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Global Refrigerated Vending Machines Market Report 2023: Increasing Demand for the Adoption of Contactless Refrigerated Vending Machines Drives Growth
Sunday, April 16, 2023
DUBLIN, April 13, 2023 /PRNewswire/ -- The "Refrigerated Vending Machines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
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The Refrigerated Vending Machines Market revenue is expected to grow at a CAGR of 7.0% over the next five years. Refrigerated vending machines are in most areas, such as office buildings, hypermarkets, supermarkets, shopping malls, schools, and hospitals.
Companies Mentioned
-- Rheavendors Group
-- Azkoyen Group
-- Bianchi Vending Group
-- FAS International
-- Rockwell Industries Limited
-- Westomatic Vending Services Ltd.
-- Fuji Electric Company Ltd.
-- Seaga Manufacturing, Inc.
-- Royal Vendors, Inc.
-- Vending.com
Key Market Trends
Increasing Number of Retail and Healthcare Sectors to Augment Refrigerated Vending Machines
-- The retail industry growth across various parts of the world is creating
a favorable market scenario for the studied market growth. For instance,
according to the US Census Bureau, the total retail sales in the
previous year are estimated to reach USD 6594.81 billion.
-- The beverages industry is one of the critical driving market growth.
Beverages vending machines offer different types of cold drinks and
water. The significant growth of the food & beverages industry is a
vital factor that stimulates growth for the refrigerated vending
machines market.
-- Key Players in the market are taking various initiatives that can create
new growth opportunities for the market over the next five years. For
Instance, Daalchini Smart Contactless Vending Machines are used in
hospitals. Visitors inside the hospital premises can use this vending
machine to buy water bottles, healthy snacks, energy bars, biscuits,
ready-to-eat products, etc., without touching the vending device.
-- For Instance, Azkoyen deployed its innovative vending machine on AVLO
trains, which are low-cost, high-speed Renfe trains that will first run
between Madrid, Zaragoza, and Barcelona. With autonomous vending
machines, the Azkoyen machines will supply beverages and snacks to
around 400 Avlo passengers. Such a new initiative from key players in
the market would bring new growth opportunities for the refrigerated
vending machines market.
Asia-Pacific is Expected to Register Significant Market Growth During the Forecast Period
-- The fast-growing IT and commercial sectors in the Asia Pacific are
creating significant opportunities for the refrigerated vending machines
market. Furthermore, changing lifestyles of people owing to growing
urbanization and exposure to western culture have significantly driven
the demand for packed foods, beverages, and snacks.
-- The increasing number of refrigerated vending machines adopted in many
fitness clubs around the globe for offering their clients supplements
like soft drinks, protein bars, and energy drinks is anticipated to
boost the demand for the refrigerated vending machine market.
-- IT sector growth in countries such as India, the Philippines, and China
is significantly driving office space demand, creating a positive
outlook for the region's refrigerated vending machines market growth.
For instance, according to the National Association of Software and
Service Companies (Nasscom), the Indian IT industry's revenue is
expected to increase to USD 227 billion by the end of the last year.
-- Increased use of refrigerated vending machines in hotels & restaurants,
and corporate offices are expected to drive the refrigerated vending
machine market in the future. Moreover, smart vending devices offer
smooth interactions through touch screens and immediate access to their
desired products. They have various features, such as credit card
acceptance and several consumer options. These machines allow users to
make custom requests, get quality products on-demand, and incorporate
machine learning & algorithms to serve their users better.
-- Growing demand for packed foods and increasing integration of cashless
vending machines are likely to offer significant opportunities to the
market. For Instance, A vendekin-powered smart vending device can
provide products such as flavored milk, cookies, etc., through an
entirely cashless and touchless transaction at Girnar in Junagadh,
Gujarat.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Impact of COVID-19 on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for the Adoption of Contactless Refrigerated Vending Machines
5.1.2 Increasing Demand for Packaged Food Products
5.2 Market Restraints
5.2.1 High Installation and Maintenance Cost
5.3 Smart Vending Machines
5.3.1 Technology & New Product Development
6 MARKET SEGMENTATION
6.1 By Geography
6.1.1 North America
6.1.2 Europe
6.1.3 Asia Pacific
6.1.4 Latin America
6.1.5 Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Rheavendors Group
7.1.2 Azkoyen Group
7.1.3 Bianchi Vending Group
7.1.4 FAS International
7.1.5 Rockwell Industries Limited
7.1.6 Westomatic Vending Services Ltd.
7.1.7 Fuji Electric Company Ltd.
7.1.8 Seaga Manufacturing, Inc.
7.1.9 Royal Vendors, Inc.
7.1.10 Vending.com
8 INVESTMENT ANALYSIS
9 FUTURE OUTLOOK OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/ss7ztq
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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