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Vending Machine Market Report, Industry Overview, Growth Rate and Forecast by 2027

SHERIDAN, WYOMING, UNITED STATES, October 6, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Vending Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ the global vending machine market reached a value of US$ 18.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.3 Billion by 2027, exhibiting at a CAGR of 5.3% during 2022-2027.

Vending Machine Market Overview:

A vending machine refers to a standalone automated device that dispenses small-sized products in exchange for cash or tokens. It distributes food products, such as chocolate bars, cupcakes, pizzas, packaged snacks, hot and cold beverages, and candies. Vending machines are also used for providing newspapers, cigarettes, toys, and tickets. The products are packed into the device and are obtainable for purchase throughout the day. Vending machines dispense the product corresponding to the button or item number selected by the consumer. They also consist of computer control boards, refrigeration units, bill and coin validators, and lighting systems to automate the vending process and deliver a seamless experience to the user. As a result, vending machines find widespread applications across public spaces, commercial complexes, restaurants, and hotels.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report

Request for a PDF sample of this report:  https://www.imarcgroup.com/vending-machine-market/requestsample

Global Vending Machine Market Trends:

The elevating requirement for automated product distribution systems across hospitals, school canteens, airports, railway and petrol stations, and industrial plants is among the primary factors driving the vending machine market. Besides this, the launch of innovative variants by the leading manufacturers with integrated touch-screen panels, gesture-, video-, audio, and scent-based interactions, and cashless payment functionalities is further augmenting the market growth. In addition, the emerging trend of self-service technology across industries is also catalyzing the global market. Moreover, the development of reverse vending machines (RVM) that enable the customer to insert used or empty plastic containers and aluminum cans in exchange for a reward is acting as another significant growth-inducing factor. Apart from this, the increasing expenditure capacities of the consumers and the escalating demand for the internet of things (IoT) and cloud computing-enabled devices are expected to bolster the vending machine market in the coming years. 

Competitive Landscape:

Azkoyen Group
Bianchi Industry S.p.A.
Cantaloupe Inc.
Crane Co.
Fuji Electric Co. Ltd.
Glory Ltd.
Jofemar Corporation
Orasesta Spa
Royal Vendors Inc.
Sanden Holdings Corporation
Seaga Manufacturing Inc.
Selecta AG
Westomatic Vending Services Ltd.

Key Market Segmentation:

Breakup by Type:

Food Vending Machine
Beverages Vending Machine
Tobacco Vending Machine
Others

Breakup by Technology:

Automatic Machine
Semi-Automatic Machine
Smart Machine

Breakup by Payment Mode:

Cash
Cashless

Breakup by Application:

Hotels and Restaurants
Corporate Offices
Public Places
Others

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/request?type=report&id=4828&flag=C

Note: We are updating our reports, If you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and Competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:                                                                      

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

IMARC Group
IMARC Services Private Limited
+1 631-791-1145
email us here

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