MACHINE INNOVATION


machine market focus on developing advanced products, such as smart vending machines, to enhance inventory management and customer experience. A smart vending machine is an advanced type of vending machine that integrates technology to improve the user experience and operational efficiency.


Global vending machine market overview and statistics for 2024-2033


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he vending machine market has experienced robust growth in recent years, expanding from $16.86 billion in 2023 to $18.13 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. This is the finding of The Vending Machine Global Market Report 2024 by The Business Research Company and below is a snapshot of what the report includes. The growth in the historic period can be


attributed to employers investing in wellness programmes, expanding range of products available, growth of subscription-based vending services, increasing emphasis on enhancing consumer experience, and favourable government regulations.


Growth driver of the vending machine market The expansion of the retail industry is expected to propel the growth of the vending machine market going forward. The retail industry encompasses businesses and organisations selling goods and services directly to consumers. This sector includes various operations, from physical stores such as supermarkets, clothing shops, and electronics retailers to online platforms such as e-commerce websites.


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Retail industry expansion is attributed to consumer demand and changing shopping behaviours. Vending machines are crucial in the retail industry, offering convenient product access and helping retailers expand their reach to consumers in high-traffic or unconventional locations.


Which market players are driving the vending machine market growth? Key players in the vending machinemarket include Fuji Electric Co. Ltd., Godrej Group, Glory Ltd., Evoca Group, Seaga Manufacturing Inc., Azkoyen Group, Crane Payment Innovations, SandenVendo America Inc., Würth Group, Wittern Group, Royal Vendors Inc., U-Select-It Inc., Rhea Vendors Group, Westomatic Vending Services Ltd, Sielaff GmbH & Co. KG, Jofemar Corporation, Bianchi Industry S.p.A., IVM Inc., AAEON Technology Inc., Cantaloupe Systems Inc., Senso Foods Pvt, Healthy Vending LLC, Automated Merchandising Systems Inc., Vendolite, N&W Global Vending S.p.A..


What are the key trends that influence vending machine market share analysis? Major companies operating in the vending


How is the global vending machine market segmented? 1) By Type: Beverages Vending Machine, Tobacco Vending Machine, Food Vending Machine, Other Vending Machines


2) By Technology: Semi-Automatic Machine, Smart Machine, Automatic Machine


3) By Payment Mode: Cash, Cashless 4) By Application: Retail Sites, Public Transport Hubs, Offices And Institutions, Other Applications


5) By Sales Channel: Offline, Online


Geographical Insights: North America leads North America was the largest region in the vending machines market in 2023. Asia- Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vending machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.


Vending Machine Global Market Report 2024 from The Business Research Company covers the following information: • Market size data for the forecast period: Historical and Future


• Macroeconomic factors affecting the market in the short and long run


• Analysis of the macro and micro economic factors that have affected the market in the past five years


• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.


• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.


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