Global Smart Vending Machine Market – Industry Trends and Forecast to 2030

Global Smart Vending Machine Market, By Type (Retail Vending Machine, Self Service, A.T.M.), Product Dispensed (Salty and Savory Snacks, Bakery Products, Confectionery Products, Beverages, Others), End Use Industry (Retail Industry, Entertainment and Hospitality, Medical, Quick-Service Restaurant, Shopping Centers, Transportation/Public Transport, Others), Application (Manufacturing, Retail Stores, Offices, Educational Institutes, Others), Technology (Саѕhlеѕѕ Ѕуѕtеmѕ, Теlеmеtrу Ѕуѕtеmѕ, Vоісе Rесоgnіtіоn)  – Industry Trends and Forecast to 2030.

Smart Vending Machine Market Analysis and Size

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.

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.     

Smart Vending Machine Market Scope and Segmentation

Market Definition

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.

Global Smart Vending Machine Market Dynamics

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 likely to boost the market growth because of  ease of use in vending products and increasing preference for the 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.

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.

Restraints/ Challenges

• High cost associated with smart vending machine

The initial cost of the smart vending machine is much higher than the conventional vending machine because smart vending machines have different and advanced features such as artificial intelligence (A.I.) driven interface, fast transactions, touchpads, and many more. Therefore, such a factor hamper the market growth.

• Security issues associated with smart vending machine

Various security issues are associated with smart vending machines, such as burglary and vandalism. These issues are very common throughout the globe, which is likely to hamper the growth of the global smart vending machines market during the forecast period

This smart vending machine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart vending machine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

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.

Global Smart Vending Machine Market Scope

The smart vending machine market is segmented on the basis of type, product dispensed, end use industry, application and technology. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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
• Others

End Use Industry

• Retail Industry
• Entertainment and Hospitality
• Medical
• Quick-Service Restaurant
• Shopping Centers
• Transportation/Public Transport
• Others

 Application

• Manufacturing
• Retail Stores
• Offices
• Educational Institutes
• Others

Technology

• Саѕhlеѕѕ Ѕуѕtеmѕ
• Теlеmеtrу Ѕуѕtеmѕ
• Vоісе Rесоgnіtіоn

Smart Vending Machine Market Regional Analysis/Insights

The smart vending machine market is analyzed and market size insights and trends are provided by country, type, product dispensed, end use industry, application and technology as referenced above.

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.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Smart Vending Machine Market Share Analysis

The smart vending machine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart vending machine market.

Some of the major players operating in the smart vending machine market are:

• 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),