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The Latin America, Middle East and Africa Vending Machine Market would witness market growth of 19.9% CAGR during the forecast period (2017-2023). The vending machines are por TABLE automatic machines that dispense different products when money is inserted. Developing countries have adopted vending machines which are very convenient to use. Vending machine technology continues to provide latest advancements like face recognition systems, ID card identification to check the buying history of customers, thereby ushering an era of technologically advanced vending machines. This regions show comparatively lower adoption of self-service technologies and technologically advanced products. However, the increasing population and rapid growth in industrialization have fuelled the demand for self-service offerings in the region, majorly in middle-east and Africa. Africa is an unexplored area hence, attracts Vending Machine makers to maximize their presence in this region. In African region, more than 80% of all the Vending Machines are installed in South Africa, Nigeria and in Morocco. In order to remain proactive and increase their market share, companies operating in the region are offering basic components in their machines that attract the customers.
Based on Type, the Vending Machine market segments the market into Beverages, Snacks, Gumball & Candy, and Specialized. Based on Solution, the market report segments the market into Managed Services and Deployment. Based on End User, the Vending Machine market segments the market into QSR, shopping malls, & Retail Stores, Offices, Public Transport, and Others. Based on Countries, the Vending Machine market segments the market into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the Latin America, Middle East and Africa Vending Machine Market. Key companies profiled in the report include Azkoyen Group, Compass Group, Plc, Aramark Corporation, Bianchi Vending Group S.p.A., Honeywell International, Inc., Hitachi, Ltd., Fujitsu Limited, Fuji Electric Co. Ltd., Glory, Ltd., and IBM Corporation.