Market Overview

The global Intelligent Vending Machines market was valued at USD 20.56 billion in 2022 and expected to grow at a CAGR of 14.2% during the forecast period. Intelligent vending machines are a type of vending machine that use technology to offer customers a more interactive and personalized experience. These machines typically include features such as touchscreens, cashless payment options, and real-time data monitoring.

One of the key features of intelligent vending machines is their ability to offer a wide range of products, including snacks, beverages, and even high-end products such as electronics and luxury items. These machines can be found in a variety of settings, including airports, train stations, shopping malls, and office buildings.

Intelligent vending machines typically include a range of features that enhance the customer experience, including:

Cashless payments: Many intelligent vending machines now offer cashless payment options, such as credit and debit cards, mobile payments, and digital wallets.

Personalized recommendations: Some machines use artificial intelligence (AI) and machine learning algorithms to analyze customer data and offer personalized product recommendations based on their past purchases.

Touchscreen interfaces: Intelligent vending machines often feature touchscreens that allow customers to browse products, view nutritional information, and make purchases.

Real-time monitoring: These machines are equipped with sensors that can monitor inventory levels, track sales data, and send alerts when products need to be restocked.

Remote management: Many intelligent vending machines can be remotely managed and monitored, allowing operators to adjust prices, update product offerings, and track performance metrics from a central location.

Intelligent vending machines offer a more streamlined and personalized experience for customers, while also providing operators with valuable data and insights to optimize their operations. As technology continues to evolve, these machines are expected to become even more sophisticated and widespread.

Rising demand for self-service options: Intelligent vending machines offer self-service options that provide customers with a convenient and hassle-free shopping experience. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increased demand for contactless payment and touchless product dispensing systems.

Technological advancements: Advancements in technology, such as the internet of things (IoT), artificial intelligence (AI), and machine learning, have enabled vending machines to become more intelligent and connected. This has resulted in enhanced capabilities, such as real-time inventory monitoring and personalized recommendations based on customer data.

High upfront costs: The initial investment required to purchase and install intelligent vending machines can be quite high. This can be a significant barrier to entry for small businesses or entrepreneurs who are looking to start a vending machine operation.

Maintenance costs: Intelligent vending machines require regular maintenance to ensure that they are functioning properly and providing a good customer experience. These costs can add up over time and may be a significant expense for vending machine operators.

Report Scope

Impact of COVID

The COVID-19 pandemic has had a significant impact on the intelligent vending machine industry. With the rise of social distancing measures and increased awareness of hygiene, many vending machine operators have had to adapt their offerings to meet the changing needs of customers.

One of the main impacts of the pandemic has been a shift towards contactless payment methods. Cashless payments, such as credit cards and mobile payments, have become increasingly popular as customers seek to minimize contact with high-touch surfaces. As a result, many intelligent vending machines have been equipped with contactless payment options to better serve customers.

Another impact of the pandemic has been the need to offer more sanitary product dispensing methods. Some intelligent vending machines have been equipped with touchless dispensing systems, such as foot pedals or motion sensors, to minimize contact with the machine. Others have incorporated UV-C light technology to disinfect surfaces and kill germs.

The pandemic has also led to changes in the types of products offered in vending machines. With many people working from home and avoiding public spaces, the demand for certain products has shifted. For example, there has been an increased demand for products such as personal protective equipment (PPE), hand sanitizer, and healthy snack options.

Overall, the COVID-19 pandemic has accelerated the trend towards more technology-driven and hygienic vending machine offerings. As a result, intelligent vending machine operators are likely to continue adapting their offerings to meet the changing needs of customers in a post-pandemic world.

Product Insights

In terms of product, the report segmented the market into beverages, snacks, food, and confections. Among these, beverages accounted for the largest share of the intelligent vending machines market in 2019, followed by snacks, food, and confections. The increasing demand for on-the-go refreshments and the availability of a wide range of beverages in vending machines are the key factors driving the growth of the beverage segment.

However, the report also noted that the demand for food and snack vending machines is expected to increase during the forecast period, as these machines provide a convenient and cost-effective way to access snacks and meals. Moreover, the introduction of intelligent vending machines with features such as cashless payment systems, touch screen displays, and real-time inventory tracking is expected to further boost the growth of the market.

