Vending Machine Market by Product and Geography - Forecast and Analysis 2021-2025
- Published: Apr 2021
- Pages: 123
- SKU: IRTNTR43707
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The vending machine market share is expected to increase by USD 9.33 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 16%.
This vending machine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers vending machine market segmentations by product (intelligent vending machines and low end vending machines) and geography (North America, Europe, APAC, South America, and MEA). The vending machine market report also offers information on several market vendors, including Azkoyen SA, Compass Group Plc, Crane Co., FAS International Srl, Fuji Electric Co. Ltd., GLORY Ltd., Orasesta Spa, Royal Vendors Inc., Sanden Retail System Co. Ltd., and Westomatic Vending Services Ltd. among others.
What will the Vending Machine Market Size be During the Forecast Period?
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Vending Machine Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing adoption of cashless vending machines is notably driving the vending machine market growth, although factors such as high initial investments and maintenance costs for vending machines may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vending machine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Vending Machine Market Driver
One of the key factors driving the vending machine market is the growing demand for cashless vending machines. The increase in smartphone adoption and payments using internet-enabled devices, debit cards, and credit cards are some factors responsible for the growth of cashless payments. Companies are installing vending machines that can accept payments made through credit cards, debit cards, and mobile payments. This helps them to attract the attention of customers, consequently propelling sales. Intelligent vending machines are becoming popular in offices, commercial complexes, institutes, hospitals, hotels, and other public places. Retailers operating in the market prefer purchasing vending machines that offer cashless features. With a retrofitting option in place, most vendors are opting for features that allow cashless transactions. The significant growth in near-field technology (NFT) is also responsible for the increase in the adoption of cashless transactions. Cashless payments are expected to go mainstream in the future, as more customers are switching to cashless transactions. Therefore, with the growing inclination of customers toward cashless payments, the demand for and purchase of cashless vending machines is increasing.
Key Vending Machine Market Trend
Another key factor driving the vending machine market growth is the tie-ups between retailers and manufacturers. Several players in industries, such as cosmetics, personal and beauty care, and consumer goods and retail, are shifting from conventional vending machines to smart vending machines to increase their profits. The increasing adoption of intelligent vending machines by popular global retail players is one of the leading factors influencing the market. The new smart and intelligent vending machines not only provide a seamless experience for the user but also help in marketing and gathering insights on the buying patterns of consumers. For instance, The Coca-Cola Co. (Coca-Cola) was one of the first companies to use intelligent vending machines that are compatible with cashless payments, accept debit and credit cards, as well as notify managers and operating staff when the quantity of the beverage in the machine is low. With better return on investment gains, the company continues to expand its freestyle smart vending machines, which are leased to operators. Similarly, there are several retailers and producers in different industries, which have tie-ups to capitalize on the operating margins and profits and ensure customer satisfaction.
Key Vending Machine Market Challenge
High initial investments and maintenance costs for vending machines is one of the key challenges hindering the vending machine market growth. End-users require to make huge capital investments in procuring the software and hardware for intelligent vending machines. Although they can customize the hardware and software according to their needs, such customization can also be outsourced to third-party suppliers, which leads to considerable additional costs. To withstand the competition in the market, vendors need to launch innovative products, which require heavy investments in R&D. However, the cost of manufacturing vending machines is very high, while the cost of renting them is also increasing every year. Additionally, with the evolution of new technology and changing preferences, owners of intelligent vending machines need to continuously upgrade their software and other related services, which again incur high costs for them. Sometimes upgrading and troubleshooting can take days to resolve, thereby resulting in loss of revenue. Hence, vendors are coming up with various strategies to reduce their losses. These include absorbing extra costs, rearranging routes, reducing product variety, eliminating unprofitable accounts, raising product prices, and lowering commissions. Thus, the high maintenance costs incurred by intelligent vending machines proves to be a price challenge for the market in focus.
This vending machine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global vending machine market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the vending machine market during the forecast period.
Who are the Major Vending Machine Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Azkoyen SA
- Compass Group Plc
- Crane Co.
- FAS International Srl
- Fuji Electric Co. Ltd.
- GLORY Ltd.
- Orasesta Spa
- Royal Vendors Inc.
- Sanden Retail System Co. Ltd.
- Westomatic Vending Services Ltd.
This statistical study of the vending machine market encompasses successful business strategies deployed by the key vendors. The vending machine market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
Product Insights and News
- Azkoyen SA- The company offers vending machines under brand names Vitro S1 Espresso, Vitro S1 Instant, Vitro S2 Instant, Vitro S3 FBT, Vitro S3 btc, Vitro S4 Instant and others.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The vending machine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Vending Machine Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the vending machine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Vending Machine Market?
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38% of the market’s growth will originate from North America during the forecast period. US is the key market for vending machine in North America. Market growth in this region will be faster than the growth of the market in South America and MEA regions.
Rising demand for vending machines from retailers and part-time and home-based businesses will facilitate the vending machine market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
COVID-19 pandemic outbreak on the impacted travelling industry, food and beverages market, and many more non-essential businesses. The wildly growing cases of infection resulted in the government implied stay at home policy and restricted market shutdown followed by closure of many shopping outlets, cafeterias, airports and other travelling routes. Owing to the shutdown of main users of vending machines, the vending machines market registered significant decrease in demand. However, with relaxation of stay at home policy and rerouting of travelling incidences are likely to boost vending machine growth in the regional market during forecasted period.
