Predicted growth of vending market

An analysis by Technavio suggests that growth in the vending machine market is expected to continue strongly, despite the impact of COVID-19, by approximately 11% (on a CAGR basis) during 2020-2024.

The value of the worldwide vending market is estimated to be around $13 billion per year currently, and predicted to grow to nearly $23 billion per year by 2024.

Intelligent vending machines are expected to be a key component of this growth, as is further customization of vending machines, to serve a variety of goods.