Intelligent Vending Machines Industry Market Research Report By Product Type (Touchscreen Vending Machines, Cashless Vending Machines, Mobile Payment Vending Machines), By Application (Commercial, Retail, Hospitality, Education), By Size (Small, Medium, Large), By Sales Channel (Online, Offline), By End User (Consumers, Businesses, Schools) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Intelligent Vending Machines Industry Market Overview

The Intelligent Vending Machines Industry Market Size was estimated at 20.97 (USD Billion) in 2022.The Intelligent Vending Machines Industry Market Industry is expected to grow from 23.44 (USD Billion) in 2023 to 64.0 (USD Billion) by 2032. The Intelligent Vending Machines Industry Market CAGR (growth rate) is expected to be around 11.81% during the forecast period (2024 - 2032).Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Key Intelligent Vending Machines Industry Market Trends Highlighted

Some of the primary factors fostering growth in the intelligent vending machine market include the escalating thirst for convenience and seamless retail experiences, improvements in payment technologies and the rising uptake of connected devices and the Internet of Things (IoT). The emergence of cash less systems of payment and mobile payment systems through the use of sensors and remote monitoring systems. Physical vending machines are changing how consumers use vending machines. Intelligence vending machine countries' opportunities for growth include the widening of the product frontier, for instance, by offering fresh and healthy food options and enhancement of value-adding services like recommendations or loyalty programs. The industry is also prepared to take advantage of the increasing trend of micro markets and unattended retail systems that present consumers with self-service opportunities for long hours. The current trends in the intelligent vending machine encompass the use of AI and machine learning to optimize consumer experience by making suggestions and offering predictive maintenance services. There is also an increasing presence of computer imaging and facial science which allows vending machines to talk back to customers and vice versa while comprehending the process excitement.

Intelligent Vending Machines Industry Market Drivers

Rising Demand for Convenience and Time-Saving Solutions

The increasing demand for convenience and time-saving solutions is a major driver of the  Intelligent Vending Machines Industry Market. With the fast-paced lifestyles and hectic schedules of today's consumers, intelligent vending machines offer a convenient and efficient way to purchase a variety of products, including food, beverages, snacks, and other items. These machines allow consumers to make purchases quickly and easily without the need to wait in lines or interact with a cashier.The growing popularity of self-service technologies and the increasing adoption of digital payments are further contributing to the demand for intelligent vending machines. As a result, the market is expected to experience significant growth in the coming years.

Technological Advancements and Innovation

Another key driver of the market is the recent technological advancements and innovation within the field. In particular, the integration of advanced technologies, such as artificial intelligence, machine learning, and the Internet of Things, is driving the adoption of intelligent vending machines. With the help of these technologies, machines can offer personalized recommendations, accept payments other than coins and banknotes, and provide smart inventory management.At the same time, emerging touchless vending technologies, such as facial recognition and gesture control, are enhancing the overall user experience and improving hygiene standards. Overall, these advancements are likely to continue to positively impact the various implementations of intelligent vending machines.

Expansion of Applications and Use Cases

The expanding applications and use cases of intelligent vending machines are also contributing to the growth of the  Intelligent Vending Machines Industry Market. These machines are no longer limited to traditional retail settings, such as convenience stores and offices. They are now being deployed in a wide range of locations, including airports, train stations, hospitals, educational institutions, and corporate campuses. The versatility of intelligent vending machines allows them to dispense a variety of products, including fresh food, healthy snacks, personal care items, and even pharmaceuticals.This expansion of applications is creating new opportunities for market growth.

