According to the Graphical Research new growth forecast report titled “Asia Pacific Intelligent Vending Machine Market Size, By Product (Beverage, Food, Tobacco), By Application (Retail Sites, Public Transport Hubs, Offices/Institutions), 2019-2025”, estimated to cross USD 10 billion by 2025.
Rising government initiatives toward digital payment techniques will drive the adoption of smart dispensing solutions, thereby positively impacting the Asia Pacific intelligent vending machine market. Countries including China and India are continuously focusing to promote their citizens to shift toward digital payment solutions. The integration of NFC-based payment technology in dispensing equipment is aiding users to conveniently pay for their purchases with the use of mobile wallets such as Apple Pay and Samsung Pay. This had led manufacturers operating in the intelligent vending machine market to launch innovative products. For instance, in May 2019, Xiaomi announced the launch of Mi Express Kiosks in India which accepts all card-based and UPI payments.
The increasing adoption of food dispensing solutions in different application segments including entertainment, schools & colleges, and transportation will accelerate the growth of the Asia Pacific intelligent vending machine market. The manufacturers are offering diversified food vending solutions that dispense different types of beverages including hot & cold products. The hot food vending solution is used to store products such as burgers, hot dogs, pizza, and takoyakis. At Tokyo’s Haneda Airport, the authorities have installed a hot food dispensing unit allowing the passengers to vend hot products. Vending solutions are being used for dispensing products such as ice cream, cake, and pastries.
High investment in the transportation sector for incorporating modern vending solutions will augment the Asia Pacific intelligent vending machine market. Indian Railways is investing highly to modernize its transportation facility and offer a convenient solution for dispensing snack items. In January 2019, IRCTC announced the installation of an automatic pizza vending solution at Mumbai railway station. The machine will provide pizzas based on user specifications at reasonable prices.
Major companies participating in the Asia Pacific intelligent vending machine market are SEAGA Group, Sanden Holdings Corporation, Fuji Electric Co., Ltd., Evoca Group, Crane Merchandising Systems, and Azkoyen Vending Systems. Players in the Asia Pacific intelligent vending machine market are targeting their offerings majorly in the retail & transportation sector due to the high demand for automated technologies in this sector.
Source : graphicalresearch.com