Global Vending Machines Market - By Application Outlook (Commercial Places, Offices, Public Places, and Others), By Payment Mode Outlook (Cash and Cashless) & By Region – Industry Analysis on Size, Share, Trends & Forecast | 2024 to 2029

Published: January, 2024
ID: 9356
Pages: 100

Vending Machines Market Size, Share & Forecast (2021 - 2026)

The size and share of Global Vending Machines Market is estimated to grow in a significant way. The growth of this market is anticipated to record a CAGR of 9% over the estimated period.

Vending machines are automated machines that provide the items mostly like beverages, snacks, cigarettes, and others to consumers when the money, a credit card, or a specially designed card is inserted into the machine as payments. The technological advancements in the vending machine are making them possible to provide different products compared to traditional vending machine items that have been created.

The growth of the global vending machines market is attributed to the advanced machining and ease of vending in assisting in storing food commodities in the fresh atmosphere for shielding it from being invaded by micro-organisms and certain bacteria. Also, some of these machines been rendering the clients with the option of internet connectivity and the online shopping support for goods with the utilization of the smartphone, interface between user and device which are compatible is fuelling the growth of the global vending machine market. Also, most of the companies in the target market are blending their vending machines to enable cashless payment techniques. 

The adaptability and installation of these vending machines, irrespective of their positions such as indoor or outdoor owing to need of their operations 24/7 without the interference of any hand-operations, is delivering them an ideal place to use in jobs and business and government sectors. These machines are also useful to help conserve work expenses, which is also a growth factor of the vending machine market. Also, factors such as lower costs, reduced reliance on retailers, and rising demand for a continuous supply of goods and services are the major factors that are driving the target market growth. These machines also help in improving profit margins and to reduce labor costs and downtime.

Recent Developments

  • The chief executive officer of N&W Global Vending, Andrea Zocchi, has announced the name change/re-branding their company's name as EVOCA S.p.A. This announcement was made by messaging their customers which coincides with the unveiling of the company's coffee focused global business strategy.
  • Continental Services, a Troy-based food management company, has acquired the Northern Vending Co., a Pittsfield Township-based vending machine supplier, completing its sixth acquisition for a couple of years.  

Drivers of Vending Machine Market

Vending machines in the industrial sector can allow the optimization of the allocation of adhesive tapes and other engineering products. They can be used in public places like train stations for perfumes beverages, and foods, etc., which would further stimulate the market. The vending machine allows to reduce the waste of these products and can get recognized as a prominent device in the retail market worldwide. Due to the rising usage of these vending machines in the industrial and commercial sectors in day-to-day basis needs and for food and beverage products is driving the market.

Technological advancements are encouraging end-users to replace their existing vending machines with smart and intelligent devices. The latest vending machines are being upgraded with features like cashless payments, LCDs, software updates, integration of Big Data and IoT, and others to transform them into technologically advanced machines. The growing demand for retrofitting is supposed to boost the growth of the global vending machines market during the outlook period. And the rise of the ATM market owing to the cashless payment by debit card, credit card, smartphone, mobile, and near-field communications is increasing the market boom.

Challenges of Vending Machine Market

But the stringent regulations against junk food as well as on tobacco usage are the major challenges that are hindering the vending machine market. Also, low return on investment (ROI) prices of rental space and low operating costs are preventing the investments from the companies the vending machines market, which is hampering the market growth.

Opportunities of Vending Machine Market

However, constructing the vending machines which can be used by the blind and disabled people would create growth opportunity for manufacturers in the next few years.

This report includes the segmentation and sub-segmentation of the Vending Machines Market until 2025.

Vending Machines Market – By Application Outlook

  • Commercial Places
  • Offices
  • Public Places
  • Others

In the application segmentation of the global vending machines markets, the office application segment held the majority of the market share. It is also expected that this segment is going to be the fastest growing owing to the rising manufacturing and corporate sectors across the globe.

The extensive usage of these vending machines in offices for saving spaces and costs and to maintain cleanliness coupled with the applications of these machines in commercial places are attributing to having significant growth of this segment during the forecasted period. Also, an increasing number of commercial projects across the world and the hotels, clubs, colleges, hospitals, etc., are propelling the growth of other sectors.

Vending Machines Market – By Payment Mode Outlook 

  • Cash
  • Cashless

And in the payment mode outlook of the global vending machine market, the cash payment mode is likely to be the largest segment during the projected period. The growth of this segment owes to the presence of the vending machines that are mostly having the cash as the only payment option and the inexpensive nature when compared to the installation of devices featuring cashless vending machines.

Vending Machines Market - By End-User

  • QSR, Shopping Malls, & Retail Stores
  • Offices
  • Public Transport
  • Others

All the end-user segments are foreseen to account for a notable growth rate in the estimated period.

Vending Machines Market – By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

In the regional analysis of the global vending machines market, Asia Pacific, Europe, and Latin America are the regions that are supposed to record the higher CAGR during the forecast period. The North American area has acquired the significant share of the vending machines market in terms of revenues, holding the stock of around 41% owing to the presence of the most OEMs in this region. But the Asia-Pacific region is estimated to witness the fastest growth recording a CAGR of 10.3% during the forecast period. The growth of this region is attributed to the presence of several OEMs in China and Japan.

Key Players of Global Vending Machines Market:

  1. American Vending Machines
  2. Automated Merchandising Systems
  3. Azkoyen Vending Systems
  4. Bianchi Industry SpA
  5. Bulk Vending Systems
  6. Continental Vending
  7. Evoka Group
  8. Crane Merchandising Systems Inc
  9. Fuji Electric Co., Ltd
  10. Sanden Holdings Corporation
  11. Cantaloupe Systems
  12. Westomatic Vending Services Ltd.
  13. Royal Vendors, Inc.
  14. Glory Ltd.
  15. Seaga Manufacturing, Inc.
  16. Orasesta S.p.A.
  17. Sellmat S.r.l.

 

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