From 2018 to 2022, the smart vending machine market will grow at a CAGR of over 34%, translating to an incremental growth of $11.48 billion. New payment technologies that provide users with simpler and faster payment methods via credit card or mobile phone will drive the popularity of vending machines. Additionally, the ability to retrofit existing machines with modern technological capabilities will facilitate the transition to smart vending machines.
Vending machines are growing in terms of accessibility, product type and functionality. Refrigerator-sized machines are no longer confined to hallway recesses and fluorescent-lit waiting rooms. Instead, smart vending machines are being introduced into the retail revolution.
Simple and easy
Using a vending machine is safe and easy. So much so that even children can successfully operate the machine. This means increasing your customer base for your business, as almost anyone can use them. The vending machine business has almost introduced a concept that no one else can surpass in terms of convenience and simplicity: payment comes in, merchandise comes out.
Vending machines are now capable of handling highly unique products such as salads, electronics, beauty products or just about anything you can imagine
To be successful in business, the ability to keep up with technological trends is critical. Smart vending machines are helping companies automate the retail experience in an efficient and cost-effective way.