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Intelligent Vending Machines Market Segmented By Soft Drinks, Hot Drinks, Snack and Food, Combination Product in Commercial and Corporate Areas, Public Premises, QSR
The intelligent vending machines market was valued at US$ 22,345.1 Mn in 2022 and is expected to have grown to US$ 83,110.5 Mn by the end of 2033. The market for intelligent vending machines is estimated to valuate to US$ 24,847.8 Mn in 2023 and is predicted to grow at a CAGR of 12.8% from 2023 to 2033.
A vending machine is an appliance that dispenses items stored within it in exchange for coins or tokens inserted into it. An intelligent vending machine is a sophisticated vending machine that not only dispenses items but also engages customers through touch-screen controls, video, audio, scent, hand motion interaction, and cashless payment. An intelligent vending machine typically dispenses packaged food, beverages, and tobacco products.
Increasing adoption of Internet of Things (IoT) and connected device technologies is expected to support the growth of the intelligent vending machines market during the forecast period of 2023-2033.
Intelligent vending machines with face and voice recognition sensors assist users in product selection by recommending products based on their age and purchasing history. Furthermore, interactive touch screen display technology enables vendors to increase profits by interacting with customers' smartphones, which feature HD displays running interactive promotions, marketing advertisements, and other means to monetize third-party information. Furthermore, as communication technology advances, vending machines can communicate with vending operators by broadcasting real-time notifications via cloud technology, lowering operational and maintenance costs. Machines can communicate information such as product availability, dynamic route optimization, and increased logistics efficiencies thanks to IoT technology.
Such factors are providing lucrative environment for the adoption of intelligent vending machines systems in the coming future.
In terms of the regional market landscape, the market in North America held a leading market share of 26.5% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for intelligent vending machines in the Europe region will hold around 23.3% of the market in 2022.
| Attributes | Key Insights |
|---|---|
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Intelligent Vending Machines Market Size (2023) |
US$ 24,847.8 Mn |
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Projected Market Value (2033) |
US$ 83,110.5 Mn |
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Global Market Growth Rate (2023-2033) |
12.8% |
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Free-Standing Intelligent Vending Machines Segment Market Share (2022) |
59.3% |
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India Market Growth Rate (2022) |
13.4% |
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Intelligent Vending Machines for Malls & Retail Stores Segment Market Share (2022) |
18.1% |
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“Rising Incidences of Theft and Vandalism”
Growing vandalism of intelligent vending machines is having an impact on the global market. This is especially noticeable in developing countries. Intelligent vending machines are built for self-service and do not require professional operators. These machines have a lightweight body that is easily vandalized by criminals. As a result, the adoption of intelligent vending machines is restricted.
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Increased use of mobile payments, advancements in communication technologies, and faster internet connectivity are just a few examples. Stringent government intervention promoting energy conservation is exacerbating the deployment of these systems in U.S. Intelligent vending machines typically require a one-time lump sum investment as well as ongoing maintenance and operations costs.
Due to these factors, U.S. region is analyzed to dominate the global intelligent vending machines market with the share of 19.9% in 2022.
“Rising trend towards the adoption of automated machines”
Increased infrastructure spending, growing trend toward the use of automated machines and so on. Furthermore, higher purchasing power combined with the adoption of cutting-edge communication technologies are some of the major factors anticipated to positively impact the region's intelligent vending machine market growth.
Due to these factors the intelligent vending machines market is estimated to grow at a CAGR of 13.4% over the forecast period in India.
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“Growing installation of such self-service machines in trains in the European region”
Germany is one of the most economically significant country in Europe which holds the market share of 13.3% in the European intelligent vending machines market. In Europe, train transportation systems use a network of intelligent vending machines for food and beverages to serve passengers in the absence of staff. Customers can use facial recognition to buy products and make contactless payments at these self-service terminals are all the major factors behind the significant market share of Europe of 23.3% in the intelligent vending machines market. Furthermore, such machines foster social engagement through brand quizzes and provide customers with customised products.
Why Free-Standing Intelligent vending machines segment Have the Larger Market Share in the intelligent vending machines market?
Free-Standing Intelligent vending machines segment are analyzed to dominate the intelligent vending machines market with the share of 59.4%. The incorporation of advanced features such as product elevators, no-touch automatic delivery doors, conveyor belt delivery systems, and optional touch-free buying via cell phone increases the desirability of free-standing machines. These vending machines are linked to our vending machine control cloud, allowing you to view real-time sales data and instantly control information about the product, images, prices, and video content on the touch controls.
Why intelligent vending machines for Malls & Retail Stores have the largest market share in 2022?
Based on the end user the share of intelligent vending machines for intelligent vending machines for malls & retail Stores hold the largest share of 18.1% in 2022, owing to the factors such as the installation of intelligent vending machines in malls & retail stores ensure space conservation, cost-effectiveness and cleanliness. Furthermore, installation at these places ensure high sale as compared to other places.
Major intelligent vending machines companies are collaborating to accelerate the technological advancements in the development and adoption of the intelligent vending machines systems.
Recent developments related to key players providing intelligent vending machines market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
| Attribute | Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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In 2022, the market value of intelligent vending machines was US$ 22,345.1 Mn.
The global intelligent vending machines market is estimated to advance at a 12.8% CAGR through 2033.
The market for intelligent vending machines is forecasted to climb to US$ 83,110.5 Mn by 2033 end.
Demand for Intelligent vending machines market in India is projected to rise at a CAGR of 13.4% over the forecast period.
In 2022, the North America Intelligent vending machines market held a dominant market share of 26.5%.
