Smart Vending Machine Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (QSR, Shopping Centers, Public Transport, Others), By Product Dispensed (Salty And Sour Snacks, Bakery Products, Confectionery Products, Beverages, Others), And By Geography - Forecasts From 2022 To 2027

Published:  Mar 2022 Report Code: KSI061612083 Pages: 128

The global smart vending machines market is expected to grow at a CAGR of 13.30% from the market value of US$4.807 billion in 2020 to reach up to US$11.522 billion in 2027.

The global smart vending machine market growth is attributed to the increase in demand for cashless transactions, rapid digitization, a surge in dependency on ATMs and the penetration of the internet across the globe. An SVM is a device that dispenses items such as packaged foods, beverages, or tobacco products stored inside it in exchange for cash and tokens or coins. Key players operating in the market are aiming at new ways of machine-human interaction. They are making efforts to incorporate new gesture-based technologies like touch screen controls, video technology, and cashless payment mechanisms. They are also trying to improve the overall dispense experience with the smart vending machine.

The smart vending machines are being used to validate tickets that are used in situations when they have been purchased in advance to be used later. Factors such as low manpower costs, improved efficiency, less operational time, and developed transport infrastructure and security systems are expected to drive the growth of the global smart vending machine market. For instance, Metrolink, a US-based rail authority, has installed 133 new ticket machines at its stations in Southern California. The installed machines are expected to increase the customer experience by providing them with better reliability and accessibility, as well as smarter features such as touchscreens. Northern, a UK-based train operating company, installs new ticket vending machines at more than 400 locations. The company initially planned to install 600 new ticket vending machines across the country as part of its wide-ranging modernization plan but has installed 621 new machines. The global smart vending machine market growth is attributed to the increase in demand for cashless transactions, rapid digitization, the surge in dependency on ATMs and the penetration of the internet across the globe. SVM is a device that dispenses items such as packaged foods, beverages, or tobacco products stored inside it in exchange for cash and tokens or coins. Key players operating in the market are aiming at new ways of machine-human interaction. They are making efforts to incorporate new gesture-based technologies like touch screen controls, video technology, and cashless payment mechanisms. They are also trying to improve the overall dispense experience with smart vending machines.

Smart Vending Machine Market Drivers

  • Tech-savvy trends and rapid consumerism

One of the prime reasons supporting the growth of the smart vending machine market is the rising tech-savvy trends and rapid consumerism. The market is growing owing to the integration of intelligent systems to set up remote management software and touch-enabled screens. To enhance the services of traditional vending machines.  For instance, Cherise,  an Indian startup, enters smart vending by launching IoT-enabled tea vending kiosks. The Cherise Smart Vending machines dispense a variety of products such as teas, coffees and soups from their collection. UK retailer Co-op has come into partnership with Unilever to launch a new smart ice cream vending machine in its Battersea Bridge Road store in London. Transport for Wales (TfW) in the UK has started the installation of new ticket vending machines and operating smartcards across the Wales and Borders network routes. This new technology will provide contactless ticket buying options, which will enhance the safety of the passengers from COVID-19.

  • Increasing cashless transactions

Rising government initiatives and other cashless campaigns for making cashless transactions are driving the use of UPI payments or the use of cards, which is expected to further drive the overall market growth during the forecast period. For instance, Mastercard launched a campaign called Team Cashless India. Under this campaign, Mastercard volunteers interacted with merchants and consumers to spread the importance of digital transactions. Such initiatives are anticipated to increase the installation of smart vending machines across developing economies worldwide. Hindustan Unilever, in partnership with Reliance Retail, has launched its new in-store vending machine “Smart-Fill”. The machine has been placed in Reliance Smart Acme Mall, Mumbai. Chulalongkorn University’s Faculty of Medicine and King Chulalongkorn Memorial Hospital, in collaboration with Thailand vending machine company, have launched automatic vending machines selling Chula medical innovations. HempBox and High Street CBD are planning to place smart vending machines in outlet centres in Tanger, North Carolina.   

