Dublin, May 25, 2021 (GLOBE NEWSWIRE) -- The "India Vending Machine Market (2020-2026): Market Forecast by Product Type, by End Users, by Regions, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
India Vending Machine Market is expected to witness substantial growth of 14.9% CAGR during 2020-2026.
The India vending machine market is expected to witness robust growth over the coming years on account of the growing retail industry and rapid urbanization.
The Indian retail markets have transformed from traditional shops towards new organized retail formats and the emergence of shopping malls, supermarkets, hypermarkets, and convenience stores. Vending machines were first introduced in India in the government transportation and hospitality sector to provide convenience to consumers to procure essential products even during closed hours.
Currently, vending machines are mainly used in India's retail sector. The majority of the vending machines operating in the country are being installed at airports, educational institutions, railway stations, offices, hospitals, petrol stations, malls, supermarkets, and hypermarkets. Moreover, demand for vending machines was decreased during 2020, on account of COVID-19 pandemic lockdowns and low public footfall in commercial and transportation complexes post lockdowns in the market.
Rising population, growing digitization, mobile-based cashless payment options increasing investment in the retail sector, raising awareness, and increasing consumers' purchasing power are key growth drivers of India's vending machine market. Additionally, the demand for vending machines will be primarily driven by the growth of organized retailing across malls and multiplexes, BPOs, IT, and ITES sectors in India during the forecast period.
However, the vending machine's growth in India is anticipated to slow down during the first half of 2020-2021 due to the outbreak of the Covid-19 pandemic. The market is expected to recover at the beginning of 2021 in some regions in India. In other regions of India, the market is likely to recover gradually over the next few years.
Additionally, growing investment in public infrastructure and the organized retail sector's development would further drive the demand for India's vending machine market over the coming years. Additionally, the pharmacy outlets are also recording significant growth in revenues due to the spread of the Covid-19 pandemic, which has resulted in increased usage of vending machines across hospitals and other healthcare centers.
Key Highlights of the Report
Historical Data and Forecast of India Vending Machine Market Revenues for the Period 2016-2026.
Historical Market Data and Forecast of Revenues, by Product Type for the Period 2016-2026.
Historical Market Data and Forecast of Revenues, by End-users for the Period 2016-2026.
Market Drivers and Restraints
India Vending Machine Market Trends
Industry Life Cycle
Porter's Five Force Analysis
Market Opportunity Assessment
India Vending Machine Market Share, By Companies
Key Strategic Recommendations
The report provides a detailed analysis of the following market segments:
By Product Type
Chocolates and Candies
By End Users
Offices and Institutions
American Vending Machines
Automated Merchandising Systems
Azkoyen Vending Systems
Bulk Vending Systems
Crane Merchandising Systems Inc
Fuji Electric Co. Ltd.
Sanden Holdings Corporation
For more information about this report visit https://www.researchandmarkets.com/r/jgppn1
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