Growth Of Vending Services in Next Few Decades We are very familiar with vending machines; they are very much part of our daily lives. Unlike earlier days now even specialized vending machines are available which provide not so common products as well. Although when we hear the word vending machine first thing that comes to our mind is tea and coffee but gone are those days when vending machines were confined to these items, now we have all sorts of vending machines from food, cigarettes, beverages, snacks, stamps and whatnot. Even specialized vending machines are very popular and in use these days like pizza, French fry, marijuana, life insurance etc. so obviously as we know vending machines today cater for a variety of products. The earliest vending machine known to us was developed in Egypt by a mathematician who dispensed holy water when the coin was inserted, although the first modern vending came to use in London which dispensed postcards.
Vending machines are so popular that these days no matter where you go whether it is a mall, railway station, shop etc. you will find a vending machine. Almost each and every office has a coffee and water vending machine.
With such wide use of vending machines this industry has grown at a very fast rate in the last decade. As the trend suggests every small shop owner wants to have a coffee or water vending machine at his shop. If a report is to be believed then it is estimated that the global vending machine market which is valued at around 19 billion dollars is going to be 28 billion dollars by 2027. Although these projections are different in different reports one thing which is common in all such reports is that they all see splendid growth in this industry. With around 15 million vending machines currently in operation, these projections don’t seem to be exaggerated at all. What is driving this growth in this market, well the answer is not that hard. it is the demand for the vending machine in offices and all institutions which is the main driving force behind this growth. Also, there are some other factors as well.
Last year when I was in Cranbury new jersey where I was helping my friend set up an office, looking for a water and cold drink vending machine the moment I typed Water Vending Service Cranbury New Jersey, I was amazed to see the number of players only in Cranbury itself. This rise in the number of players in this industry has also led to growth in this industry. Also, while roaming there, I was amazed to see a number of cold drinks vending machines in Cranbury new jersey, it was really a surprise for me. It's not about water vending service Cranbury new jersey or cold drink vending machine Cranbury new jersey, it's all the same in the entire globe and it's not limited to water, cold drink or tea and coffee. Apart from demand in institutions and offices, other reasons for such growth are the rise in consumption of convenience food items and the adoption of smart customer service technologies.
also, the introduction of cashless payment systems, smart technology solutions has resulted in higher demand for vending machines.
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