What are the Revenue-generating Product Segments in the Vending Machine Market?
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The vending machine market share growth by the low end vending machines will be significant during the forecast period. Low-end vending machines are traditional/conventional vending machines mostly used for dispensing consumer products. In recent years, the number of retail outlets has increased at an exponential rate globally, especially in developing countries, amid rapid urbanization, substantial growth of the organized retailing sector, the rise in overall household disposable incomes, and a noteworthy change in consumer buying behavior. The strong increase in the number of retail outlets is contributing to the growth of the low-end vending machines segment of the market in focus.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the vending machine market size and actionable market insights on post COVID-19 impact on each segment.
Vending Machine Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 16%
Market growth 2021-2025
$ 9.33 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 38%
Key consumer countries
US, Japan, Germany, UK, and China
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Azkoyen SA, Compass Group Plc, Crane Co., FAS International Srl, Fuji Electric Co. Ltd., GLORY Ltd., Orasesta Spa, Royal Vendors Inc., Sanden Retail System Co. Ltd., and Westomatic Vending Services Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Vending Machine Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive vending machine market growth during the next five years
- Precise estimation of the vending machine market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the vending machine industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of vending machine market vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value Chain Analysis: Electronic Equipment and Instruments
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five Forces Summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 15: Product - Market share 2020-2025 (%)
- 5.2 Comparison by Product
- Exhibit 16: Comparison by Product
- 5.3 Low end vending machines - Market size and forecast 2020-2025
- Exhibit 17: Low end vending machines - Market size and forecast 2020-2025 ($ billion)
- Exhibit 18: Low end vending machines - Year-over-year growth 2020-2025 (%)
- 5.4 Intelligent vending machines - Market size and forecast 2020-2025
- Exhibit 19: Intelligent vending machines - Market size and forecast 2020-2025 ($ billion)
- Exhibit 20: Intelligent vending machines - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Product
- Exhibit 21: Market opportunity by Product
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 25: North America - Market size and forecast 2020-2025 ($ billion)
- Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
- 7.4 Europe - Market size and forecast 2020-2025
- Exhibit 27: Europe - Market size and forecast 2020-2025 ($ billion)
- Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
- 7.5 APAC - Market size and forecast 2020-2025
- Exhibit 29: APAC - Market size and forecast 2020-2025 ($ billion)
- Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 31: South America - Market size and forecast 2020-2025 ($ billion)
- Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 33: MEA - Market size and forecast 2020-2025 ($ billion)
- Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography ($ billion)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 38: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 Azkoyen SA
- 10.4 Compass Group Plc
- Exhibit 48: Compass Group Plc - Overview
- Exhibit 49: Compass Group Plc - Business segments
- Exhibit 50: Compass Group Plc - Key offerings
- Exhibit 51: Compass Group Plc - Segment focus
- 10.5 Crane Co.
- Exhibit 52: Crane Co. - Overview
- Exhibit 53: Crane Co. - Business segments
- Exhibit 54: Crane Co. - Key offerings
- Exhibit 55: Crane Co. - Segment focus
- 10.6 FAS International Srl
- Exhibit 56: FAS International Srl - Overview
- Exhibit 57: FAS International Srl - Product and service
- Exhibit 58: FAS International Srl - Key offerings
- 10.7 Fuji Electric Co. Ltd.
- Exhibit 59: Fuji Electric Co. Ltd. - Overview
- Exhibit 60: Fuji Electric Co. Ltd. - Business segments
- Exhibit 61: Fuji Electric Co. Ltd. – Key news
- Exhibit 62: Fuji Electric Co. Ltd. - Key offerings
- Exhibit 63: Fuji Electric Co. Ltd. - Segment focus
- 10.8 GLORY Ltd.
- Exhibit 64: GLORY Ltd. - Overview
- Exhibit 65: GLORY Ltd. - Business segments
- Exhibit 66: GLORY Ltd. - Key offerings
- Exhibit 67: GLORY Ltd. - Segment focus
- 10.9 Orasesta Spa
- Exhibit 68: Orasesta Spa - Overview
- Exhibit 69: Orasesta Spa - Product and service
- Exhibit 70: Orasesta Spa - Key offerings
- 10.10 Royal Vendors Inc.
- Exhibit 71: Royal Vendors Inc. - Overview
- Exhibit 72: Royal Vendors Inc. - Product and service
- Exhibit 73: Royal Vendors Inc. - Key offerings
- 10.11 Sanden Retail System Co. Ltd.
- Exhibit 74: Sanden Retail System Co. Ltd. - Overview
- Exhibit 75: Sanden Retail System Co. Ltd. - Product and service
- Exhibit 76: Sanden Retail System Co. Ltd. - Key offerings
- 10.12 Westomatic Vending Services Ltd.
- Exhibit 77: Westomatic Vending Services Ltd. - Overview
- Exhibit 78: Westomatic Vending Services Ltd. - Product and service
- Exhibit 79: Westomatic Vending Services Ltd. - Key offerings
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 80: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 81: Research Methodology
- Exhibit 82: Validation techniques employed for market sizing
- Exhibit 83: Information sources
- 11.4 List of abbreviations
- Exhibit 84: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Growing demand for cashless vending machines
- Tie-ups between retailers and manufacturers
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