Analysis of the global market share of vending machines: the future can be expected

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s Vending Machine Operators Global Market Report 2023 identifies Growing demand for on-the-go snacks, drinks as the major driver for the Vending Machine Operators market’s growth in the forecast period. Vending machines offer the comfort of buying things on the go without the need to enter or stand in the queue of stores. For instance, as per the Japan Times, there are 5 million vending machines in Japan. In addition to this, according to Vending Market Watch, there are more than 4.6 million vending machines in the USA as most people are busy and find it easy to pick things up on the go without wasting time buying things.

The global vending machine operators market size will grow from $37.99 billion in 2022 to $42.36 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global vending machine operators market size is expected to grow to $63.66 billion in 2027 at a CAGR of 10.7%.

Major competitors in the Vending Machine Operators market are AB Volvo, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd.

A key trend in the Vending Machine Operators market includes growing focus of players on introducing innovations. Companies are focusing on using the latest technology like cashless payment, IoT, AI, and big data for enhancing sales, convenience, and procuring data to find customer preferences to increase productivity and customer satisfaction. For instance, over 2,000 Coca-Cola machines now accept Bitcoin in Australia and New Zealand. Coca Cola started experimenting with artificial intelligence and big data to build smart vending machines that need less human control.

The Vending Machine Operators market is segmented

1. By Machine Type: Beverages Vending Machine, Food Products Vending Machine, Confectionery Products Vending Machine, Others Products Vending Machine.
2. By Product: Soft Drinks, Candy And Snacks, Hot Beverages, Hot And Cold Meal Products, Ice Cream, Other Products
3. By Use Case: Corporate Offices, Shopping Malls And Retail Stores, Educational Institutions, Hotels And Restaurants, Other Use Cases
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Vending Machine Operators market.

The Business Research Company’s “Global Vending Machine Operators Market Report 2023” provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.