Vending Machine Market Size US$ 26.4 Billion, Growth Rate (CAGR) of 5%, Top Companies and Forecast Report 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Vending Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global vending machine market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the vending machine market?

The global vending machine market size reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.

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What is vending machine?

A vending machine refers to a standalone automated device that dispenses small-sized products in exchange for cash or tokens. It distributes food products, such as chocolate bars, cupcakes, pizzas, packaged snacks, hot and cold beverages, and candies. Vending machines are also used for providing newspapers, cigarettes, toys, and tickets. The products are packed into the device and are obtainable for purchase throughout the day. Vending machines dispense the product corresponding to the button or item number selected by the consumer. They also consist of computer control boards, refrigeration units, bill and coin validators, and lighting systems to automate the vending process and deliver a seamless experience to the user. As a result, vending machines find widespread applications across public spaces, commercial complexes and hotels.

What are the growth prospects and trends in the vending machine industry?

The elevating requirement for automated product distribution systems across hospitals, school canteens, airports, railway and petrol stations, and industrial plants is among the primary factors driving the vending machine market. Besides this, the launch of innovative variants by the leading manufacturers with integrated touch-screen panels, gesture-, video-, audio, and scent-based interactions, and cashless payment functionalities is further augmenting the market growth. In addition, the emerging trend of self-service technology across industries is also catalyzing the global market. Moreover, the development of reverse vending machines (RVM) that enable the customer to insert used or empty plastic containers and aluminum cans in exchange for a reward is acting as another significant growth-inducing factor. Apart from this, the increasing expenditure capacities of the consumers and the escalating demand for the internet of things (IoT) and cloud computing-enabled devices are anticipated to propel the vending machine market over the forecasted period.

Who are the key players operating in the industry?

The report covers the major market players including: 

Azkoyen Group
Bianchi Industry S.p.A.
Cantaloupe Inc.
Crane Co.
Fuji Electric Co. Ltd.
Glory Ltd.
Jofemar Corporation
Royal Vendors Inc.
Sanden Holdings Corporation
Seaga Manufacturing Inc.
Selecta AG
Westomatic Vending Services Ltd.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

Food Vending Machine
Beverages Vending Machine
Tobacco Vending Machine
Others

Breakup by Technology:

Automatic Machine
Semi-Automatic Machine
Smart Machine

Breakup by Payment Mode:

Cash
Cashless

Breakup by Application:

Hotels
Corporate Offices
Public Places
Others

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

Ask Analyst for Customization and Explore full Report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=4828&flag=E

Key Highlights of the Report:                                                           

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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