A smart vending machine is an automated machine that provides products to the consumer without the involvement of staff or human assistance. Technological advancement in the vending machine market in terms of gesture sensing, cashless payment, NFC, touch panel and many more has made the machine more consumers friendly which is considered as the key driving factor for the growth of the market. Moreover, growing automated retailing is further fuelling the demand for smart vending machines during the forecast period. However, rising security and privacy concerns are expected to restrain the growth of the market.
The global smart vending machine market is expected to grow at a fast pace with a CAGR of 16.90% to achieve a market size of USD16.849 billion in 2024. Geographically, the North American region is expected to hold a significant market share due to the early adoption of technology followed by the Asia Pacific region, which is expected to be the fastest-growing.
The Smart Vending Machine Market – Forecasts from 2019 to 2024 is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, component, platform and geography.
The smart vending machine market has been segmented based on product, end-user, and geography. Based on product, the market has been segmented into food, beverage, and other product By end-user, the market has been segmented into airports/railway stations, malls and retail stores, commercial and corporate area, and others.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the smart vending machine market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the smart vending machine market.
The smart vending machine market has been analyzed through the following segments: