March 03, 2020
According to a recent study titled ‘Asia Pacific Intelligent Vending Machine Market Size By Product, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, Asia Pacific intelligent vending machine market is anticipated to surpass US $10 billion by the year 2025.
Increasing government initiatives towards the promotion of digital payment solutions is driving the growth of Asia Pacific intelligent vending machine market. Surging adoption of digital payment solutions coupled with rising integration of NFC based payment technology in dispensing equipment has enabled consumers to easily carry out transactions using mobile wallets such as Apple pay and Samsung pay. Shifting focus of manufacturers to develop innovative vending machine such as advanced kiosks which accept both card-based and UPI payments, coupled with increasing adoption of food dispensing solutions across various sectors such as entertainment, schools & colleges, and transportation are augmenting the intelligent vending machine market in Asia Pacific.
As per the report, food dispenser segment of Asia Pacific intelligent vending machine market is anticipated to see decent growth over the forecast period owing to constant emphasis of manufacturers to provide diversified food vending solutions capable of dispensing varied food products, including hot and cold products. Moreover, hot food vending machines are used to store burgers, hot dogs, pizza, and takoyakis, while cold machine variants are capable of dispensing products such as ice cream, cake, and pastries.
Elaborating on the application spectrum, transportation segment is expected to grow substantially over the forecast timeline, owing to inflowing investments in transportation sector for incorporating modern vending solutions.
Considering the regional outlook, Asia Pacific intelligent vending machine is divided into India, China, Japan, South Korea, Singapore, and Australia. According to the study, India intelligent vending machine market is expected to see modest growth in the forthcoming years. The regional growth can be affixed to increasing modernization of the railway industry with a focus on providing convenient food dispensing solutions.
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SEAGA Group, Evoca Group, Fuji Electric Co., Ltd., Crane Merchandising Systems, Azkoyen Vending Systems, and Sanden Holdings Corp. are the major players operating in Asia Pacific intelligent vending machine market. The manufacturers are targeting the retail and transportation sectors to fulfill the demand for automated technologies, thereby improving their renumeration.
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