Connected Vending Machine Market Size and Share

Connected Vending Machine Market (2025 - 2030)
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Connected Vending Machine Market Analysis by Mordor Intelligence

The Connected Vending Machine Market size is expected to grow from 8.08 million units in 2025 to 9.04 million units in 2026 and is forecast to reach 15.82 million units by 2031 at 11.86% CAGR over 2026-2031. Cashless payment penetration, expanding transit networks, and rising demand for healthier on-the-go meals accelerate machine roll-outs, while IoT sensors and cloud dashboards enable predictive restocking that lifts uptime and sales. Stand-alone cabinets still dominate placements because they stock broad assortments, yet space-saving wall-mounted units scale fastest as corporate landlords defend rentable floor area. Fresh and frozen food outpaces legacy beverages as workplace diners seek meal replacements close to their desks. Regionally, North America leverages mature contactless infrastructure to keep leadership, but Asia-Pacific’s mobile-first consumers and rapid urban transit build-outs give it the steepest growth curve. Competitive rivalry remains moderate as global OEMs such as Azkoyen and Fuji Electric face nimble local makers; payment specialists, including Nayax, enlarge installed footprints by bundling hardware-agnostic telemetry and cashless modules.

Key Report Takeaways

  • By machine type, stand-alone cabinets held 59.55% of the connected vending machine market share in 2025; wall-mounted units are forecast to post a 13.55% CAGR through 2031.
  • By product category, beverages accounted for 37.65% of the connected vending machine market size in 2025, while fresh and frozen food is advancing at a 13.74% CAGR through 2031.
  • By application, corporate offices and co-working spaces led with a 28.95% share in 2025; railway and metro stations post the highest projected CAGR at 13.32% to 2031.
  • By connectivity, telemetry-enabled systems held a 35.10% share in 2025, whereas AI-powered machines are set to grow at a 14.18% CAGR through 2031.
  • By payment technology, cash and coin mechanisms captured 38.85% of the connected vending machine market share in 2025, while biometric face-pay solutions are projected to expand at a 14.07% CAGR by 2031.
  • By geography, North America captured 37.25% revenue in 2025, as Asia-Pacific is poised for the fastest 14.22% CAGR between 2026 and 2031.

Note: Market size and forecast figures in this report are generated using Mordor Intelligence’s proprietary estimation framework, updated with the latest available data and insights as of 2026.

Segment Analysis

By Machine Type: Wall-Mounted Units Drive Space Optimisation

Stand-alone cabinets accounted for 59.55% of 2025 placements, anchoring the connected vending machine market with broad SKU capacity that suits transport concourses and campuses. Wall-mounted designs are now compounding at 13.55% as landlords squeeze incremental services into corridors and break-rooms. The connected vending machine market size for stand-alone units remains large, yet compact fixtures attract operators seeking incremental revenue without floor-space trade-offs.

Technological miniaturisation enables wall units to match larger cousins on payment options, remote telemetry, and multi-temperature storage. Touchscreens, LED lighting, and cloud SKU tracking come standard, while lighter frames lower installation costs. These traits lift adoption across hospitals, schools, and boutique co-working sites where safety codes restrict floor obstruction.

Connected Vending Machine Market: Market Share by Machine Type, 2025
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Connected Vending Machine Market: Market Share by Machine Type, 2025

By Product Type: Fresh Food Innovation Reshapes Offerings

Beverages held 37.65% of 2025 revenue due to established cold-chain logistics, but fresh and frozen food is compounding at 13.74% as consumers embrace healthier grab-and-go meals. Operators rely on IoT temperature logs to satisfy HACCP standards and on AI price markdowns to curb spoilage, boosting the connected vending machine market’s appeal in corporate dining replacements.

Dynamic salad kiosks in Tokyo, which flex prices by time of day to reduce waste, prove the model’s viability. New packaging keeps food fresh for 48 hours, while predictive restocking routes align supply with consumption peaks. These innovations elevate consumer trust in perishable automated retail.

By Application: Transit Hubs Accelerate Roll-outs

Corporate offices captured 28.95% of machines in 2025 as facilities teams upgraded pantry services, yet rail and metro sites show a 13.32% CAGR through 2031, outstripping all other channels. Long concourses and 24-hour footfall raise machine utilisation, making the connected vending machine market attractive to concessionaires and transport authorities seeking non-fare revenue.

