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Intelligent Vending Machines Market growth will be impelled by rising the demand for smart dispensing solutions in several industrial segments

Author : Ronak Bora | Published Date : 2019-03-25 

Intelligent Vending Machines Market growth will be driven by increasing applications of smart dispensing solutions at public transport hubs such as airports, railways stations, and bus stands.. The adoption of food & beverage-dispensing equipment in these places is growing rapidly. These transportation hubs are engaged in transforming their manual operational techniques to automated technologies. For instance, the Indian Railways is investing heavily in automation. In June 2018, it installed automatic food vending machines in the Coimbatore-Bengaluru UDAY Express. These machines are operated using a tablet. Moreover, they are planning to install such systems in several other trains in the future, accelerating intelligent vending machines market.

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The intelligent vending machines 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.

The growing adoption of the snack & coffee dispensing solutions at offices is expected to drive the intelligent vending machines 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 intelligent vending machine market.

Food dispensing machines are predicted to witness a high demand from several application areas in the intelligent vending machines 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. The retail industry 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 intelligent vending machine market.

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The Europe intelligent vending machines market is rapidly growing owing to the rising adoption of smart technologies for serving customers in several application areas. These machines are allowing customers to change their mode of payment to cashless transactions. Countries including Sweden, Germany, France, the UK, and Italy are developing various initiatives and programs to digitize the payment process. Sweden is a leading country to adopt stringent guidelines for transforming itself into a cashless economy. For instance, in 2013, some of the major banks including Nordea Bank, SEB, and Swedbank refused to hand over physical currency to its customers in over 75% of their branches in the country. Such digital currency initiatives are encouraging the market players to develop advanced solutions that will support cashless payments.

The Asia Pacific intelligent vending machines 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 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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