- +1-315-215-1633
- sales@thebrainyinsights.com
The global touchless vending market was valued at USD 20 billion in 2023 and grew at a CAGR of 12% from 2024 to 2033. The market is expected to reach USD 62.11 billion by 2033. Technological advancements will drive the growth of the global touchless vending market.
Touchless vending is a vending system through which the customer can buy the products without coming in contact physically with the body. The application of touchless technologies in the vending machines has been advanced greatly due to the COVID-19 pandemic, which underlined the need to avoid contact. It is noted that touchless vending machines often use several novelties namely QR codes, mobile application, Near Field Communication (NFC), and Radio Frequency Identification (RFID). In addition, the majority of contemporary touchless vending solutions are compatible with contactless payments, such as mobile Wallets or with vending apps that enable users to make payments directly from their smartphones with simple touch or scan. This advancement not only eradicates the danger of germs transfer but also give an entertaining and attractive outlook of the future of shopping. There are some significant advantages of implementing the touchless vending systems that are not related solely to sanitation and convenience for consumers: they also bring certain advantages to the vending business for vending machine operators. These machines are capable of being linked to cloud applications to facilitate inventory tracking solutions in real time: operators can track stock levels even from a distance; they can also predict when they may need to restock; and they can dissect consumer purchasing behaviours. These increase the operational efficiency as opposed to the need to have a system that frequently shuts down, in result increasing the sales and customer satisfaction. New technological developments have illustrated that people are indeed inclined toward touchless vending solutions, especially if this concept is to be taken out of attenuation settings such as offices or schools and into broader areas such as public transport, airports, or events. This evolution will redefine the convenience at a retail housed environment making touch less vending as an important tool in current consumer environments.
Get an overview of this study by requesting a free sample
The growing health and hygiene concerns – Sanitary and hygienic concerns have somewhat emerged as crucial issues over the last few years affecting consumer buying behaviour and promoting touchless vending solutions. The COVID-19 pandemic also raised consciousness about germs and viruses and put people on the lookout for new ways to avoid contact. Specific contacts with objects of public accessibility or so-called touchpoints—such as original vending machines—turned into possible contamination sites, causing the avoidance of shared contact panels. In this respect, the proper and effective way to avoid directly contacting the products and money was the idea of implementing the touchless vending machines. The adoption of technologies like QR code, NFC, mobile commerce, etc., reduces or in fact eliminates most forms of touch contact and therefore the spread of germs. People nowadays recognize the importance of consuming healthily and opting for a touchless vending system has shown to include healthier snack choices. This again adds appeal to touchless vending as it resonates increasingly with the health-conscious consumer attitudes.
High initial costs – One of the main challenges which prevent a wide implementation of touchless vending solutions is high initial costs. The costs needed to buy and fit these ‘smart’ machines are normally higher than those of regular vending machines, primarily because of the technology they support. Most touchless vending machines are designed with touchless controls, QR code, mobile payment, and IoT interface for checking stocks. Each of them contributes to a total cost, it is a significant capital investment for the operators involved. The cost of installing or even having touchless vending machine is sometimes unaffordable for the small businesses or individual entrepreneurs. In addition, there are installation and employee-training costs that operators must bear in order to avail and operate these new systems. This creates the extra cost and inconvenience since there will be need to train employees on how to use the machines and any problem that may occur within the business.
Technological advancements expanding touchless vending applications – Technological advancements including scanning through QR code, the use of NFC and RFID have helped to eliminate the traditional way of purchasing goods paving the way for smart shopping. This not only increases the level of comfort, but it reduces the level of germ exposure greatly; this is something that the health-conscious customers of current society appreciate. Also, the addition of mobile payment options has enhanced the process of making payment, which is secure. As more and more customers invest in Apple pay and Google pay and the like, clients do not need money or a credit card to buy items; all they need is a tap or a scan. In addition to consumer satisfaction, the use of technology also cuts costs for vending machine operators in their day-to-day business. Most machines are tied to the cloud, making inventory tracking and real time data analysis possible. Operators are able to track the numbers of stocks from distance and even predict the right time to restock, they are also able to determine the consumer habits hence the likelihood of making better decisions and ultimately the chances of making good amounts of money. And as these technologies go on developing, they are not only revolutionizing how consumers interact with vending machines but also optimising business processes in general that turn touchless vending into an appealing option for today’s vending business environments.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global touchless vending market, with a 37% market revenue share in 2023.
