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Intelligent Vending Machine Market will gain huge adoption of smart solutions in retail & restaurant outlets

Author : Ronak Bora | Published Date : 2019-05-02 

Intelligent Vending Machine Market in retail sector is installing such technologies based on products that need to be stored in outlets. Snack dispensing solutions are the most widely adopted solutions in the  vending machine market. Food dispensing machines are predicted to witness a high demand from several application areas in the vending machine market. The adoption of these smart solutions in retail & restaurant outlets is growing rapidly. Manufacturers operating are offering different types of dispensing solutions depending upon the food item being served. Several types of food dispensing solutions include snacks, vegetables, ice creams, cakes, fruits, and candy vending machines. 

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The growing adoption of the snack & coffee dispensing solutions at offices is expected to drive the intelligent vending machine market. Corporate offices are installing smart technologies that provide various features such as biometric authentication, mobile connectivity, coupon vending, etc., which help enterprises to ensure the safety of the equipment and enhance ease in vending the products. Several corporate sectors provide coupons such as Sodexo coupons to their employees to compensate for their food expenses. Coupon vending machines are being incorporated in such application areas for reducing the efforts and time spent by the management for distributing such coupons. The installation of such smart dispensing technologies at corporate offices will accelerate the vending machine market.

Vending machines have come a long way from their basic design and now are equipped to perform a lot more than dispense items and provide change. At present vending machines are designed to not only provide items requested but provide nutritional or other information about the items, interact with the customer to make suggestions about the purchase and even prepare fresh food. For example, in Italy a pizza vending machine called Let’s Pizza has been developed that prepares customized pizzas in less than 3 minutes. A window in the front allows customers to watch the flour being kneaded, the rolling of the pizza disc, spreading of the tomato paste and other ingredients and the finished creation baked in infra-red rays. The growth of the intelligent vending machine market is being driven by smart technology that brings together the convenience and availability of instant transactions with the tailored, entertaining and connected retail experience that customers have come to expect.

The intelligent vending machine market has been expanding rapidly in recent times as technology continues to transform the world and disruptive technology is becomes the order of the day. For instance, recently, greenbox Robotics, a Southern California tech company, designed an intelligent vending machine that can dispense marijuana and CBD. The company’s chief motivation behind designing such a technology was the long queues in cannabis dispensaries.

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A rise in the application of smart dispensing solutions at public transport hubs like bus stands, railways stations, and airports is estimated to accelerate the growth of vending machine market. Transportation hubs are now focusing on transforming their operational techniques from manual to automatic. For example, the Indian Railways is heavily investing in automation and has installed an automatic food vending machine, operated using a tablet, in the Coimbatore-Bengaluru UDAY Express, in June 2018. Furthermore, the state-owned railway firm is planning to install similar systems in other trains in the future, which will drive the growth of vending machine market. 

The Asia Pacific intelligent vending machine market will expand at a rapid pace over the coming years due to growing digitalization and urbanization trends in several economies including India, China, and Japan. Increasing customer crowd in retail, restaurant, and entertainment sectors is encouraging store owners to implement advanced technologies that will help in customer engagement, thereby driving sales and profitability. Moreover, the rising trend of automation in business operations is a major factor propelling the growth of the vending machine market.

Though U.S. has the most vending machines in the world, Japan has the highest density of vending machines with 5.5 million machines in 2016 that put one machine for every 50 people and is known for carrying more range of products that available anywhere else in the world. Fascination with technology, low crime rate, need for convenience etc. have driven the vending machine market in the country, but Japan being the pioneer of technology has presented the next step for intelligent vending machine market.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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