According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Smart Vending Machine Market in Food and Beverages (Product Type: Hot Beverage Vending Machines [Less than 100 Cups Per Day, 100 - 200 Cups Per Day, 201 - 300 Cups Per Day, More than 300 Cups Per Day] and Cold Beverage Vending Machines [Less than 150 Bottles, 151 – 200 Bottles, 201 – 300 Bottles, and More than 300 Bottles]; Function: Semi-automatic and Fully Automatic; Application: Corporate Offices, Shopping Malls, Hotels & Restaurants, Hospitals, Airports , and Others; and Distribution Channel: Online and Offline) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’, the global Smart Vending Machine Market in Food and Beverages is expected to reach US$ 21,360.3 Mn by 2027 and expand at a CAGR of 5.9 % from 2019 to 2027.

Read Full Report @ https://www.industryprobe.com/report-desc-overview.php?id=MjIy&name=Beverage-Vending-Machine-Market

As per the report, compared to semi-automatic beverage vending machines, Beverage Vending Machines are expected to witness fastest adoption during the forecast period across the world. Modern Smart Vending Machine Market in Food and Beverages possess various features, which make vending machines user-friendly. The expansion of the Smart Vending Machine Market in Food and Beverages in emerging economies can be attributed to busy schedule, lack of time, and changing consumer preference. Beverage Vending Machines are highly effective, as they help save labor costs, which is also driving the demand for beverage vending machines across the world. Factors, such as increasing promotion and advertisements, adoption of self-service technology, demand for ready-to-drink or packaged beverage, etc. is expected to increase the demand for Smart Vending Machine Market in Food and Beverages across the world says, Industry Probe analyst.

The report anticipates that the increasing government expenditure on public infrastructure such as construction of hospitals, railway stations, airports, public amenities, government guest houses, metros, etc., is expected to accelerate the growth of the Smart Vending Machine Market in Food and Beverages during the forecast period. Growing popularity of Vending Machines in different regions, such North America, Europe, Middle East & Africa, Asia Pacific, and South America is expected to have a positive impact on the overall Market. However, high maintenances and cost of Beverage Vending Machines is a major challenge restricting their adoption.   

Additionally, growing demand from corporate consumers is driving the Smart Vending Machine Market in Food and Beverages across the world. Asia Pacific has high population density, which decreases space for people to live in. This factor has driven the demand for Smart Vending Machine Market in Food and Beverages in the Asia Pacific. The market in China is expected to grow at the fastest rate during the forecast period, due to the rapidly growing retail sector in the country.

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