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Adding Smarts to Vending Machines Drives Convenience, Efficiency

Advanced feature sets and functionality are projected to drive the market for connected vending to nearly nine million units by 2024.

Keith Kirkpatrick

From Communications of the ACM | March 1, 2023

Adding Smarts to Vending Machines Drives Convenience, Efficiency

Communications of the ACM, March 2023, Vol. 66 No. 3, Pages 20-22 10.1145/3579651

Vending machines, which allow people to easily purchase items without interacting with a human worker, have been around since the 1st century, when a Greek engineer and mathematician named Hero Alexandria created a machine that accepted a coin before dispensing holy water at a temple, to prevent people from taking more than their share of holy water.

Two millennia later, a far greater number and variety of products can be purchased from vending machines, thanks in part to the advent of new technologies including always-on, Internet of Things (IoT) connectivity, advanced physical and digital controls that allow these machines to be placed in a wide variety of settings, and the use of artificial intelligence (AI)-based algorithms that can capture and analyze customer insights, improve stocking efficiency, and deliver greater levels of personalization to customers.

The global installed base of connected vending machines reached an estimated 2.4 million units in 2019, according to Berg Insight, a research firm that tracks the installed base of connected vending machines. Connected vending machines are equipped with an always-on Internet connection, which allows data to be sent between machines in the field and management software, enabling real-time payments, monitoring, and remote management of the machines.

Advanced feature sets and functionality are projected to drive the market to nearly nine million units by 2024, according to Berg Insight, helped along by the desire of organizations to better serve customers without needing to attract and retain relatively costly human workers.  ... '