Smart Vending Machine Market - Forecast(2020 - 2025)
According to the International Trade Centre, the automatic goods vending machines including those for cigarettes, food items, and beverages registered a global trade value of $1.77m in 2018. Smart vending machines are self-contained onsite product dispensing machines, and offer features such as automated payment and date recognition which enable the machines to discard expired products automatically. The real-time update feature on these machines ensure streamlined supply. The global smart vending machine market size was valued at $4.27m in 2018, and the market is estimated to witness growth at a CAGR of 16.74% through the forecast period of 2019 to 2025. North America dominated the global smart vending machines market, by accounting for 37% of the share in 2018. This is owing to the presence of nations such as the U.S., which is a very lucrative region for the smart vending machines market. According to the National Automatic Merchandising Association, vending machines made an ec...