According to a new report published by UnivDatos Markets Insights, the Retail Vending Machine Market was valued at USD 53 billion in 2020 and is expected to grow at a CAGR of around 8% from 2022-2028. The analysis has been segmented into Type (Food Retail Vending Machine, Beverage Retail Vending Machine, Games/Amusement Retail Vending Machine, Tobacco Retail Vending Machine, Candy & Confectionery Retail Vending Machine, Beauty & Personal Care Retail Vending Machine, Ticket Retail Vending Machine); Payment Mode (Cash Retail Vending Machine, Cashless Retail Vending Machine); Application (Commercial Places, Office, Public Places, Others); Region/Country.
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The Retail Vending Machine market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Retail Vending Machine market. The Retail Vending Machine market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Retail Vending Machine market at the global and regional levels.
Market Overview
A vending machine is a customer service machine that operates without the aid of human intervention. It provides different consumer products into the machine using extremely simple steps. in the retail trade for the selling of food and non-food items as well as convenience products. Selling cold and hot drinks was the predominant business in the past, but at present, the variety of goods and services marketed with vending machines is steadily increasing.
Moreover, factors such as the rising demand for go-to snacks owing to the hectic lifestyle of consumers is accentuating the market size of the retail vending machine market. From offices to high-end restaurants and crowded bars to public places, accessing food & beverage items is made simple with a vending machine. This, in turn, is likely to drive their demand. In addition, the surging adoption of IoT and digital transaction are creating lucrative opportunities for smart retail vending machines in offices, multiplexes, commercial places, and others as well.
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Some of the major players operating in the market Azkoyen Group, Cantaloupe Systems Inc., Westomatic Vending Services Limited, Royal Vendors Inc., Glory Ltd., Sanden Holding Corp., Seaga Manufacturing Inc., Orasesta S.p.A, Sellmart S.r.L, Fuji Electric Co. Ltd..
COVID-19 Impact
During Coronavirus Pandemic in 2020, the retail vending machine market was severely impacted. It is mainly owing to the shutdown of commercial places, offices, hotels, and others to avoid crowd gathering which reduced the market demand for retail vending machines market. However, in the third quarter of 2020, the market started reviving which escalated its growth as developed countries like Europe and North America have cashless payment mode vending machines that reduce the risk of coronavirus spread while using the vending machines.
The global Retail Vending Machine market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the type, the retail vending machine market is classified into food retail vending machine, beverage retail vending machine, games/amusement retail vending machine, tobacco retail vending machine, candy & confectionery retail vending machine, beauty & personal care retail vending machine, and ticket retail vending machine. The beverage segment caters substantial share of the market. The soaring preference for coffee and energy drinks among young consumers and the high demand for coffee and energy drinks are driving the growth of this segment. Beverage vending machines are often placed in the lobby of a hotel to generate continuous revenue as they are immensely popular in hotels for guests who prefer a beverage or a small snack instead of a full meal.
· Based on payment mode, the retail vending machine market is segmented into cash retail vending machines and cashless retail vending machines. The cash retail vending machines segment caters considerable share of the market. Factors such as increased access to online gambling and betting through mobile phones coupled with advanced features such as improved graphics and extended storage capacity in a smartphone are making it convenient for gamblers proliferating the market. In addition, mobile online gambling offers several advantages to gamers, such as loyalty points, additional deposit options, and multiplayer gaming options with players located anywhere throughout the globe.
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Retail Vending Machine Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the rise of self-service technology in this region has created new business avenues for retail vending machines. Moreover, with a growing go-to-snacking culture and rising demand for coffee and energy drinks consumers various retail vending machine operators are focusing on launching their businesses in strategic locations across the region.
The major players targeting the market include
· Azkoyen Group
· Cantaloupe Systems Inc.
· Westomatic Vending Services Limited
· Royal Vendors Inc.
· Glory Ltd.
· Sanden Holding Corp.
· Seaga Manufacturing Inc.
· Orasesta S.p.A
· Sellmart S.r.L
· Fuji Electric Co. Ltd
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Retail Vending Machine market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Retail Vending Machine market?
• Which factors are influencing the Retail Vending Machine market over the forecast period?
• What are the global challenges, threats, and risks in the Retail Vending Machine market?
• Which factors are propelling and restraining the Retail Vending Machine market?
• What are the demanding global regions of the Retail Vending Machine market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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Retail Vending Machine Market Report Coverage
Report Attribute
Details
Base year
2021
Forecast period
2022-2028
Growth momentum
Accelerate at a CAGR of 8%
Market size 2020
USD 53 billion
Regional analysis
North America, Europe, APAC, Rest of World
Major contributing region
North America to Dominate the Global Retail Vending Machine Market
Key countries covered
United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India
Companies profiled
Azkoyen Group, Cantaloupe Systems Inc., Westomatic Vending Services Limited, Royal Vendors Inc., Glory Ltd., Sanden Holding Corp., Seaga Manufacturing Inc., Orasesta S.p.A, Sellmart S.r.L, Fuji Electric Co. Ltd..
Report Scope
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling
Segments Covered
By Type; By Payment Mode; By Application; By Region/Country
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
Contact
UnivDatos Market Insights
Ankita Gupta
Director Operations
Ph: +91-7838604911
Email: [email protected]
Website: https://univdatos.com/
