The Business Research Company’s Vending Machine Operators Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
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LONDON, GREATER LONDON, UK, July 28, 2023/EINPresswire.com/ — The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s “Vending Machine Operators Global Market Report 2023” is a comprehensive source of information that covers every facet of the vending machine operators market. As per TBRC’s vending machine operators market forecast, the global vending machine operators market size is expected to grow to $63.66 billion in 2027 at a CAGR of 10.7%.
Growing demand for on-the-go snacks, drinks, and others is expected to drive the vending machine operators market. Asia-Pacific is expected to hold the largest vending machine operators market share. Major players in the vending machine operators market include AB Volvo, Caterpillar Inc., Komatsu Ltd., Liebherr Group, Hitachi Construction Machinery Co. Ltd.
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Trending Vending Machine Operators Market Trend
The growing focus 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, and big data for enhancing sales, convenience, and procuring 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 revolutionise 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 maximise 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.
Vending Machine Operators Market Segments
• 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, Other Products
• By Use Case: Corporate Offices, Shopping Malls And Retail Stores, Educational Institutions, Hotels And Restaurants, Other Use Cases
• 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 are individuals that are engaged in retailing merchandise through vending machines. These vending machines are useful for contactless selling of goods.
Vending Machine Operators Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Vending Machine Operators Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on vending machine operators market size, drivers and trends, vending machine operators market major players, competitors’ revenues, market positioning, and vending machine operators market growth across geographies. The vending machine operators market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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