Transit operators value the analytics that come with networked kiosks; dashboards heat-map passenger flows, guiding terminal redesigns, and media placement. API links to transit smart-card systems create frictionless pay-at-gate experiences, reinforcing vending as an extension of mobility infrastructure.

Connected Vending Machine Market: Market Share by Application, 2025
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Connected Vending Machine Market: Market Share by Application, 2025

By Connectivity/Technology: AI-Powered Systems Lead Innovation

Telemetry-only fleets still form 35.10% of the installed base, giving operators remote alerts and basic stock counts. However, AI-enabled vision units are expanding at 14.18% and redefine the connected vending machine market by automating item recognition, loss prevention and personalised promotion.

Computer-vision kiosks register 99.5% pick accuracy, letting shoppers open smart lockers, choose items, and close doors while edge processors bill in seconds. Predictive maintenance modules schedule part swaps before failure, trimming downtime and service costs. This autonomous capability underpins higher uptime and incremental revenues that justify premium hardware pricing.

By Payment Technology: Biometric Authentication Gains Traction

Cash and coin still processed 38.85% of 2025 purchases, but biometric wallets are sprinting ahead at 14.07% CAGR as patrons trade anonymity for speed and ticketless journeys. DyDo’s face-pay pilots cut swipe time to 2 seconds and strengthen age-controlled sales compliance.

The connected vending machine market size for advanced payment modules will rise as operators slash card interchange fees and gather richer profile data for loyalty schemes. While compliance with GDPR-like rules is mandatory, local data processing and anti-spoofing algorithms mitigate privacy risks and encourage adoption across regulated product lines.

Geography Analysis

North America generated 37.25% of global revenue in 2025, reflecting sophisticated payment rails, early enterprise IoT adoption, and supportive data-privacy statutes that streamline deployments in corporate campuses and transportation venues. Cashless acceptance tops 80% across metro areas, so operators view AI upgrades as the next lever to lift same-machine sales.

Asia-Pacific is on a 14.22% CAGR path, underpinned by China’s manufacturing scale and mobile-wallet ubiquity. Domestic builders such as AFEN turn out 120,000 units annually, shipping to over 100 nations, while Thailand’s Tao Bin fleet moves 200,000 drinks daily through QR and face-pay interfaces. Urban rail extensions from Jakarta to Ho Chi Minh City place modern kiosks front and centre of commuter convenience.

Europe records stable yet policy-driven growth, spurred by single-use plastic rules and container deposit mandates that favour connected reverse vending endpoints. TOMRA’s 98% bottle return rate across Scandinavia showcases the model, while EU GDPR pushes vendors toward edge processing to keep personal data on-device. Emerging corridors in the Middle East, Africa, and South America display early-stage adoption; as telecom operators roll out 4G/5G, vending firms partner with public-health bodies, exemplified by LA County’s free naloxone kiosks, to build brand familiarity.

Connected Vending Machine Market CAGR (%), Growth Rate by Region
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Regulatory Landscape

Connected vending machines operate under a mix of food-contact hygiene, electrical safety, payment acceptance, and data-privacy rules that vary by geography. In the United States, the Federal Register on January 20, 2026 documented the withdrawal of a proposed rulemaking related to definitions under the Randolph-Sheppard vending facility program, indicating continued regulatory adjustments for public-site vending. NSF/ANSI 25-2025 for food and beverage vending machines was published on March 30, 2026, creating an updated reference point for machine design, cleanability, and operator practices as fresh and frozen food assortments expand.

Hardware compliance remains anchored in UL 751 (US/Canada), CE marking (EEA), and IEC 60335-2-75 (international). Energy-efficiency requirements in California, Washington, and New York also constrain refrigeration, standby power, and display configurations for connected cabinets. On the payments side, policy proposals such as the Payment Choice Act of 2025 would require cash acceptance for on-site sales, even as mobile wallets, EMV, and biometric options proliferate across connected endpoints.

