September 15th, 2024 - Vending Technology News

Online Food Delivery Market Growth Presents Opportunities for Vending Operators

The rapid expansion of the online food delivery market is creating new avenues for growth and innovation within the refreshments industry. As consumer preferences shift towards convenience and on-demand services, vending operators are uniquely positioned to capitalize on this trend.


Market Growth and Projections

According to a recent market research report from SkyQuest Technology:

  • The online food delivery market was valued at $60.18 billion in 2022.
  • It is estimated to reach $71.43 billion in 2023.
  • Projections indicate a value of $281.52 billion by 2031.
  • The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.7% from 2024 to 2031.

These figures suggest a significant shift in consumer behavior towards convenience-driven food services, which closely aligns with services the refreshments industry is already offering.


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PayRange for Vending Business!

AI-Driven Beverage Platform Unveils New Opportunities for Refreshment Operators

DRINKS, a leading innovator in beverage e-commerce solutions, has announced the launch of its DaaS (Drinks as a Service) platform. This cutting-edge solution transforms how refreshment operators manage and market alcohol. The platform simplifies the complex landscape of compliance and taxation, offering a cost-effective way to engage with a vast consumer base.



“DRINKS’ DaaS platform breaks down the traditional barriers to alcohol eCommerce for refreshment operators,” said Zac Brandenberg, Co-Founder & CEO of DRINKS, in a recent press release. “Our comprehensive solution connects the existing alcohol ecosystem with the broader market of brands, influencers, and creators. This creates an unparalleled opportunity for businesses of all sizes to seamlessly integrate alcohol sales into their operations. With built-in compliance and safety features, along with AI-powered insights, we are setting a new standard for the industry.”

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ACE 2024

IoT Trends to Watch, According to CEO of OptConnect, Chris Baird


The Internet of Things (IoT) industry is experiencing rapid growth, with Statista predicting 32.1 billion IoT devices by 2030. Chris Baird, CEO of OptConnect, highlighted several key trends in a recent, exclusive interview with IOT Insider.


Pandemic Accelerated Existing Trends

Baird noted that the pandemic accelerated the push for constant connectivity. As suggested in the interview, existing trends grew rapidly, with many retailers using interactive kiosks to replace positions that would typically involve human interaction. During this period, many businesses adopted technology to replace in-person interactions, including OptConnect.


Rising Connectivity and Data

The pandemic led to substantial infrastructure investments, with major U.S. carriers expanding their fiber networks. With the number of connected devices expected to reach about 30 billion, there’s a vast amount of data to handle. This demands advanced technologies like AI and machine learning to process and extract actionable insights.


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Nicole Turner

Sales and Media Director

nicole@vendcentral.com | 608-931-7613

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