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.
Some of the major firms, including Coca-Cola, are apparently working on smart vending machines which are integrated with recycling technologies. Further, nations like the U.S., the UK, China and India have also adopted policies and initiatives to lower plastic usage, that would augment the growth of Intelligent vending machines market.
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The global Intelligent vending machines market has lately been growing at a significant pace lately, characterized by an increase in the development of the energy-efficient solutions by producers that will assist companies in reducing their carbon footprint. Notable companies in this vertical are building eco-friendly as well as recycling vending machines for providing sustainable technologies to lower environmental impacts.
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 machines market.
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 Intelligent vending machines market.
The growing adoption of the snack & coffee dispensing solutions at offices is expected to drive the 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 intelligent vending machines 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. 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 machines market.
A rise in the demand for smart dispensing solutions in several industrial segments including public transportation and entertainment is predicted to propel the industrial demand. With growing urbanization, theaters and fun zones are incorporating modern technologies in their facilities to attract customers. The competition in the industry is based on the quality of services being offered to customers that will enhance their satisfaction levels. With the adoption of smart dispensing solutions, these companies are able to cater their products to a wide range of customers, meet consumer requirements, and manage queues. Such factors are encouraging these application segments to transform their traditional techniques to intelligent solutions, thereby accelerating the intelligent vending machines market.
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