Application Insights

Manufacturing: The manufacturing segment accounted for the largest share of the intelligent vending machines market in 2022, with a share of around 36%. The increasing adoption of vending machines in manufacturing facilities for dispensing safety equipment, tools, and other supplies is driving the growth of this segment.

Commercial malls and retail stores: The commercial malls and retail stores segment accounted for the second-largest share of the market in 2022, with a share of around 26%. The demand for vending machines in shopping malls and retail stores is increasing due to the convenience they offer to customers.

Offices: The offices segment accounted for around 22% of the intelligent vending machines market share in 2022. Vending machines are widely used in offices for providing snacks, beverages, and other refreshments to employees.

Educational institutes: The educational institutes segment accounted for the smallest share of the market in 2022, with a share of around 16%. However, the demand for vending machines in educational institutes such as schools and universities is expected to increase in the coming years, due to the convenience they offer to students.

Regional Insights

North America is currently the largest market for intelligent vending machines, with the United States being the primary contributor to the growth. The market is driven by increasing demand for convenience and self-service options, as well as technological advancements. The presence of key players in the region is also contributing to the growth of the market.

Europe is also a significant market for intelligent vending machines, with countries such as Germany, France, and the United Kingdom leading the growth. The region is driven by the increasing adoption of contactless payment methods and the trend towards healthy eating and living. The presence of a large number of vending machine manufacturers in the region is also contributing to the growth of the market.

The Asia Pacific region is expected to experience significant growth in the intelligent vending machine market, driven by increasing demand for self-service options, technological advancements, and rising urbanization. Countries such as China, Japan, and India are expected to be key contributors to the growth of the market in the region.

The Middle East and Africa region is also expected to experience growth in the intelligent vending machine market, driven by increasing adoption of self-service options and rising demand for convenience. However, the growth in the region may be limited by factors such as infrastructure challenges and low consumer awareness.

Overall, the intelligent vending machine market is expected to grow significantly across all regions, with different regions experiencing varying rates of growth and adoption. Factors such as technological advancements, rising demand for self-service options, and increasing adoption of contactless payment methods are expected to continue driving growth in the market globally.

Competitive Analysis

Some of the major companies operating within the market are Crane Co., Advantech Co. Ltd., Azkoyen Group, FAS International S.p.A., Bianchi Vending Group S.p.A, Rhea Vendors Group, N&W Global Vending S.p.A., Westomatic Vending Services Ltd., Seaga, Jofemar, Sanden Corp., Royal Vendors

Recent News

·         In January 2023, Thundercomm, the world-leading IoT product and solution provider has launched its all-new Smart Vending Machine Solution at CES 2023. This new solution will not only bring consumers a more convenient purchasing experience, but also help vending machine operators improve their operational efficiency and reduce costs.

·         In May 2022, American Green Inc. has acquired Vendweb, the North Carolina vending machine company that has been supplying American Green with its proprietary American Green Xpress (AGX) smart vending machines for the last five years.

Why to buy this Report?

The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:

§  Business Model

§  Production Capacity, Revenue, Sales, Gross Margin

§  Key Business Strategy

§  SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:

§  Company Share Analysis from 2018-2022

§  Company Analysis by Revenue and Sales

§  Company Production Capacity, Gross Margin

§  Company Share Analysis by Application/End Use

§  Company Share Analysis by Product/Specification

Frequently Asked Questions

·         What is the market size and growth projections?

·         What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?

·         What are the top performing segments, and countries / regions of each of the markets?

·         What is the market size and growth rate across key countries / regions?

·         How big is the global & regional market in terms of revenue and volume?

·         How far market will grow in forecast period in terms of revenue and volume?

·         What factors will influence demand and supply trends across each markets during the forecast period?

·         What are the technology trends shaping various markets?

·         Which country / region has more opportunities?

·         What is the COVID-19 impact on the market and how long will it take to recover?

·         Who are the key competitors of market Players?

·         What are the market share (%) of Key Players?

·         What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?

·         What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?