The region has been proactive in the use of sophisticated vending technologies due to the increasing customer concerns of germs and easy use especially after emergence of coronavirus. It specifies that the touchless technology vending machine has gained popularity in offices, schools and other transport terminals and many others over time as consumers select to make non-contact transactions. It is crucial to note that the region holds relatively high levels of mobile payment services including Apple Pay and Google Pay among others that support cashless transactions. Furthermore, North American corporations are spending money on the creation and implementation of touchless vending systems with growth and competition.
North America Region Touchless Vending Market Share in 2023 - 37%
www.thebrainyinsights.com
Check the geographical analysis of this market by requesting a free sample
The type of machine segment is divided into touchless snack vending machines, touchless beverage vending machines, touchless food vending machines, and other specialized vending machines. The touchless beverage vending machines segment dominated the market, with a market share of around 35% in 2023. It provides a variety of products, like soft drinks, bottled water, juices and energy drinks. The great consumption of beverages in various settings including offices, schools, gymnasiums, and transportation means that there is always a need for effective dispensing/vending machines for beverages. Also, most of the machines have a smart technology that makes it possible to track the stock and the general preference of the consumers. This analytical method also provides operational effectiveness and at the same time, increases client satisfaction by restocking popular items. Therefore, it can be stated that the convenience, cleanliness, and variety of the offered choices make touchless beverage vending machines one of the most popular segments in the market.
The technology segment is divided into IoT-enabled vending machines, gesture recognition machines, and machine learning and AI-integrated systems. The IoT-enabled vending machines segment dominated the market, with a market share of around 38% in 2023. The use of Internet of Things (IoT) keeps these machines aware of the available stock, sales trends, and can even notify maintenance personnel, all of which keep operators on top of their stock and machinery is not idle. Among such benefits, it can be noted that with the help of IoT devices, vending machines can obtain unique information about the consumers. It enables the operators to amass information about consumption habits hence increasing sales, and satisfaction of products more in tune with the customers’ needs. Moreover, introduced features of IoT and touchless technologies have contributed to improving overall user experience with enhanced interactivity.
The location segment is divided into office buildings, educational institutions, airports and transportation hubs, shopping malls, hospitals and healthcare facilities, and public places. The office buildings segment dominated the market, with a market share of around 36% in 2023. Modern employees value time and efficiency, so being able to receive snacks and beverages via touchless vending is convenient for the constantly busy working population. The use of eradicating touches works in line with corporate companies who take health of their employees into consideration. The belief that many people work long hours and require food and beverages quickly makes touchless vending increasingly common in offices. People at the workplace typically look for convenient sources from which they can purchase foods and beverages and without having to step out and self-serve vending machines help address this need well. Also, cross-product payment methods mean that clients can pay through their mobile devices, which is in line with today’s working generation. Also, touchless vending machines are compact enough to fit any space and can easily be placed in popular areas like break rooms, lobby areas, and near conference hallways so that all employee receives equal conveniences.
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 20 Billion |
| Market size value in 2033 | USD 62.11 Billion |
| CAGR (2024 to 2033) | 12% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Type of Machine, Technology and Location |
As per The Brainy Insights, the size of the global touchless vending market was valued at USD 20 billion in 2023 to USD 62.11 billion by 2033.
Global touchless vending market is growing at a CAGR of 12% during the forecast period 2024-2033.
The market's growth will be influenced by the growing health and hygiene concerns.
High initial costs could hamper the market growth.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global touchless vending market based on below mentioned segments:
Global Touchless Vending Market by Type of Machine:
Global Touchless Vending Market by Technology:
Global Touchless Vending Market by Location:
Global Touchless Vending Market by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.
Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
Free Customization
Fortune 500 Clients
Free Yearly Update On Purchase Of Multi/Corporate License
Companies Served Till Date