Value Chain Analysis

The connected vending machine value chain begins with component suppliers, including refrigeration systems, sensors, cameras, controllers, and secure payment peripherals. It then shifts to OEMs and integrators that assemble cabinets and retrofit kits, followed by connectivity providers (SIM/eSIM, 4G/5G modules) and software layers for telemetry, content management, and fleet analytics. Payment-technology vendors occupy a critical junction by enabling cashless acceptance and device management across mixed fleets; for example, Nayax scaled by bundling hardware-agnostic cashless and telemetry modules, which reduces integration friction for operators running multi-brand assets.

Downstream, operators and route-service companies manage placement, planograms, replenishment, and compliance logs, while site owners control access, security, and power and network approvals. Standardization efforts are becoming more influential as fleets diversify. SmartLink, supported by efforts involving the European Vending Association and OPC Foundation-based approaches, is used to improve interoperability between machines, peripherals, and back-office software. Organizational moves also point to sector convergence, including Azkoyen creating Azkoyen Vending & Payment Solutions, S.L., and Crane Payment Innovations rebranding as Crane Convenience in January 2026, with greater emphasis on integrated convenience services.

Competitive Landscape

The connected vending machine market is moderately fragmented; no single brand exceeds 10% shipment share, and the top five hold roughly 35%. Global OEMs—Azkoyen, Fuji Electric, and Crane Payment Innovations—supply multinationals, while local specialists tailor SKUs for regional regulations. Payment-technology vendors such as Nayax reached 1.33 million connected devices by bundling hardware-agnostic telemetry, helping operators unify mixed fleets.

Strategic alliances multiply. DyDo’s 2025 alliance with Asahi Soft Drinks merges route logistics and AI payment pilots, broadening service coverage. In the United States, 365 Retail Markets paired with Bright Light Solutions to integrate vision checkout into micro-markets, while Cantaloupe’s takeover of SB Software added ERP depth to its European proposition.

Patent filings reveal a competitive thrust toward securing key technologies. “Cooler Lock” grants remote control of refrigerated access, and “Multi-modal distribution” links kiosks with autonomous vehicles for last-mile fulfilment. Such IP stakes build defensive moats as AI and biometrics converge with vending hardware.

Connected Vending Machine Industry Leaders

  1. Azkoyen Group

  2. Fuji Electric Co. Ltd.

  3. Crane Payment Innovations (CPI)

  4. Evoca Group

  5. SandenVendo America

  6. *Disclaimer: Major Players sorted in no particular order
Connected Vending Machine Market Concentration
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Market Opportunities and Future Outlook

Interoperability and protocol standardization are creating room for multi-vendor fleet modernization. The SmartLink protocol, launched at Venditalia 2026, introduces a communication standard for connected vending based on OPC UA technology to standardize data exchange across mixed-vendor fleets. As standards mature, solution providers can package faster retrofit pathways, device-agnostic payments, and centralized compliance reporting for temperature logs and inventory records, which can improve adoption economics for smaller operators facing higher upfront costs.

Smart coolers and vision-enabled micro-retail formats are also expanding placement and merchandising models that blur the line between vending and unattended retail. Industry reporting indicates smart coolers account for 33.5 percent of deployed equipment. AI-driven assortment optimization and mobile-wallet payments are paired with broader software services such as remote diagnostics and route optimization, helping operators extend value beyond core sales as transit systems and corporate sites prioritize contactless experiences and uptime.

Recent Industry Developments

  • June 2026: JumpStart (Indonesia) secured Series C funding from Cool Japan Fund to accelerate AI-powered and cashless vending deployments. The investment is intended to expand JumpStart's network across APAC and strengthen its Retail Tech capabilities.
  • April 2026: WeVend & SandStar launched an AI-powered smart cooler with QR-based payments and Batch Shopping Cart technology. The devices use computer vision to recognize products and enable multi-item checkout.
  • February 2026: Wise Equity acquired a majority stake in FAS International to expand connected vending solutions in Europe. The acquisition broadens Wise Equity's Retail Tech platform capabilities and strengthens the European footprint.

