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Newer technologies at a lower cost of adoption, such as the large digital touch display, internet connectivity, cameras and various types of sensors, more cost-effective embedded computing power, digital signage, various advanced payment systems, and a wide range of identification technology (NFC, RFID, etc) have contributed to this development.
These smart vending machines enable a more interactive user experience, and reduce operating costs while improving the efficiency of the vending operations through remote manageability and intelligent back-end analytic.
Integrated sensors and cameras also represent a source of such data as customer demographics, purchase trends, and other locality-specific information.
It also enables better customer-engagement for the brands through interactive multimedia and social media connectivity.
Smart vending machines were #79 by JWT Intelligence on its list of 100 Things to Watch in 2014.
According to market research by Frost & Sullivan, global shipments of smart vending machines are forecasted to reach around 2 million units by 2018, and further to 3.6 million units by 2020 with penetration rate of 20.3 percent.
TTCE products can meet the requirement of Vending Machine for payment and card dispensing, for payment, the TTCE-M100 is a motorized card reader for bank credit and debit card, as well as the TTCE-R500 is a mannual insertion card reader and the TTCE-RS180 is a swipe mag-stripe card reader .