Intelligent Vending Machine Market Size AndForecast
IntelligentVending Machine Market was valued at USD 5.20 Billion in 2020 and is projectedto reach USD14.18 Billion by 2028, growing at a CAGR of 13.3% from 2021 to2028.

The increasingpenetration of the Internet of Things (IoT) and connected device technologiesis anticipated to bolster the growth of the Intelligent Vending MachinesMarket. The rising favorability of consumers toward cashless payments isfurther accelerating the industry’s growth. Protocols for cashless, near-fieldcommunication (NFC), and mobile payments are presumed to favorably impact theindustry. Technological advancement is leading to the adoption of innovativetechniques, such as biometric, face and voice recognition, in dispensingsystems. The Global Intelligent Vending Machine Market report provides aholistic evaluation of the market. The report offers a comprehensive analysisof key segments, trends, drivers, restraints, competitive landscape, andfactors that are playing a substantial role in the market.

Intelligent Vending Machine Market Size AndForecast
IntelligentVending Machine Market was valued at USD 5.20 Billion in 2020 and is projectedto reach USD14.18 Billion by 2028, growing at a CAGR of 13.3% from 2021 to2028.

The increasingpenetration of the Internet of Things (IoT) and connected device technologiesis anticipated to bolster the growth of the Intelligent Vending MachinesMarket. The rising favorability of consumers toward cashless payments isfurther accelerating the industry’s growth. Protocols for cashless, near-fieldcommunication (NFC), and mobile payments are presumed to favorably impact theindustry. Technological advancement is leading to the adoption of innovativetechniques, such as biometric, face and voice recognition, in dispensingsystems. The Global Intelligent Vending Machine Market report provides aholistic evaluation of the market. The report offers a comprehensive analysisof key segments, trends, drivers, restraints, competitive landscape, andfactors that are playing a substantial role in the market.

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The machinehelps to store food products in a fresh environment to protect them from beingattacked by several bacteria and micro-organisms. These machines are developedwith smart technologies that adjust the internal environment based on productsthat are stored in them. The products include fruits, snacks, chocolates, andcookies, among others. These types of machines are experiencing high adoptionin retail & restaurant outlets owing to their ability to serve customerswith fresh offerings. Such advanced features are guiding the application areasof these machines, thereby providing momentum to market growth.

GlobalIntelligent Vending Machine Market Overview
The globalIntelligent Vending Machine Market is driven by an increase in demand forUI-based transactions and is furthered by rising in the usage of cashlesspayments, rapid digitization and penetration of the internet across the globe.Also, personally owned devices such as smartphone enable applications forpayment with improvised security in such payment modules are building on towardthe growth of the market. Preference of adolescents and adults for instantrefreshment and increasing penetration of self-service technology has nudgedthem to use such vending machines.

Rising securityissues are hampering the growth of the Intelligent Vending Machine Market asretail store owners remain worried about protecting their products from theftand robbery. There are chances of potential security risks such as systemfailures, system hacking, outsourcing of private information of the consumers.However, the increasing regulations about the sale of junk food at avenues suchas schools are estimated to hinder the market growth. The high cost ofIntelligent Vending Machines coupled with high cost regarding maintenance andenergy consumption are some of the key factors expected to hamper the growth ofthe global Intelligent Vending Machine Market over the forecast period.Moreover, the manufacturing and stationing of these machines are acost-intensive affair, which subsequently affects the retailers’ interest.

5G networks havea greater capacity to support the growth of the market in future with theadaptation of technologies such as artificial intelligence, mobile, cloud andautomation. These factors are expected to create demand for the vending machinein various developing countries over the forecast period. Technology might helpshoot up the sales by aiding in real-time inventory management and predictingand understanding customer’s buying pattern.

GlobalIntelligent Vending Machine Market: Segmentation Analysis
The GlobalIntelligent Vending Machine Market is segmented based on Product Type,End-User, and Geography.

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IntelligentVending Machine Market, By Product Type
• PackagedDrinks
• Snack and Food
• Combination (Food and Beverages)

Based on ProductType, the market is classified into the packaged drink, snack and food andcombination (food and beverages). Packaged drinks Intelligent Vending Machineaccounted for the highest market share and is anticipated to dominate themarket during the forecast period. The segment mainly comprises packaged drinkssuch as juice, water, milk, flavored waters, and energy drinks, among others.Increasing consumption of alcoholic and non-alcoholic beverages globally is oneof the major factor expected to propel the growth of the global IntelligentVending Machine Market over the forecast period

IntelligentVending Machine Market, By End-User
• Commercial andCorporate Areas
• Public Premises
• QSR (Quick Service Restaurants)
• Malls and Retail Stores

Based onEnd-User, the market is divided into a commercial and corporate area, publicpremises, QSR (Quick Service Restaurants) and malls and retail stores. Thecommercial and corporate area segment accounts for the highest market growthrate. The utilization of these systems at office buildings presents severalbenefits, such as space conservation, cost-effectiveness, and cleanliness.

IntelligentVending Machine Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world

Based onregional analysis, the Global Intelligent Vending Machine Market is classifiedinto North America, Europe, Asia Pacific, and the Rest of the world. NorthAmerica accounted for the highest market share in the Global IntelligentVending Machine Market. This growth is attributed to the rapid adoption ofself-service technology and the emergence of new business models. Policiespromoting energy conservation are accelerating the deployment of vendingmachines. Whereas, the Asia Pacific region is the highest growing market duringthe projected forecast period.

KeyPlayers In Intelligent Vending Machine Market
The “GlobalIntelligent Vending Machine Market” study report will provide a valuableinsight with an emphasis on the global market. The major players in the marketare Azkoyen SA, CompassGroup USA Inc., Crane Co., FAS International, Fuji Electric Co. Ltd., GLORYLtd., Ingenico Group SA, R.S. Hughes Co., Inc., Royal Vendors Inc. andWestomatic Vending Services Ltd. The competitivelandscape section also includes key development strategies, market share, andmarket ranking analysis of the above-mentioned players globally.

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