Table of Contents for Connected Vending Machine Industry Report

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET LANDSCAPE

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Growing adoption of cashless and mobile payments
    • 4.2.2 Demand for contactless, hygienic retail
    • 4.2.3 Retail automation to offset labour costs
    • 4.2.4 Rapid expansion of transit hubs (airport/rail)
    • 4.2.5 Integration with deposit-return reverse-vending
    • 4.2.6 Programmatic DOOH advertising revenue streams
  • 4.3 Market Restraints
    • 4.3.1 High initial cap-ex and installation outlay
    • 4.3.2 Vandalism and security of unattended assets
    • 4.3.3 Fragmented connectivity/protocol standards
    • 4.3.4 School nutrition regulations limiting SKUs
  • 4.4 Industry Value Chain Analysis
  • 4.5 Regulatory Landscape
  • 4.6 Technological Outlook
  • 4.7 Industry Attractiveness – Porter’s Five Forces Analysis
    • 4.7.1 Bargaining Power of Buyers
    • 4.7.2 Bargaining Power of Suppliers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes
    • 4.7.5 Intensity of Competitive Rivalry
  • 4.8 Key Metrics
    • 4.8.1 User Penetration Rate
    • 4.8.2 Average Revenue per User (ARPU)
  • 4.9 Impact of Macroeconomic Factors on the Market

5. MARKET SIZE AND GROWTH FORECASTS (SHIPMENTS)

  • 5.1 By Machine Type
    • 5.1.1 Wall-mounted
    • 5.1.2 Table-top
    • 5.1.3 Stand-alone cabinet
  • 5.2 By Product Type
    • 5.2.1 Beverages
    • 5.2.2 Snacks
    • 5.2.3 Fresh and Frozen Food
    • 5.2.4 Confectionery
    • 5.2.5 Others
  • 5.3 By Application
    • 5.3.1 Airports
    • 5.3.2 Railway and Metro Stations
    • 5.3.3 Corporate Offices and Co-working Spaces
    • 5.3.4 Educational Institutes
    • 5.3.5 Healthcare Facilities
    • 5.3.6 Retail and Shopping Centres
  • 5.4 By Connectivity/Technology
    • 5.4.1 Telemetry-enabled (semi-connected)
    • 5.4.2 Fully IoT-connected (cloud CMS)
    • 5.4.3 AI-powered Smart Machines
    • 5.4.4 Reverse-vending/Deposit-return
  • 5.5 By Payment Technology
    • 5.5.1 Cash and Coin
    • 5.5.2 Card Reader (EMV)
    • 5.5.3 Mobile Wallet/NFC
    • 5.5.4 Biometric/Face-pay
  • 5.6 By Geography
    • 5.6.1 North America
    • 5.6.1.1 United States
    • 5.6.1.2 Canada
    • 5.6.1.3 Mexico
    • 5.6.2 South America
    • 5.6.2.1 Brazil
    • 5.6.2.2 Argentina
    • 5.6.2.3 Chile
    • 5.6.2.4 Rest of South America
    • 5.6.3 Europe
    • 5.6.3.1 Germany
    • 5.6.3.2 United Kingdom
    • 5.6.3.3 France
    • 5.6.3.4 Italy
    • 5.6.3.5 Spain
    • 5.6.3.6 Russia
    • 5.6.3.7 Rest of Europe
    • 5.6.4 Asia-Pacific
    • 5.6.4.1 China
    • 5.6.4.2 India
    • 5.6.4.3 Japan
    • 5.6.4.4 South Korea
    • 5.6.4.5 Singapore
    • 5.6.4.6 Malaysia
    • 5.6.4.7 Australia
    • 5.6.4.8 Rest of Asia-Pacific
    • 5.6.5 Middle East and Africa
    • 5.6.5.1 Middle East
    • 5.6.5.1.1 United Arab Emirates
    • 5.6.5.1.2 Saudi Arabia
    • 5.6.5.1.3 Turkey
    • 5.6.5.1.4 Rest of Middle East
    • 5.6.5.2 Africa
    • 5.6.5.2.1 South Africa
    • 5.6.5.2.2 Nigeria
    • 5.6.5.2.3 Rest of Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration
  • 6.2 Strategic Moves
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)
    • 6.4.1 Azkoyen Group
    • 6.4.2 Fuji Electric Co. Ltd.
    • 6.4.3 Crane Payment Innovations (CPI)
    • 6.4.4 Evoca Group
    • 6.4.5 SandenVendo America
    • 6.4.6 FAS International S.p.A.
    • 6.4.7 Bianchi Vending Group S.p.A.
    • 6.4.8 Rhea Vendors Group
    • 6.4.9 Seaga Manufacturing Inc.
    • 6.4.10 Westomatic Vending Services Ltd.
    • 6.4.11 Jofemar Corporation
    • 6.4.12 Sielaff GmbH
    • 6.4.13 Fastcorp Vending LLC
    • 6.4.14 Automated Merchandising Systems Inc.
    • 6.4.15 U-Select-It (USI)
    • 6.4.16 TCN Vending Machine Co. Ltd.
    • 6.4.17 Haloo Automation Equipment Co. Ltd.
    • 6.4.18 Futura Vending Pte Ltd.
    • 6.4.19 Yo-Kai Express Inc.
    • 6.4.20 Vendekin Technologies Pvt Ltd.
    • 6.4.21 Nayax Ltd.
    • 6.4.22 TOMRA Systems ASA
    • 6.4.23 Vendex International Ltd.
    • 6.4.24 Royal Vendors Inc.
    • 6.4.25 Fastenal (Industrial Vending)

