Smart devices are changing the vending marketplaces and are reinventing how consumers do business.
In years past, it wasn’t uncommon for a consumer to physically walk up to a vending machine and physically touch the machine to place their order. Today, a consumer can download a vending app on their phone, walk up to the machine, scan a QR code or order the product that they want right from a smart device without having to actually touch the vending machine.
Thanks to the demand for smart vending solutions, and what’s been happening in the world due to COVID-19, the intelligent vending machine market is expected to grow by up to $15 billion in the next five years. What is the CAGR that’s projected for the interactive kiosk market? Between 2020 and 2027 it’s projected to be an awesome 6.1 percent!
Cashless payments have increased by seven percent in the last 18 months alone. This is encouraging because it shows us that more consumers are open to paying for their products, foods, beverages and other items without having to actually use cash.
