The global vending machines market size reached US$ 19.5 Billion in 2022. It is expected the market will reach US$ 26.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028. The changing consumer lifestyles, rapid technological advancements, easy availability of a diverse product range, cost-effectiveness, rising concerns about sustainability, increasing health consciousness, convenience offered by the product, and increasing profitability are some of the major factors propelling the market.
Automatic machine holds the largest share in the market
Automatic machines offer a high level of convenience and ease of use for both operators and consumers. These machines are designed to operate with minimal human intervention, utilizing advanced technology and automation to perform their functions. Consumers can simply make their selections and complete transactions without the need for manual assistance, enhancing the overall user experience. Additionally, automatic machines have witnessed significant advancements in technology, making them more efficient and versatile. They incorporate features such as touch screens, digital interfaces, and cashless payment systems, providing a seamless and interactive purchasing experience.
Hotels and restaurants represent the largest application segment
The hospitality industry heavily relies on vending machines to provide convenient and accessible options for their guests. Hotels and restaurants often have high foot traffic, with guests seeking quick and on-the-go solutions for snacks, beverages, and other items. Vending machines offer a self-service approach that aligns well with the fast-paced nature of the hospitality environment.
North America exhibits a clear dominance in the market
North America region has a strong and well-established vending machine infrastructure. The market has experienced significant growth over the years, with a wide network of vending machines strategically placed in high-traffic locations such as airports, train stations, malls, office buildings, and educational institutions. This extensive network of vending machines ensures easy accessibility and convenience for consumers.
Key Market Players
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In 2023, Cantaloupe Micropayment Trends Report revealed that EMV (Europay, Mastercard, and Visa) payments have grown by over 350% as a share of cashless sales at vending machines.
Sanden Holdings Corporation has introduced "Glass Front Vendor" vending machines that are jointly developed in Japan, Europe, USA, and China. These machines combine advanced technology and user-friendly features to provide a seamless vending experience.
Orasesta Spa announced the acquisition of Risto.DASrL, a vending machine management company operating in the Lazio region of Italy. This acquisition is expected to bring several benefits to Orasesta and significantly expand its presence in the industry.