Smart Vending Machine Market

Smart Vending Machine Market Size, Share, Growth (2023-2028)

Smart Vending Machine Market was at USD 24.38 billion in 2023 to USD 44.93 billion by 2028 with a CAGR of 13% throughout the foreseen period 2023 - 2028

Smart Vending Machine Market Overview:

The Smart Vending Machine industry is undergoing a massive change by using smart system technologies to install touch screens and remote management software to go far beyond simple food and beverage dispensing. It's the one with an LCD screen for interaction and a large tabletop vending machine that has enough area to possibly support 6-14 inch LCD screens. The integration of features such as facial recognition and voice that enables communication between the vending machine and the consumer drives the industry's growth forecasts. These features add intelligence to systems by detecting and responding to users and provide a visual experience with interactive promotions. Intelligent distribution systems help to better understand consumer behavior and preferences. Interactive LCDs allow vendors to generate more revenue by displaying advertisements and loyalty programs. Office sales systems must increase motivation by allowing employees to have a quick snack between breaks without having to.

Recent Developments in Smart Vending Machine Industry:

1. In October 2015, Bianchi Vending SpA acquired Brasilia, a manufacturer of espresso coffee machines, to strengthen its activity in the hotel, restaurant and catering sector (HORECA), which ensures the supply of bars, restaurants, catering businesses and hotels.

2. Big Basket is in planning to produce a majority portion of Kwik24, a smart vending machine start-up in Bengaluru, India. The Bengaluru-based company is also in talks to acquire the RainCan milk distribution company and is ready to venture into drug distribution through a possible acquisition. The Alibaba-backed company, which has already started a pilot project with Kwik24 to implement smart vending machines in five apartment buildings in Bangalore as part of BigBasket's BB Instant service, is likely considering acquiring a stake in Kwik24 to increase its reach to customers offline clients.

Smart Vending Machine Market  Drivers and Restraints:

The business sector uses advanced and innovative strategies to optimize the office environment for employees. More commonly known as Office Coffee Service (OCS), these machines are primarily preferred by businesses to provide fresh, healthy, and light snacks during office hours.

Incorporating smart technology into these machines will help offices track individual orders and the employees who consume the products. Globally, growing business demand is driving the market for smart vending machines. Applications of smart vending machines have increased dramatically in recent years in commercial and public places. Airports, train stations, bus stations, shopping malls, hospitals, universities, and offices are the most common places where these smart vending machines can be found. The increasing adoption of automated systems is acting as a propellant to the expansion of the global smart vending machine business. Manufacturers of smart vending machines are developing energy-efficient solutions to reduce the carbon footprint of these machines. Popular beverage brand Coca-Cola is developing smart, recycled and eco-friendly vending machines with sustainable technology that can balance environmental impact. Manufacturers are trying to incorporate a cashless payment solution into smart vending machines. They integrate connected solutions in vending machines to obtain transactional and consumer data in real-time. In anticipation of strong digitization, cashless payment technology in smart vending machines will undoubtedly increase revenue in the global smart vending machine market. However, regulations on the sale of junk food and tobacco products are holding back the growth of this market. This technology is implemented mainly in developed countries. The market for smart vending machines is currently in its early stages. However, technological advances and changes in consumer buying habits are supposed to usher in rapid growth in the future.

Smart Vending Machine Market  Segmentation:

Smart vending machine market is segmented based on the

• type

• application

• technology

By type 

• beverages

• snacks

• commodities

by application

• fast-food restaurants

• shopping malls

• retail stores

• public transportation

• airports

• hospitals

• hotels

• train stations

By technology,

• cashless systems

• telemetry systems

• voice recognition

Smart Vending Machine Market Regional Analysis:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Revenues from the smart vending machine market in North America are growing strongly due to the growing demand for self-service technologies at the point of sale to automate the sales process. Points of sale in the United States and Canada have witnessed rapid adoption of these systems in various application areas, including supermarkets, retail stores, shopping malls, etc. Technological advancements and innovations in these systems help automate business processes in your application segments. Additionally, favorable initiatives and demand for a better customer experience will drive demand from the regional market. The growth of tourism in countries such as the United Arab Emirates, Saudi Arabia and South Africa has led to a large number of infrastructure development projects in the Middle East and Africa to adapt to the latest technology solutions and trends. These include developments in the design and modernization of stores with machines adapted to the needs of consumers. 

Smart Vending Machine Market Key Players

1. Royal Vendors

2. Westomatic Vending Services Ltd.

3. Intel Corporation

4. Azkoyen Group

5. Crane Co.

6. Ingenico S.A.

7. Canteen, Glory Ltd.

8. Fuji Electric Co., Ltd.

9. FAS International S.P.A