Vending machine market size to grow by USD 12,426.7 million from 2022 to 2027; Growth driven by increasing demand for cashless vending machines - Technavio

NEW YORK, March 21, 2023 /PRNewswire/ -- The global vending machine market size is estimated to grow by USD 12,426.7 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 16.81% during the forecast period. The growth of the market is driven by factors such as the increase in demand for cashless vending machines, the growing demand for intelligent vending machines from retail industry, and the increasing popularity of vending machines. However, high initial investments and maintenance costs for vending machines will challenge the growth of the market. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Global Vending Machine Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on product (low-end vending machines and intelligent vending machines), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East, and Africa, and South America).

• The market will observe significant growth in the low-end vending machines segment during the forecast period. Many small and medium-scale retailers prefer low-end vending machines as they cannot afford to purchase intelligent vending machines. These machines also minimize the recurring costs associated with labor to improve productivity and promote cashless payments. Such benefits are driving the growth of the segment.

Geography Overview
By geography, the global vending machine market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global vending machine market.

• North America will account for 37% of the market growth during the forecast period. The region is witnessing an increased demand for vending machines from retailers and part-time and home-based businesses. Besides, many end-users are exhibiting high demand for interactive kiosks and intelligent vending machines that provide enhanced user experience. In addition, the rising demand for self-help automated and technologically advanced machines in retail outlets is fueling the growth of the vending machines market in North America.

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Global Vending Machine Market – Market Dynamics

Key factor driving market growth

• The growth of the market is driven by increasing demand for cashless vending machines.
• The rising adoption of smartphones and the rapid penetration of the internet has led to the growth of cashless payments worldwide.
• To attract customers, companies and retailers are adopting vending machines that can accept payments made through credit cards, debit cards, and mobile payments.
• Some retailers are retrofitting vending machines to allow cashless transactions.
• With the growing adoption of cashless payments, the demand for cashless vending machines will increase during the forecast period.

Leading trends influencing the market 

• The real-time data collection capabilities of intelligent vending machines is identified as the key trend in the market.
• Intelligent vending machines are backed with advanced features such as operations management, inventory management, customer analytics, transaction management, software and platform management, and digital advertising and content management system.
• This allows vending machine operators to collect and manage a large volume of customer data.
• Machine learning and real-time data allow retailers to analyze customer profiles based on their behavior and the number of purchases.
• This helps retailers to focus on their core competencies and improve productivity. All these benefits will have a positive impact on the growth of the market during the forecast period.

Major challenges hindering the market growth

• High initial investments and maintenance costs of vending machines are hindering the growth of the market.
• The cost of manufacturing vending machines is high, and the cost of renting is increasing every year.
• End-users require significant investments in purchasing software to manage intelligent vending machines.
• Besides, vendors are compelled to launch innovative products by making heavy investments in R&D.
• Such challenges are reducing the growth potential in the market.

Insights on market drivers, trends, & challenges, historic period (2017 to 2021) and
forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this vending machine market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the vending machine market between 2023 and 2027
• Precise estimation of the size of the vending machine market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the vending machine market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vending machine market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global vending machine market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global vending machine market 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Low end vending machines - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Low end vending machines - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Low end vending machines - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Low end vending machines - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Low end vending machines - Year-over-year growth 2022-2027 (%)

• 6.4 Intelligent vending machines - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Intelligent vending machines - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Intelligent vending machines - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Intelligent vending machines - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Intelligent vending machines - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 42: Market opportunity by Product ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 43: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 45: Chart on Comparison by Distribution Channel
• Exhibit 46: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 55: Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 61: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Japan - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027 
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 Azkoyen SA
• Exhibit 108: Azkoyen SA - Overview
• Exhibit 109: Azkoyen SA - Business segments
• Exhibit 110: Azkoyen SA - Key offerings
• Exhibit 111: Azkoyen SA - Segment focus

