In China, experts are predicting that the vending industry is on the verge of an explosion which is a good reason to visit the China VMF vending exhibition from February 25 to 27 which will be held at the China Import & Export Fair Complex, Guangzhou.
According to the China VMP 2019 organising committee, in the next few year, the Chinese market is expected to increase by 50,000 to 100,000 vending machines a year while the number of vending machines in the domestic market is expected to reach tens of millions.
According to the latest statistics from iResearch, in 2020, the scale of self-service vending market will exceed 65 billion yuan, with a compound annual growth rate of 50% in three years.
According to industry insiders, the domestic self-service sales market has only achieved 10%, and there is still 90% market space to be explored. In addition, there is still plenty of room for smart vending machines to branch out.
With this positive outlook the vending industry is currently looking at how to use existing technology to improve and develop and how to discover more profitable regions.