Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Vending Machine Operators Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global vending machine operators market will grow from $37.99 billion in 2022 to $42.36 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The vending machine operators market is expected to grow to $63.66 billion in 2027 at a CAGR of 10.7%.
In 2022, Asia Pacific emerged as the dominant player in the vending machine operators market, leading the pack in terms of market share. North America followed as the second-largest region in this market. The vending machine operators market report provides comprehensive coverage of regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The vending machine operators market is poised for growth, driven by the surging demand for on-the-go snacks, beverages, and various commodities. Vending machines have become synonymous with convenience, offering consumers the ease of purchasing items without the hassle of entering crowded stores or waiting in long queues.
For instance, Japan boasts a staggering 5 million vending machines, as reported by the Japan Times. Similarly, the USA hosts more than 4.6 million vending machines, as highlighted by Vending Market Watch. This trend of on-the-go purchasing, perfectly suited to the fast-paced modern lifestyle, fuels the market's expansion.
A prominent trend shaping the vending machine operators market is the heightened focus on innovation by industry players. Companies are embracing cutting-edge technologies like cashless payment systems, Internet of Things (IoT), artificial intelligence (AI), and big data analytics to elevate sales, enhance convenience, and gather valuable customer insights.
For instance, over 2,000 Coca-Cola vending machines in Australia and New Zealand now accept Bitcoin as payment, showcasing the integration of cryptocurrency technology. Coca Cola's innovative journey includes experimentation with AI and big data to develop smart vending machines that require minimal human intervention.
Partnering with Hivery, a technology-driven company specializing in AI and big data, Coca-Cola transformed its vending machine strategy in over 200 countries. Starting with a small number of machines in Newcastle, Australia, the AI-driven approach optimized vending machine stocking, resulting in an 18% reduction in restocking visits and a remarkable 15% increase in revenue. This success story underscores the significant role of big data and AI in vending machine optimization.
In April 2022, American Green, a prominent player in the cannabis and hemp industry in the United States, made an undisclosed acquisition of VendWeb, a manufacturer and seller of vending machines. This strategic acquisition is set to bolster American Green's distribution capabilities and enhance its market position.
The vending machine operators market encompasses a range of countries, including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States.
Major players in the vending machine operators market are
- Azkoyen Group
- Fuji Electric Co. Ltd
- Glory Ltd
- Royal Vendors Inc.
- AMS Vending
- Crane Payment Innovations
- Hunan Zhongji Technology Co. Ltd
- XY Vending
- Crane Merchandising Systems
- R.S. Hughes Co. Inc.
- Westomatic Vending Services Ltd
Key Topics Covered:
1. Executive Summary
2. Vending Machine Operators Market Characteristics
3. Vending Machine Operators Market Trends And Strategies
4. Vending Machine Operators Market - Macro Economic Scenario
4.1 COVID-19 Impact On Vending Machine Operators Market
4.2 Ukraine-Russia War Impact On Vending Machine Operators Market
4.3 Impact Of High Inflation On Vending Machine Operators Market
5. Vending Machine Operators Market Size And Growth
5.1. Global Vending Machine Operators Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Vending Machine Operators Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Vending Machine Operators Market Segmentation
6.1. Global Vending Machine Operators Market, Segmentation By Machine Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Beverages Vending Machine
- Food Products Vending Machine
- Confectionery Products Vending Machine
- Others Products Vending Machine
6.2. Global Vending Machine Operators Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Soft Drinks
- Candy And Snacks
- Hot Beverages
- Hot And Cold Meal Products
- Ice Cream
- Other Products
6.3. Global Vending Machine Operators Market, Segmentation By Use Case, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Corporate Offices
- Shopping Malls And Retail Stores
- Educational Institutions
- Hotels And Restaurants
- Other Use Cases
7. Vending Machine Operators Market Regional And Country Analysis
7.1. Global Vending Machine Operators Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Vending Machine Operators Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/k1pz7n
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