• 12.4 Bianchi Industry Spa
• Exhibit 112: Bianchi Industry Spa - Overview
• Exhibit 113: Bianchi Industry Spa - Product / Service
• Exhibit 114: Bianchi Industry Spa - Key offerings

• 12.5 BULK VENDING SYSTEMS Ltd. 
• Exhibit 115: BULK VENDING SYSTEMS Ltd. - Overview
• Exhibit 116: BULK VENDING SYSTEMS Ltd. - Product / Service
• Exhibit 117: BULK VENDING SYSTEMS Ltd. - Key offerings

• 12.6 Compass Group Plc
• Exhibit 118: Compass Group Plc - Overview
• Exhibit 119: Compass Group Plc - Business segments
• Exhibit 120: Compass Group Plc - Key offerings
• Exhibit 121: Compass Group Plc - Segment focus

• 12.7 Continental Vending Inc. 
• Exhibit 122: Continental Vending Inc. - Overview
• Exhibit 123: Continental Vending Inc. - Product / Service
• Exhibit 124: Continental Vending Inc. - Key offerings

• 12.8 Crane Payment Innovations Inc. 
• Exhibit 125: Crane Payment Innovations Inc. - Overview
• Exhibit 126: Crane Payment Innovations Inc. - Product / Service
• Exhibit 127: Crane Payment Innovations Inc. - Key offerings

• 12.9 Ellab AS
• Exhibit 128: Ellab AS - Overview
• Exhibit 129: Ellab AS - Product / Service
• Exhibit 130: Ellab AS - Key offerings

• 12.10 Federal Machine
• Exhibit 131: Federal Machine - Overview
• Exhibit 132: Federal Machine - Product / Service
• Exhibit 133: Federal Machine - Key offerings

• 12.11 Furukawa Electric Co. Ltd. 
• Exhibit 134: Furukawa Electric Co. Ltd. - Overview
• Exhibit 135: Furukawa Electric Co. Ltd. - Product / Service
• Exhibit 136: Furukawa Electric Co. Ltd. - Key offerings

• 12.12 Future Techniks India Pvt. Ltd. 
• Exhibit 137: Future Techniks India Pvt. Ltd. - Overview
• Exhibit 138: Future Techniks India Pvt. Ltd. - Product / Service
• Exhibit 139: Future Techniks India Pvt. Ltd. - Key offerings

• 12.13 Glory Ltd.
• Exhibit 140: Glory Ltd. - Overview
• Exhibit 141: Glory Ltd. - Business segments
• Exhibit 142: Glory Ltd. - Key news
• Exhibit 143: Glory Ltd. - Key offerings
• Exhibit 144: Glory Ltd. - Segment focus

• 12.14 Orasesta Spa
• Exhibit 145: Orasesta Spa - Overview
• Exhibit 146: Orasesta Spa - Product / Service
• Exhibit 147: Orasesta Spa - Key offerings

• 12.15 Royal Vendors Inc.
• Exhibit 148: Royal Vendors Inc. - Overview
• Exhibit 149: Royal Vendors Inc. - Product / Service
• Exhibit 150: Royal Vendors Inc. - Key offerings

• 12.16 Sanden Corp.
• Exhibit 151: Sanden Corp. - Overview
• Exhibit 152: Sanden Corp. - Business segments
• Exhibit 153: Sanden Corp. - Key offerings
• Exhibit 154: Sanden Corp. - Segment focus

• 12.17 Westomatic Vending Services Ltd. 
• Exhibit 155: Westomatic Vending Services Ltd. - Overview
• Exhibit 156: Westomatic Vending Services Ltd. - Product / Service
• Exhibit 157: Westomatic Vending Services Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 158: Inclusions checklist
• Exhibit 159: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 160: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 161: Research methodology
• Exhibit 162: Validation techniques employed for market sizing
• Exhibit 163: Information sources

• 13.5 List of abbreviations 
• Exhibit 164: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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