The Global Vending Machine Market size is estimated at USD 21.57 billion in 2024, and is expected to reach USD 27.77 billion by 2029, growing at a CAGR of 5.18% during the forecast period (2024-2029).
Factors such as growing demand for on-the-go snacks, food, and drinks due to changing lifestyle of the urban populations, along with the advancement in vending machine technology, which is enabling them to deliver products quickly, making it an extremely convenient option for consumers, are driving the growth of the studied market.
The Global Vending Machine Market is moderately competitive and is expected to grow in competition during the forecast period owing to increasing demand for vending machines, which is expected to attract new players. Vendors operating in the market focus on bringing innovation to their products to gain a competitive edge. Some major players operating in the market include Westomatic Vending Services Ltd., Fuji Electric Company Ltd., Seaga Manufacturing Inc., and Royal Vendors Inc.
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