Global Players Dominate the Market Holding ~40% Revenue Share Despite the Presence of about ~200 Competitors Comprising a large Number of Country-Niche Players and Regional Players, finds a recent market study on the Global Smart Vending Machines Market.
A smart/ intelligent vending machine is an automated machine that provides items such as snacks, beverages, packaged food, cigarettes, and more to consumers with the help of certain apps, any digital payment method, or cloud-connected systems. Smart vending machines can be easily identified from traditional vending machines, as they do not need any kind of human interaction to deliver products to consumers. Smart /intelligent vending Machines are widely used in retail stores, corporate offices, educational institutes, and more due to their contact-less ordering methods, remote monitoring systems, fast & secure transactions as well as Ai systems, which make the overall purchasing process easier and more interactive to the user.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
Global Players Constitute ~15% of the Total Number of Competitors, while Country-Niche Players Dominate Representing ~55% of Total Competitors.
A comprehensive competitive analysis conducted during the Research Study found that the global Smart Vending Machines market is significantly competitive with ~200 players, including globally diversified players, regional players, and a significant number of country-niche players with their niche in Smart vending machines. The majority of the global Smart Vending Machines companies, including Fuji Electric Co., Ltd, Royal Vendors, Inc., Rhea Vendors Group Spa, Bianchi, Westomatic Vending Services Ltd., and Azkoyen Group maintained their leading positions in the market by adopting numerous business strategies such as partnerships, collaborations, mergers, and more.
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- In October 2021, Azkoyen Group teamed up with Trugge a leading German company that specializes in vending solutions for fitness centers. Under this partnership, Azkoyen Group brings the most innovative vending services to European gyms such as vending machine, which prepares protein shakes in 30 seconds.
An Increase In Demand For Self-Service Technology And The Implementation Of IoT and AI Services Is Likely To Provide New Growth Opportunities For The Global Smart Vending Machines Market.
Detailed comparative analysis of key competitors available within the Research Study shows the increase in demand for self-service technology and the implementation of AI and Cloud-based services provide new opportunities for the global Smart Vending Machines market.
- The increase in demand for self-service technology such as cashless transactions, AI, and the cloud-based system is driving the growth of the global Smart Vending Machines market.
- In July 2021, Emart24, which is a convenience store company from Korea, launched an AI-based alcohol vending machine to support its unmanned operations in its convenience stores.
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Increasing Government Initiatives and Policies are Likely to drive the growth of the Global Smart Vending Machines Market
- In September 2017, the department of personnel and training, which is the coordinating agency of the central government of India, installed sanitary napkin Vending Machines in Government Buildings under the Swachhata Hi Seva campaign.
- In September 2022, the government of UAE launched the “Bread for All” initiative under which they are aiming to provide support for the underprivileged by offering free bread at various times of the day by installing various Smart vending Machines in several outlets throughout the country.
For more insights on the market intelligence, refer to the link below:
Global Smart Vending Machines Market
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