Retail Vending Machine Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (Food Retail Vending Machine, Beverage Retail Vending Machine, Games/Amusement Retail Vending Machine, Tobacco Retail Vending Machine, Candy & Confectionery Retail Vending Machine, Beauty & Personal Care Retail Vending Machine, Ticket Retail Vending Machine); Payment Mode (Cash Retail Vending Machine, Cashless Retail Vending Machine); Application (Commercial Places, Office, Public Places, Others); Region/Country
The global Retail Vending Machine Market is expected to grow at a significant rate of 8% during the forecast period. A vending machine is a customer service machine that operates without the aid of human intervention. It provides different consumer products into the machine using extremely simple steps. in the retail trade for the selling of food and non-food items as well as convenience products. Selling cold and hot drinks was the predominant business in the past, but at present, the variety of goods and services marketed with vending machines is steadily increasing.
Moreover, factors such as the rising demand for go-to snacks owing to the hectic lifestyle of consumers is accentuating the market size of the retail vending machine market. From offices to high-end restaurants and crowded bars to public places, accessing food & beverage items is made simple with a vending machine. This, in turn, is likely to drive their demand. In addition, the surging adoption of IoT and digital transaction are creating lucrative opportunities for smart retail vending machines in offices, multiplexes, commercial places, and others as well.
Azkoyen Group, Cantaloupe Systems Inc., Westomatic Vending Services Limited, Royal Vendors Inc., Glory Ltd., Sanden Holding Corp., Seaga Manufacturing Inc., Orasesta S.p.A, Sellmart S.r.L, Fuji Electric Co. Ltd.
Insights Presented in the Report
“Amongst type, beverage retail vending machine category to hold significant share during the forecast period”
Based on the type, the retail vending machine market is classified into food retail vending machine, beverage retail vending machine, games/amusement retail vending machine, tobacco retail vending machine, candy & confectionery retail vending machine, beauty & personal care retail vending machine, and ticket retail vending machine. The beverage retail vending machine segment caters substantial share of the market. The soaring preference for coffee and energy drinks among young consumers and the high demand for coffee and energy drinks are driving the growth of this segment. Beverage vending machines are often placed in the lobby of a hotel to generate continuous revenue as they are immensely popular in hotels for guests who prefer a beverage or a small snack instead of a full meal.
“Amongst payment mode, cash retail vending machine segment to hold a significant share in the market in 2020”
Based on payment mode, the retail vending machine market is segmented into cash retail vending machines and cashless retail vending machines. The cash retail vending machines segment caters considerable share of the market. Factors such as increased access to online gambling and betting through mobile phones coupled with advanced features such as improved graphics and extended storage capacity in a smartphone are making it convenient for gamblers proliferating the market. In addition, mobile online gambling offers several advantages to gamers, such as loyalty points, additional deposit options, and multiplayer gaming options with players located anywhere throughout the globe.
“North America to hold a significant share in the market”
North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the rise of self-service technology in this region has created new business avenues for retail vending machines. Moreover, with a growing go-to-snacking culture and rising demand for coffee and energy drinks consumers various retail vending machine operators are focusing on launching their businesses in strategic locations across the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Retail Vending Machine market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Retail Vending Machine Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Retail Vending Machine market were the three major steps undertaken to create and analyze the adoption of Retail Vending Machine in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Retail Vending Machine market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Retail Vending Machine market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Retail Vending Machine market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, payment mode and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Retail Vending Machine market. Further, we conducted factor analysis using dependent and independent variables such as various type, payment mode and application. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Retail Vending Machine market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Retail Vending Machine market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Retail Vending Machine market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Retail Vending Machine market in terms of the product offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Retail Vending Machine market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, payment mode and application in the global Retail Vending Machine market.
The main objective of the Global Retail Vending Machine Market Study
The current & future market trends of the global retail vending machine market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Retail Vending Machine market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type of type, payment mode and application.
- Define and analysis of the regulatory framework for the Retail Vending Machine
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Retail Vending Machine market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Retail Vending Machine market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
Related Reports
Customers who bought this item also bought
Experiential Retail Market: Current Analysis and Forecast (2024-2032)
Emphasis on Type of Experience (In-Store Technologies (AR, VR, AI), Multi-Sensory Experiences (Scent, Sound, Visual), Pop-Ups & Immersive Installations, Live Events & Demonstrations, and Others); Retail Format (Department Stores, Specialty Stores, Pop-Up Stores, Flagship Stores, and Others); Industry (Apparel and Fashion, Beauty and Personal Care, Consumer Electronics, Luxury Goods, Food and Beverage, Home Decor, and Others); and Region/Country
November 7, 2024