Intelligent Vending Machines Industry Market Segment Insights

Intelligent Vending Machines Industry Market Product Type Insights

The market growth is primarily driven by the increasing demand for convenience, the growing popularity of cashless payments, and the rising adoption of mobile payment technologies. In terms of product type, the market is segmented into touchscreen vending machines, cashless vending machines, and mobile payment vending machines. Among these, touchscreen vending machines are expected to hold the largest market share during the forecast period. The growing popularity of touchscreen technology, coupled with the increasing demand for user-friendly interfaces, is driving the growth of this segment.Cashless vending machines are also gaining traction owing to the rising adoption of cashless payment methods. The increasing penetration of mobile payment technologies, such as NFC and QR code payments, is expected to further boost the growth of this segment. Mobile payment vending machines are expected to witness significant growth in the coming years, driven by the increasing popularity of mobile payments and the growing number of smartphone users. Regionally, the Asia Pacific region is expected to dominate the  Intelligent Vending Machines Industry Market, accounting for the largest market share during the forecast period.The growth in this region is primarily driven by the increasing demand for convenience, the rising adoption of cashless payment methods, and the growing number of smartphone users. North America and Europe are also expected to witness significant growth in the coming years, owing to the increasing popularity of touchscreen vending machines and the rising adoption of cashless payment technologies.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Intelligent Vending Machines Industry Market Application Insights

The Intelligent Vending Machines Industry Market segmentation by Application can be divided into Commercial, Retail, Hospitality, and Education. The Commercial segment held the largest market share in 2023, accounting for over 40% of the  Intelligent Vending Machines Industry Market revenue. This segment is expected to continue to dominate the market throughout the forecast period, driven by the increasing adoption of intelligent vending machines in offices, corporate buildings, and other commercial establishments. The Retail segment is expected to witness significant growth over the forecast period, owing to the rising demand for intelligent vending machines in convenience stores, supermarkets, and shopping malls.The Hospitality segment is also expected to grow steadily, driven by the increasing adoption of intelligent vending machines in hotels, restaurants, and other hospitality establishments. The Education segment is expected to witness moderate growth over the forecast period, driven by the increasing adoption of intelligent vending machines in schools and universities.

Intelligent Vending Machines Industry Market Size Insights

The Intelligent Vending Machines Industry Market is segmented by Size into Small, Medium, and Large. The Small segment held the largest market share in 2023, accounting for around 45% of the  Intelligent Vending Machines Industry Market revenue. The Medium segment is expected to grow at a CAGR of 12.5% during the forecast period 2023-2032. The growth of the Medium segment can be attributed to the increasing adoption of intelligent vending machines in offices, schools, and universities. The Large segment is expected to account for a significant market share in the coming years due to the growing demand for intelligent vending machines in airports, shopping malls, and other public places.

Intelligent Vending Machines Industry Market Sales Channel Insights

Sales Channel The  Intelligent Vending Machines Industry Market is segmented into online and offline sales channels. The online channel is projected to grow at a higher CAGR during the forecast period due to the increasing popularity of e-commerce and the convenience it offers to customers. In 2024, the online channel is expected to account for around 40% of the  Intelligent Vending Machines Industry Market revenue. The offline channel, which includes traditional brick-and-mortar stores and distributors, is expected to maintain a significant market share during the forecast period.However, its growth is expected to be slower than the online channel due to the increasing shift towards online shopping.

Intelligent Vending Machines Industry Market End User Insights

End User segment plays a vital role in driving the  Intelligent Vending Machines Industry Market growth. The key end users of intelligent vending machines include Consumers, Businesses, and Schools. Consumers are the largest end user segment, accounting for over 55% of the  Intelligent Vending Machines Industry Market revenue in 2023. The growing demand for convenience and personalized shopping experiences is fueling the growth of this segment. Businesses are also adopting intelligent vending machines to enhance employee satisfaction and productivity.The market data indicates that the business segment is projected to grow at a CAGR of 12.5% during the forecast period, owing to the increasing adoption of smart vending solutions in corporate environments. Schools are another significant end user segment, with a growing demand for healthy and affordable food and beverage options. The  Intelligent Vending Machines Industry Market segmentation analysis highlights the unique needs and preferences of each end user segment, enabling manufacturers to develop tailored solutions that meet their specific requirements.

