advances and developments help to automate business processes in their application segments. Furthermore, favorable policies and a desire for better customer service would boost regional market demand.
Global Smart Vending Machine Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Smart Vending Machine Market report also contains analysis on:
Smart Vending Machine Market Segments:
By Type
Hot drinks
Snacks
Packaged drinks
Others
By Application
QSR, shopping malls, and retail stores
Offices
Public transport
Others
Smart Vending Machine Market Dynamics
Smart Vending Machine Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Smart Vending Machine Market Report Scope and Segmentation
Frequently Asked Questions
How big is the Smart Vending Machine market
What is the Smart Vending Machine market growth
Which segment accounted for the largest Smart Vending Machine market share
Who are the key players in the Smart Vending Machine market
What are the factors driving the Smart Vending Machine market
Contents
Executive Summary
Global Smart Vending Machine Market
Product Overview
Market Definition
Segmentation
Assumptions and Acronyms
Research Methodology
Research Objectives
Primary Research
Secondary Research
Forecast Model
Market Size Estimation
Average Pricing Analysis
Macro-Economic Indicators
Market Dynamics
Growth Drivers
Restraints
Opportunity
Trends
Correlation & Regression Analysis
Correlation Matrix
Regression Matrix
Recent Development, Policies & Regulatory Landscape
Risk Analysis
Demand Risk Analysis
Supply Risk Analysis
Global Smart Vending Machine Market Analysis
Porters Five Forces
Threat of New Entrants
Bargaining Power of Suppliers
Threat of Substitutes
Rivalry
PEST Analysis
Political
Economic
Social
Technological
Global Smart Vending Machine Market
Market Size & forecast, 2020A-2030F
By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
By Volume (Billion Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Global Smart Vending Machine Market: Market Segmentation
By Regions
North America:(U.S. and Canada), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
By Type: Market Share (2020-2030F)
Hot drinks, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Snacks, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Packaged drinks, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Others, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
By Application: Market Share (2020-2030F)
QSR, Shopping Malls, and Retail Stores, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Offices, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Public transport, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Others, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Company Profile
Continental Vending, Inc.
Company Overview
Company Total Revenue (Financials)
Market Potential
Global Presence
Key Performance Indicators
SWOT Analysis
Product Launch
Sanden Holdings Corporation
Azkoyen Vending Systems
American Vending Machines
Bulk Vending Systems
Automated Merchandising Systems
Evoke Group, Bianchi Industry SpA
Crane Merchandising Systems
Other Prominent Players
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
Historical Data (2015-2019) |
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Influencing Factors |
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Market Forecast (2021-2026) |
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
Market Size |
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Market Position of Top Company |
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Qualitative Analysis |
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
Primary Sources | Parameters | Key Data |
Market Segments(by Application, by Type) |
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Total Market |
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