Covid-19 Insights

COVID-19 The pandemic has slightly impacted the growth of the smart vending machine market. Due to the pandemic, the governments of various countries imposed a travel ban and several restrictions, such as the shutdown of supermarkets, malls, and other business sectors. Lockdown restrictions have had a minor impact on overall market growth, as demand from existing markets and malls has been reduced, and new projects to install vending machines have been halted. However, with the relaxation of restrictions by the end of 2020, the market experienced rapid growth.

Smart Vending Machine Market Scope:

Report Metric Details
 Market size value in 2020  US$4.807 billion
 Market size value in 2027  US$11.522 billion
 Growth Rate  CAGR of 13.30% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Application, Product Dispensed, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Fuji Electric Co. Ltd., Glory Ltd., Canteen, Ingenico S.A., Intel Corporation, Westomatic Vending Services Ltd., Royal Vendors, Inc., Azkoyen Group, Crane Co., FAS International S.P.A.
 Customization scope  Free report customization with purchase

 

Market Segmentation

  • By Application
    • QSR
    • Shopping Centres
    • Public Transport
    • Others
  • By Product Dispensed
    • Salty and Sour Snacks
    • Bakery Products
    • Confectionery Products
    • Beverages
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Israel
      • Saudi Arabia
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Indonesia
      • Taiwan
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the global smart vending machine market size by 2027?
A1. The global smart vending machine market is expected to reach a market size of US$11.522 billion by 2027. 


Q2. What is the size of the global smart vending machine market?
A2. Smart Vending Machine Market was valued at US$4.807 billion in 2020. 


Q3. What are the growth prospects for the smart vending machine market?
A3. The smart vending machine market is expected to grow at a CAGR of 13.30% during the forecast period. 


Q4. What factors are anticipated to drive the smart vending machine market growth?
A4. The smart vending machine market growth is attributed to the rising rate of cashless transactions or UI- based transactions in many countries in recent times.


Q5. Which region holds the largest market share in the smart vending machine market?
A5. North America is expected to hold the largest share in the smart vending machine market due to the early adoption of self-service advanced technologies by the countries such as the USA and Canada.

1. INTRODUCTION
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation


2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions


3. EXECUTIVE SUMMARY
3.1. Research Highlights


4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis


5. GLOBAL SMART VENDING MACHINE MARKET BY APPLICATION
5.1. Introduction
5.2. QSR
5.3. Shopping Centres
5.4. Public Transport
5.5. Others


6. GLOBAL SMART VENDING MACHINE MARKET BY PRODUCT DISPENSED
6.1. Introduction
6.2. Salty and Sour Snacks
6.3. Bakery Products
6.4. Confectionery Products
6.5. Beverages
6.6. Others


7. GLOBAL SMART VENDING MACHINE MARKET BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. United States
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom 
7.4.4. Spain 
7.4.5. Others
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. Israel
7.5.3. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. India
7.6.3. South Korea
7.6.4. Taiwan
7.6.5. Thailand
7.6.6. Indonesia 
7.6.7. Japan
7.6.8. Others


8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Competitive Matrix and Analysis
8.2. Recent Investments and Deals
8.3. Strategies of Key Players


9. COMPANY PROFILES
9.1. Fuji Electric Co. Ltd.
9.2. Glory Ltd.
9.3. Canteen,
9.4. Ingenico S.A.
9.5. Intel Corporation
9.6. Westomatic Vending Services Ltd.
9.7. Royal Vendors, Inc.
9.8. Azkoyen Group
9.9. Crane Co.

Fuji Electric Co. Ltd.

Glory Ltd.

Canteen,

Ingenico S.A.

Intel Corporation

Westomatic Vending Services Ltd.

Royal Vendors, Inc.

Azkoyen Group

Crane Co.

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