Intelligent Vending Machines Industry Market Regional Insights

The Intelligent Vending Machines Industry Market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023 and is projected to maintain its dominance throughout the forecast period. The growth in this region can be attributed to the increasing adoption of intelligent vending machines in various sectors such as retail, healthcare, and education. Europe is also a significant market for intelligent vending machines, driven by the rising demand for convenience and automation in the region.APAC is expected to witness substantial growth in the coming years, owing to the increasing disposable income and urbanization in the region. South America and MEA are expected to experience moderate growth, driven by the growing adoption of technology and the increasing demand for automated solutions.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Intelligent Vending Machines Industry Market Key Players And Competitive Insights

Intelligent Vending Machines Industry Market is a booming and highly competitive industry. In order to stand ahead in the competition, major players in the industry are bringing innovation and technological development into the machines. The foremost Intelligent Vending Machines Industry Market leading players are focusing on major investments in the R department to enhance the functional efficiency of their machines. Some major players right now are busy increasing their array of vending machines and are looking to make entry into different markets. The intelligent vending market is expected to gain considerable growth over the coming year in view of its convenience which should have worked wonders while also for the popularity of cashless modes.

CRAVE is one major Intelligent Vending Machines Industry Market player. It manufactures a variety of vending machines, including snack machines, beverage machines, and food machines. CRAVE vending machines are equipped with technological marvels and the latest touch screens to offer users a highly advanced experience of operating vending machines. They also offer the luxury of operating in cashless mode. CRAVE is quite a big name right now in the entire United States of America and also internationally in many other regions.

Another major Intelligent Vending Machines Industry Market player is KEENON ROBOTICS. The company is known for vending coffee machines, snack machines, and retail machines, among others. KEENON ROBOTICS vending machines are designed with special emphasis on convenience and user-friendly day-to-day usage of vending machines.

Key Companies in the Intelligent Vending Machines Industry Market Include

• Bianchi Vending S.p.A.


• automatix


• Vendome Retail


• EVOCA Group S.r.l.


• Vendopolis Ltd.


• Innovative Vending Solutions


• SandenVendo Asia Oceania


• Well Nexus International Co., Ltd.


• Royal Vendors


• USA Technologies, Inc.


• Crane Merchandising Systems, Inc.


• 3M Co.


• Azkoyen Group


• Fuji Electric Co., Ltd.

Intelligent Vending Machines Industry Market Industry Developments

The intelligent vending machines industry market is poised for significant growth, driven by increasing demand for convenience, technological advancements, and the expansion of the retail sector. In 2023, the market was valued at approximately USD 23.44 billion and is projected to reach USD 64.0 billion by 2032, exhibiting a CAGR of 11.81%. The growing popularity of cashless transactions, coupled with the integration of IoT and AI technologies, is fueling the adoption of intelligent vending machines. Moreover, the expansion of the food and beverage industry and the increasing demand for personalized shopping experiences are contributing to the market's growth. Recent developments in the market include the launch of vending machines that offer a wider range of products, including fresh produce, prepared meals, and over-the-counter medications. Additionally, partnerships between vending machine operators and retailers are becoming more common, allowing for the integration of vending machines into existing retail environments.

Intelligent Vending Machines Industry Market Segmentation Insights

Intelligent Vending Machines Industry Market Product Type Outlook

• Touchscreen Vending Machines


• Cashless Vending Machines


• Mobile Payment Vending Machines

Intelligent Vending Machines Industry Market Application Outlook

• Commercial


• Retail


• Hospitality


• Education

Intelligent Vending Machines Industry Market Size Outlook

• Small


• Medium


• Large

Intelligent Vending Machines Industry Market Sales Channel Outlook

• Online


• Offline

Intelligent Vending Machines Industry Market End User Outlook

• Consumers


• Businesses


• Schools

Intelligent Vending Machines Industry Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa