Intelligent Vending Machines Market Size - By Product (Beverage, Food, Tobacco), By Application (Retail Sites, Public Transport Hubs, Offices/Institutions), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027

Industry Trends

Intelligent Vending Machines Market size surpassed USD 8 billion in 2020 and is estimated to expand at around 10% CAGR from 2021 to 2027. The global industry shipments are projected to exceed 2.5 million units by 2027.
 

The inclusion of cutting-edge technologies, including voice and facial recognition, that allow for communication between the machine and the user, is revitalizing the market’s development prospects. These aspects enhance the intelligent vending machine functionality by recognizing biometric characteristics of customers and responding to them. The integration of these technologies also enables market players to provide a customized dynamic visual experience with engaging promotions. The intelligent vending machine models available in the market scan customers' faces and record their purchasing habits. These devices employ a technology that identifies a person's demographic profile and offers optimum products.
 

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Voice-activated intelligent vending machines allow for real-time human-machine interaction, allowing customers to interact with the system and make relevant purchases. Intelligent vending machine technologies assist customers by delivering accurate product information. AI-based intelligent vending machines also offer suggestions based on a product's popularity and provide better options to meet consumers' needs. These technologically advanced characteristics will aid in the intelligent vending machines market growth.
 

The outbreak of the coronavirus pandemic had a temporary negative impact on the industry, and there was a slight downfall in sales during the first half of 2020 due to stringent lockdown measures imposed by government administrations. The outbreak of the COVID-19 pandemic has resulted in a temporary shutdown of retail stores, shopping malls, and supermarkets, hampering the purchasing power of customers.
 

However, the market gained momentum in the second half of 2020, with the relaxation in lockdown measures. Companies offered hygiene products including masks, and this supported the market demand. For instance, in 2020, Fuji Electric Co., Ltd. introduced an intelligent vending machine that dispenses various hygiene products such as masks, wet tissues, and disinfectant sprays.
 

Increasing demand for packaged food products in the U.S.

In the U.S., food vending machines segment is poised to register growth rate of around 11% through 2027 owing to the growing demand for organic, natural, clean, and whole-food products. Intelligent vending machines also offer plant-based dairy product recommendations to lactose intolerant customers, boosting the industry statistics. The demand for intelligent vending machines is anticipated to increase, with consumers constantly looking for new packaged food products that are low in carbohydrates. The expanding organic food market, attributed to the high demand for healthy food from health-conscious consumers, will propel the demand for intelligent vending machines.
 

The robust public transport market in Germany will foster the market revenue

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The Germany market is forecast to witness gains of above 8% during 2021 to 2027 impelled by the efficient transport hubs capable of integrating vending machines at various strategic locations for travelers. Train transportation systems in Germany deploy a network of intelligent vending machines for food & beverages to cater to passengers in the absence of staff. These self-service terminals help customers to buy products and make contactless payments using facial recognition, enhancing the market size. Moreover, such machines create social engagement through brand quizzes and provide customized products to customers.
 

The growing retail sector in Asia Pacific to drive the market expansion

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In 2020, the Asia Pacific intelligent vending machines market accounted for mor than 20% of the revenue share. The APAC market is a hub for major retail stores with advanced infrastructure, increasing the demand for intelligent vending machines. Retailers focus on deploying a robust infrastructure with the technological capability to use advanced devices with contactless payment solutions.
 

Growing penetration of digitalization across retail stores will fuel the implementation of intelligent vending machines. Retail stores in Japan are currently checking the body temperatures of customers at the entrance of their shops and are also making sanitizer products available. Retailers are deploying intelligent vending machines for the disposal of masks and sanitizers for people entering the store.
 

New product development forms a key strategy amongst market players

The key players operating in the intelligent vending machines market include Azkoyen Vending Systems, American Vending Machines, Bulk Vending Systems, Automated Merchandising Systems, Evoca Group, Bianchi Industry SpA, Crane Merchandising Systems, Continental Vending, Inc., Sanden Holdings Corporation, and Fuji Electric Co., Ltd.
 

The industry participants are focusing on introducing new intelligent vending machines to strengthen their product portfolio and market position. For instance, in April 2021, Azkoyen introduced the Vitro X1 automated coffee machine with MIA technology, mounting on the company's successful Vitro series. The Vitro X1 MIA utilizes Azkoyen's proprietary Micro Injected Air (MIA) technology.
 

This intelligent vending machines market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in Units from 2017 to 2027 for the following segments:

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Market, By Product

• Beverage
• Food
• Tobacco
• Others

Market, By Application

• Retail sites
• Public transport hubs
• Offices/Institutions
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Benelux
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Singapore
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • KSA
  • South Africa