Global Vending Machine Operators Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

14 Oct, 2021

The vending machine operators market consists of sales goods and services by entities that are engaged in retailing merchandise through vending machines. The products that are sold through vending machines include soft drinks, candy and snacks, hot beverages, hot and cold meals, ice cream, salty snacks, cookies, cakes, nutritious bars, and others.

Global Vending Machine Operators Market Size And Drivers:

The global vending machine operators market is expected to grow from $19.47 billion in 2020 to $20.80 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $24.10 billion in 2025 at a CAGR of 3.8%. Growing demand for on-the-go snacks, drinks, and others is expected to drive the vending machine operators market.

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Trends In The Global Vending Machine Operators Market

The growing focusing 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, Big data for enhancing sales, convenience, and to procure 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 revolutionize 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 maximize 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.

Global Vending Machine Operators Market Segments:
The global vending machine operators market is further segmented –
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, Others
By Use Case: Corporate Offices, Shopping Malls And Retail Stores, Educational Institutions, Hotels And Restaurants, Others
By Geography: The global vending machine operators market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Vending Machine Operators Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides vending machine operators market overviews, analyzes and forecasts market size and growth for the global vending machine operators market, vending machine operators market share, vending machine operators market players, vending machine operators market segments and geographies, vending machine operators market’s leading competitors’ revenues, profiles and market shares. The vending machine operators market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.