Rapid technological advancement has an impact on every business, including the vending industry
.The days of a basic candy or beverage machine are passed; today's consumers choose machines that are more sophisticated and offer expanded services. Automation and "micro marketplaces" are also growing in popularity.
Over the past few years, the vending machine industry has undergone significant change. Using clever and sophisticated technologies, the industry has implemented innovations ranging from touch-enabled high-definition screens to remote device management software technology to go far beyond simply dispensing food and beverage.
In India, the vending machine market is expected to witness robust growth on account of booming retail industry and rapid urbanization. According to a report by Research and Market, the Indian vending machine market is expected to witness substantial growth of 14.9% CAGR till 2026.
Some major developments like Automation, implementation of AI and ML, etc are already taking robust shape in the industry. In this article, we have compiled a list of three most notable advancements creating major disruptions in the vending industry.
Automated Vending Shops
has been experimenting with automated retail for a while. The corporation introduced the first automated store, named Amazon Go, in 2016, which revolutionized unattended shopping. Vending machines are often fully automated, but this might be the start of something bigger.
As the market expands, so do market trends, providing a greater range of commodities such food items, soft drinks, hot beverages, and other selections that are often available in supermarkets. Additionally, voice instructions might enhance the service to make it more accessible and intelligible for everyone.
The degree of automation might rise dramatically, bringing the entire sector one step closer to the customer expectations for digital standards.