Refrigerated Vending Machine Global Market Size Forecast T - California - San Francisco ID1549242

A refrigerated vending machine is a vending machine equipped with an intelligent system that can automatically sell frozen food, beverages and other products. Refrigerated vending machines are usually equipped with touch screens, payment systems and other functions. Consumers can select and pay for goods through the touch screen. Refrigerated vending machines have the characteristics of convenient payment, safety and security, and real-time monitoring. They can realize automated sales and are widely used in shopping malls, schools, hospitals, convenience stores, etc.

According to the new market research report "Global Refrigerated Vending Machine Market Report 2023-2029", published by QYResearch, the global Refrigerated Vending Machine market size is projected to grow from USD 22.18 billion in 2023 to USD 33.66 billion by 2029, at a CAGR of 7.2% during the forecast period.

This report profiles key players of Refrigerated Vending Machine such as Selecta, EVOCA, etc.

In 2022, the global top five Refrigerated Vending Machine players account for 72% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Refrigerated Vending Machine.

Market Drivers:

D1: Technological innovation promotes the development of the refrigerated vending machine retail industry by improving consumer consumption experience and saving operator costs.

D2: As infrastructure such as cold chain and warehousing develops, it is expected that a wider range of goods, including fresh food, can be sold through refrigerated vending machines.

D3: As people's income levels increase, people enjoy the fast pace of life in modern cities and also need convenient consumption. Refrigerated vending machines are becoming more and more popular as labor costs continue to rise. Compared with traditional retailers, vending machines can help extend business hours and improve operational efficiency.

Challenge:

C1: The market competition is fierce and oversupply is a common problem faced by the refrigerated vending machine industry. As the market increases, various types of refrigerated vending machines emerge, and competition becomes increasingly fierce. In addition, people have certain preferences for traditional retail channels and have doubts about refrigerated vending machines.

C2: Location and visibility issues. Improper location selection of a refrigerated vending machine can affect its sales performance. Some refrigerated vending machines are placed in areas with low foot traffic, resulting in poor sales. In addition, the self-service vending machine industry lacks effective publicity and promotion, and its popularity and visibility are limited.

C3: Consumer trust issues. Consumers have doubts about the payment security and product authenticity of refrigerated vending machines. Security issues such as theft and fraud make consumers worry about personal information being leaked and purchases being deceived. In addition, reluctance to buy products that have not been manually inspected is also a difficulty in consumer trust.

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