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Innovative Technologies and Demand for Vending Machine Market in India
Bharatbook.com included a new report on "Vending Machine Market in India 2012" which gives in-depth analysis and forecast on the Indian Vending Machine Market.
The report provides detailed information about the exports and imports of vending machines under specific HS code in terms of value and volume. It provides country-wise export-import data along with share of export-import across various vending products for the year 2011-12. http://www.bharatbook.com/
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, along with growth in annual installations of vending machines across major segments and the potential market for vending machines. Hot beverage vending machine segment accounts for the largest share of the market. Only a small fraction of the potential vending machine market in India has been tapped, indicating a huge scope for growth.
Vending machine market in India is still at a nascent stage and is expected to witness dynamic growth in the near future. The market will be boosted by the increasing consumerism coupled with changing lifestyle, resulting in increased demand for vending machines.
Factors driving the growth of vending machine market in India (http://www.bharatbook.com) are also explained in detail. Increasing consumerism coupled with growing organized retail stimulates the demand for more vending machines across the country. India is one of the most lucrative consumer markets in the world with about one sixth of the global population. FMCG sector is one the major factors influencing the growth of the vending machine market. Growing urbanization and corporate culture provides opportunity for vending machine installations. Improved technology and new applications has facilitated the market to grow further. Changing needs and preferences arising from a modified lifestyle enables the players to increase their domestic customer base.
The players operating in the market also face challenges which are hampering their development and growth. Availability of cheap labour coupled with poor payment mechanisms act as major impediments for this market. Consumer perception towards using vending machines poses a hindrance for the market. General perception of consumers of buying goods directly from shops discourage them from using vending machines as they are not sure of the quality of the products.
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