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 White-Space and Unmet-Need Assessment

Research Methodology Framework and Report Scope

Market Definition and Coverage

This market covers vending machines that are connected to a network and can share data for remote monitoring, inventory visibility, cashless payments, and machine health alerts. We size the market in units to reflect shipments and installed adoption, not only spending.

Scope exclusions: We exclude traditional offline vending machines that lack connectivity hardware or active telemetry service.

Segmentation Overview

  • By Machine Type
    • Wall-mounted
    • Table-top
    • Stand-alone cabinet
  • By Product Type
    • Beverages
    • Snacks
    • Fresh and Frozen Food
    • Confectionery
    • Others
  • By Application
    • Airports
    • Railway and Metro Stations
    • Corporate Offices and Co-working Spaces
    • Educational Institutes
    • Healthcare Facilities
    • Retail and Shopping Centres
  • By Connectivity/Technology
    • Telemetry-enabled (semi-connected)
    • Fully IoT-connected (cloud CMS)
    • AI-powered Smart Machines
    • Reverse-vending/Deposit-return
  • By Payment Technology
    • Cash and Coin
    • Card Reader (EMV)
    • Mobile Wallet/NFC
    • Biometric/Face-pay
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Chile
      • Rest of South America
    • Europe
      • Germany
      • United Kingdom
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Singapore
      • Malaysia
      • Australia
      • Rest of Asia-Pacific
    • Middle East and Africa
      • Middle East
        • United Arab Emirates
        • Saudi Arabia
        • Turkey
        • Rest of Middle East
      • Africa
        • South Africa
        • Nigeria
        • Rest of Africa

Data Sources, Market Sizing, and Validation

Desk Research

Desk research is used to set market boundaries and build the first view of demand signals that can be checked later in interviews. We rely on public sources such as the US Census Bureau, Bureau of Labor Statistics, Eurostat, OECD digital economy publications, and ITU references to understand macro retail activity, workplace patterns, and connectivity readiness by region.

We also review company filings, earnings materials, investor presentations, and reputable press coverage to track themes such as cashless adoption, telemetry usage, and upgrade cycles. Select paid database subscriptions are used where needed, mainly for company financial intelligence, patent databases, and import and export shipment-level checks that help confirm directionally consistent movement of machines and key sub-assemblies. The sources listed here are illustrative, and many other public and paid references were used to collect data, validate it, and clarify assumptions.

Primary Interviews and Surveys

Primary work converts desk assumptions into usable model inputs, especially where public data is not specific to connected vending. We validate replacement cycles, connectivity activation behavior, and adoption by location type through interviews and structured surveys with operators, machine OEM teams, payment and telemetry ecosystem participants, and service providers across major regions.

