Vending Machine Market Forecast, Size and Share 2023-2028 (2023)

Market overview:

The size of the global vending machine market reached USD 19.5 billion in 2022. Looking ahead, IMARC Group expects the market to reach USD 26.4 billion by 2028, which is expected to show a growth rate (CAGR ) of 5% during the period 2023-2028.

A vending machine is a self-contained, self-contained device that dispenses small items in exchange for tokens or cash. It is used to dispense grocery products such as packaged snacks, chocolate bars, cupcakes, pizza, hot and cold drinks, and candy. They are also used to deliver toys, newspapers, cigarettes, and tickets. Products are loaded into the machine and are available for purchase around the clock. The machine dispenses the product corresponding to the item number or button selected by the consumer. It also consists of bill and coin validators, computer control panels, refrigeration units and lighting systems to automate the sales process and provide a seamless user experience. As a result, vending machines are widely used in public spaces, shopping malls, restaurants, and hotels.

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Vending Machine Market Trends:

The significant growth of the retail sector worldwide is one of the main factors creating a positive outlook for the market. In addition, the growing need for automated product distribution systems in airports, hospitals, school canteens, train and service stations, and industrial facilities is driving market growth. Several technological advances, such as the development of reverse vending machines (RVMs), act as additional growth drivers. In these machines, the customer can insert used or empty plastic containers and aluminum cans for a premium. Product manufacturers are also launching new variants with integrated touchscreen panels, gesture-based audio, video, and olfactory interactions, and cashless payment options. Consequently, the cross-industry adoption of self-service technology is also contributing to the growth of the market. Other factors, including rising consumer purchasing power, coupled with growing demand for the Internet of Things (IoT) and cloud computing-enabled vending machines, are likely to drive market growth.

Key market segmentation:

IMARC Group provides analysis of the key trends in each sub-segment of the global Vending Machines market report along with global, regional, and country-level forecasts for 2023-2028. Our report has classified the market by type, technology, payment mode, and application.

Breakdown by type:

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• food vending machine
• Vending machine
• cigarette machine
• Others
  

Breakdown by technology:

• automatic machine
• semi automatic machine
• smart machine
  

Breakdown by payment method:

• Money
• penniless
  

Breakdown by application:

• Hotels and restaurants
• corporate offices
• Public places
• Others
  

Breakdown by region:

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• North America
  • EU
  • Have
• Pacific Asia
  • Porcelain
  • Japan
  • And
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europa
  • Germany
  • France
  • Britain
  • Italia
  • spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
  

Competition scenario:

The competitive landscape of the industry has also been studied along with the profiles of the major players, namely Azkoyen Group, Bianchi Industry S.p.A., Cantaloupe Inc., Crane Co., Fuji Electric Co. Ltd., Glory Ltd., Jofemar Corporation , Orasesta Spa, Royal Vendors Inc., Sanden Holdings Corporation, Seaga Manufacturing Inc., Selecta AG and Westomatic Vending Services Ltd.

Report Coverage:

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