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Increasing consumerism to drive Vending Machine Market in India, finds Netscribes
Netscribes (India) Pvt. Ltd. launches a report on the Vending Machine Market in India 2011 as part of Netscribes’ Manufacturing Industry Series.
The report begins with an introduction to vending machines and its operational model. Vending machines follows a simple mechanism including product selection, payment modes, article dispensing and vending feedback.
This section is followed by the market overview section which begins with an insight into the overall vending machine market in India, growth in annual production and the potential market for vending machines. Only a small fraction of the potential vending machine market in India has been tapped, indicating a huge scope for growth of this market. Vending machine market in India is expected to grow strongly in the near future. The business model for vending machines has also been covered. It further delves into the various types of vending applications and includes details of hot beverages vending machines, box vending machines, snacks and beverages vending machines, coin/ currency vending machines and ticket vending machines. Additionally, sub-segments of vending machines have been included as well as their installed location and future outlook
Exports and imports of this sector have been highlighted, which throws light on the various types of vending products that are traded internationally. This section includes an overview of export-import of such machines, the growth in their total value, the country-wise segmentation and the share of exports-imports across various vending products.
An analysis of the drivers and challenges explains the factors leading to the growth of the market including increasing consumerism, growth in organised retail, growing urbanization and corporate culture, improved technology and new applications and changing lifestyle. Strong opportunity exists in the market as increasing disposable income and higher consumption pattern drive the demand for such machines. This coupled with the fact that organized retail space and urbanization in India is growing will lead to a developing market. Additionally, corporate culture and changing lifestyle of people in India will help to stimulate growth in this market. The key challenges identified are payment mechanism and maintenance, availability of cheap labour and consumer perception. Poor payment gateways and lack of adequate maintenance of vending machines deter the growth of this market. Varying perceptions of consumers regarding the use of vending machines also acts as a major bottleneck.
The competition section provides an overview of the competitive landscape in the industry and includes a detailed profile of the major players in the market. The report concludes with a section on strategic recommendations which comprises of an analysis of the growth strategies of the vending machine market in India.
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