Distribution of primary research fieldwork respondents

Company typeRespondent positionRegion
Top tier: 32% CXOs: 14%APAC: 43%
Mid tier: 53% Functional/Unit leaders: 33%EMEA: 34%
Smaller Players: 15% Managers: 53%Americas: 23%

Market-Sizing & Forecasting

Sizing is built using top-down market reconstruction, where vending machine shipments and the connected share are estimated by region and then translated into connected units over time. To keep results realistic, we corroborate totals with selective bottom-up approximations, such as sampled shipment roll-ups by supplying regions, channel checks on retrofit versus new build mix, and cross-checks that compare implied unit movement with service activation trends.

A few practical fingerprints are used as inputs because they repeatedly come up in field discussions and public signals. These include the vending installed base and refresh cycles, cashless penetration at unattended retail, telemetry or remote management attach rates, the split of deployments by location type (offices, transit, public venues), and connectivity readiness for cellular or low-power IoT. Forecasting is built using scenario analysis around adoption speed and replacement timing, and then the base case is aligned to expert consensus so growth does not rely on unrealistic step changes. Where smaller countries have thin data, gaps are filled using proxy indicators such as urban workforce density and cashless usage levels, then normalized back to regional totals to keep the roll-up consistent.

Data Validation & Update Cycle

Validation is done through multiple checks that look for inconsistencies before figures are finalized. Outputs are compared with independent signals such as connected installed base references, shipment directionality, and adoption patterns implied by cashless and telemetry usage, then large variances are investigated by geography and location type. If an assumption causes unusual jumps, it is re-tested and experts are re-contacted so the model reflects what is happening in the field.

Reports are refreshed annually, with interim updates when a material event affects adoption, pricing, or operating conditions. Before delivery, an analyst completes a fresh pass to confirm that currency timing, inflation expectations, and major channel shifts have been reflected so clients receive the latest updated view.

Mordor Intelligence's Connected Vending Machine Market Size Versus Other Published Estimates

Market estimates for connected vending machines often vary because different studies do not measure the same underlying pool, and they also do not update assumptions at the same speed. Some figures are based on installed base counts, while others reflect shipments, which can diverge when replacement cycles and retrofit activity change.

The biggest gaps usually come from refresh cadence, the currency timing used when unit series are converted into value series, and how ASP is modeled as machines add screens, cashless acceptance hardware, and remote management features. When inactive connections are still counted as connected, or when legacy vending is blended into the totals, the market size can shift without a clear link back to operational reality.

Benchmark comparison

SourceMarket SizeGaps in Research Methodology
Mordor Intelligence USD 9.04 M (2026)
Trade Journal A USD 8.10 M (2025)Built from installed base counts for 2025, which can lag shipment-led additions in years when operators accelerate upgrades or retrofits.
Industry Publisher B USD 11.70 M (2030)Reports a forward-year installed base total and applies a smoother growth path, which can miss replacement wave effects and changes in technology mix by region.

The range in published values is mainly explained by the year selected and whether the metric is shipments or installed base, followed by differences in how pricing and conversion inputs get updated. With an annual refresh and interim checks when payment and telemetry adoption shifts, the ASP and currency assumptions are revalidated against field feedback, which keeps the unit-to-value translation current for Mordor Intelligence.

Key Questions Answered in the Report

What is the current size of the connected vending machine market?

The connected vending machine market size stood at 9.04 million units in 2026 and is on track to hit 15.82 million units by 2031.

Which segment is expanding fastest within the connected vending machine market?

AI-powered machines lead growth with a 14.18% CAGR because their predictive analytics and vision checkout lift sales and cut service costs.

Why are wall-mounted machines gaining popularity?

Companies prefer wall-mounted units to free up floor space while still offering broad product ranges, driving a 13.55% CAGR for this format.

Which region is forecast to grow quickest?

Asia-Pacific shows the strongest momentum at a 14.22% CAGR, fuelled by mobile payment ubiquity and rapid transit-hub construction.

How are cashless payments affecting vending operations?

Contactless cards, NFC phones and biometric wallets already make up close to half of transactions in leading markets, raising sales by reducing cash-handling barriers and enabling loyalty programs.

What key risk could slow the connected vending machine industry?

High upfront hardware costs and site retrofits can lengthen payback periods, discouraging smaller operators from full fleet upgrades in the short term.

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