As cited by the research report titled ‘Global Intelligent Vending Machine Market Size by Application (QSR, Shopping Centers, Offices, Public Transport, and Others), by Product Dispensed (Salty and Savory Snacks, Bakery Products, Confectionery Products, Beverages, and Others), and Regional Forecasts 2021-2027’, available with Market Study Report, global intelligent vending machine market was worth USD 6.5 billion in 2020 and is projected to grow with a healthy CAGR of 14.8% to accumulate USD 17.08 billion over 2021-2027.
 

Growing number of cashless transactions is the major factor driving global intelligent vending machine market growth. In addition, increasing use of these machines in retail sector to attract consumers, along with innovative technologies like IoT, voice & face recognition, and NFC payments are generating lucrative opportunities in the market sphere.
 

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For instance, Cognizant has come up with an innovative IoT solution that involves both data analytics and software to interpret sensor data, which in turn sends automated alerts to management team.
 

For the record, vending machines are used to provide ready-to-eat food packets and soft drinks to customers. The intelligent vending machines grabs the consumer’s attention with interactive multimedia display. It allows manufacturers & retailers to reach out to the customers outside shopping malls, markets, and such similar places.
 

On the downside, regulations related to the sales of junk food and tobacco items is likely to hinder the market progression over the estimated timeline.
 

Considering the application ambit, worldwide intelligent vending machine industry is segmented into QSR, public transport, shopping centers, offices, and others. Based on product dispensed, the marketplace is categorized into salty & savory snacks, confectionery products, bakery products, beverages, and others.
 

Experts cite that, North America is poised to showcase lucrative growth trends over the estimated timeline, as the governments in the U.S. and Canada are focusing on providing nutritional information to customers with the help of vending machines. Meanwhile, Asia Pacific market is likely to account for a massive revenue share over the projected timeframe.
 

Prominent players swaying the global intelligent vending machine industry dynamics are Westomatic Vending Services Ltd., Royal Vendors Inc., Intel Corp., Ingenico Group S.A., Glory Ltd., Fuji Electric Co. Ltd., FAS International S.r.l., Crane Co., Compass Group USA Inc., and Azkoyen SA.