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Intelligent Vending Machine Market: Opportunities, Demand and Forecasts, 2020–2024

Author : Ronak Bora | Published Date : 2020-09-08 

The intelligent vending machine market has been expanding rapidly in recent times as technology continues to transform the world and disruptive technology is becomes the order of the day. For instance, recently, greenbox Robotics, a Southern California tech company, designed an intelligent vending machine that can dispense marijuana and CBD. The company’s chief motivation behind designing such a technology was the long queues in cannabis dispensaries.

The Asia Pacific intelligent vending machine market will expand at a rapid pace over the coming years due to growing digitalization and urbanization trends in several economies including India, China, and Japan. Increasing customer crowd in retail, restaurant, and entertainment sectors is encouraging store owners to implement advanced technologies that will help in customer engagement, thereby driving sales and profitability. Moreover, the rising trend of automation in business operations is a major factor propelling the growth of the market.

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With the help of vending machines however, customers can cut the queue and buy products that include cannabis flower, extracts, edibles, CBD products and accessories. The machine even describes products and its effects and suggests products to customers. It verifies customer’s identification and determines age using facial recognition technology and accepts payment with either a debit card or Apple Pay. Intelligent vending machines have transformed many aspects of life and this machine aims to do the same for the cannabis industry. According to greenbox Robotics, the kiosk is designed to dispense multiple items in one transaction and streamline the purchase experience, bringing down a 30-minute wait down to nearly two minutes. Such an innovative vending machine is expected to be gamechanger for cannabis dispersion and the intelligent vending machine market in general.

Food dispensing machines are predicted to witness a high demand from several application areas in the intelligent vending machine market. The adoption of these smart solutions in retail & restaurant outlets is growing rapidly. Manufacturers operating are offering different types of dispensing solutions depending upon the food item being served. Several types of food dispensing solutions include snacks, vegetables, ice creams, cakes, fruits, and candy vending machines. The retail industry is installing such technologies based on products that need to be stored in outlets. Snack dispensing solutions are the most widely adopted solutions in the market.

The growing adoption of the snack & coffee dispensing solutions at offices is expected to drive the intelligent vending machine market. Corporate offices are installing smart technologies that provide various features such as biometric authentication, mobile connectivity, coupon vending, etc., which help enterprises to ensure the safety of the equipment and enhance ease in vending the products. Several corporate sectors provide coupons such as Sodexo coupons to their employees to compensate for their food expenses. Coupon vending machines are being incorporated in such application areas for reducing the efforts and time spent by the management for distributing such coupons. The installation of such smart dispensing technologies at corporate offices will accelerate the market.

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Key players operating in the intelligent vending machine market include Azkoyen Vending Systems, Continental Vending, Crane Merchandising Systems, Fuji Electric Co., Ltd., Evoka Group, FAS International, Royal Vendors, Inc., Sanden Holdings Corporation, and Seaga Group, among others. These companies are engaged in the manufacture of business-specific solutions that will provide their customers with options to customize the solution based on enterprise requirements. Moreover, technological advancements and innovations in the intelligent vending machine market are expected to be a major factor for the high adoption of these smart solutions.

Table of Contents (ToC) of the report:

Chapter 1.   Methodology and Scope

1.1.  Definitions & forecast parameters

1.1.1. Definitions

1.1.2. Methodology and forecast parameters

1.2.  Data Sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2.   Executive Summary

2.1.  Intelligent vending machine industry 360° synopsis, 2013 – 2024

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Application trends

2.1.4. Regional trends

Chapter 3.   Intelligent Vending Machine Market Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 – 2024

3.3.  Industry ecosystem analysis

3.3.1. Component suppliers

3.3.2. Technology providers

3.3.3. Manufacturers

3.3.4. System integrators

3.3.5. Distribution channel analysis

3.3.6. Vendor matrix

3.4.  Technology & innovation landscape

3.4.1. Impact of IoT and machine learning

3.4.2. Biometric technologies

3.4.2.1.    Facial recognition

3.4.2.2.    Iris recognition

3.4.3. Payment technology

3.4.4. Cloud technology

3.4.5. Connectivity technology

3.5.  Regulatory landscape

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Latin America

3.5.5. MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    Increasing penetration of self-service technology across North America

3.6.1.2.    Rising demand for cashless systems in Europe

3.6.1.3.    Increasing number of retail outlets in Asia Pacific

3.6.1.4.    Rising economic stability and globalization in Latin America

3.6.1.5.    Growing adoption of reverse vending machine in MEA

3.6.2. Industry pitfalls & challenges

3.6.2.1.    Rising security issues

3.6.2.2.    Prohibition of the sale of tobacco products in several regions

3.7.  Growth potential analysis

3.8.  Porter's analysis

3.8.1. Supplier power

3.8.2. Buyer power

3.8.3. Threat of new entrants

3.8.4. Threat of substitutes

3.8.5. Internal rivalry

3.9.  Competitive landscape, 2017

3.9.1. Company market share analysis

3.9.2. Strategic dashboard

3.10.      PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/intelligent-vending-machine-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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