Global Vending Machine Operators Market Size, Drivers, Trends, Opportunities And Strategies – Includes Vending Machine Operators Market Trends
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Growing demand for on-the-go snacks, drinks, and others are expected to drive innovation in vending machine operators manufacturing, thus driving the market during the forecast period.
The global vending machine operators market is expected to grow from $37.99 billion in 2022 to $42.36 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The global vending machine operators market size is expected to grow to $63.66 billion in 2027 at a CAGR of 10.7%.
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Global Vending Machine Operators Market Segments Include:
- By Machine Type: Beverages Vending Machine, Food Products Vending Machine, Confectionery Products Vending Machine, Others Products Vending Machine
- By Product: Soft Drinks, Candy And Snacks, Hot Beverages, Hot And Cold Meal Products, Ice Cream, Other Products
- By Use Case: Corporate Offices, Shopping Malls And Retail Stores, Educational Institutions, Hotels And Restaurants, Other Use Cases
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global vending machine operators market in 2021.
Major Market Players in the vending machine operators market include AB Volvo, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Ltd., Terex Corporation.
The growing focus of players on introducing innovations is a leading trend in the vending machine operators market. 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 beverage supergiant employed Hivery, a technology-driven company that works with businesses to refine their retail strategies using AI and big data, to revolutionise the way it marketed and distributed its goods in more than 200 countries. Starting with 60-odd vending machines in Newcastle, a town 160 km away from Sydney, the software company began experimenting with AI to see if it could stack vending machines better than humans could to maximise revenue and profits. The company developed an AI algorithm specifically for Coca-Cola, which resulted in an 18% reduction in re-stock visits plus a 15% rise in revenue, demonstrating that big data really can make a difference when it comes to vending machine optimization.
The Vending Machine Operators Global Market Report 2023 provides a vending machine operators market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The vending machine operators market forecast analyzes vending machine operators market size, vending machine operators market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Vending machine operators are individuals that are engaged in retailing merchandise through vending machines. These vending machines are useful for contactless selling of goods.
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