The
global vending machine market size is expected to reach
USD 56.96 billion by 2025, according to a new report by Grand View Research,
Inc. The market is estimated to register a CAGR of 9.4% over the forecast
period. Improving standards of living, rising consumer disposable income
levels, and demand for on-the-go meals and snacks are among the key factors
responsible for market growth. Vending machines offer flexibility in terms of
location i.e., indoor or outdoor and payment options and can be operated 24/7,
which is also likely to boost their demand in offices and commercial places.
In
addition, rising adoption of Internet-of-Things (IoT) is further projected to
spur the market growth. Furthermore, continuous innovations, such as
interactive display systems and cashless payment options, are anticipated to
boost the product sales. In addition, advanced vending machines offer a number
of products apart from hot and cold beverages, snacks, confectioneries, etc.
For instance, in 2018, Pizza Deli 24/7 introduced a pizza vending machine that
offers pizza in five flavors.
Rapidly
expanding corporate sector across the globe will also boost the product demand
over the forecasted period, as a number of companies are using vending machines
to save costs and space and maintain cleanliness. Growing popularity of various
cashless payment options across all sectors is also increasing the product
sales. Many companies in the market are partnering with several payment service
companies to add cashless payment options to their devices. For instance,
American Food and Vending formed a partnership with PayRange to install
contactless payment mode on its vending machines.
For Full Research Report On Vending Machine Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/global-vending-machine-market
Further key
findings from the study suggest:
- Asia Pacific led the global
vending machine market in 2018 and is estimated to expand further at the
fastest CAGR of 10.7% from 2019 to 2025
- Cashless segment is
estimated to witness the fastest growth at a CAGR of 10.2% over the
forecasted period
- Some of the key companies in
the global market include Azkoyen Group; Cantaloupe Systems; Westomatic
Vending Services Ltd.; Royal Vendors, Inc.; Glory Ltd.; and Sanden Holding
Corp.
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/global-vending-machine-market/request/rs1
Grand View Research has segmented
the global vending machine market on the basis of application, payment mode,
and region:
Vending
Machine Application Outlook (Revenue, USD Million, 2015 - 2025)
- Commercial Places
- Offices
- Public Places
- Others
Vending
Machine Payment Mode Outlook (Revenue, USD Million, 2015 - 2025)
- Cash
- Cashless
Vending
Machine Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- Italy
- U.K.
- Asia Pacific
- China
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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