Asia-Pacific Smart Vending Machine Market Insights: Anticipates 17.3% CAGR and Forecast Market Trends 2028

Asia-Pacific Smart Vending Machine Market Size, Share, Analysis, Trends Future Forecast 2028

MarkNtel Advisors has recently released an all-encompassing report on Asia-Pacific Smart Vending Machine Market. The report thoroughly explores the present and future market scenarios, providing valuable insights into market size, share, and competitor segmentation. It also delivers an overview of manufacturers, regions, product categories, and application areas. This extensive research is designed to empower clients with the knowledge required to comprehend and capitalize on market trends for their business strategies.

Forecast 2028: Revealing Asia-Pacific Smart Vending Machine Market Insights and Analysis

The Asia-Pacific Smart Vending Machine Market is projected to grow at a CAGR of around 17.3% during the forecast period, i.e., 2023-28.

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Key Driver: Surge in Digital Payments to Enhance the Requirement for Smart Vending Machines

In Asia-Pacific, the adoption of digital payment methods is raising at a high pace, owing to which the consumers are getting inclined towards machines that dispense products accepts cashless payments. As per Mastercard’s New Payments Index 2022, almost 88% of the consumers in the region have used digital payment methods, such as digital wallets, QR codes, etc., during 2021. In addition, in countries like Vietnam, the total transaction value of e-payments reached approximately USD15 million in 2021. This has created a large consumer base that is substantially relied on digital payments for day-to-day transactions, and owing to this market has proliferated during the historical period by the installation of these machines in high-traffic areas such as transport hubs, shopping complexes, corporate offices to cater the preferences of digitally savvy consumers. Moreover, the countries like Vietnam, Thailand, India, etc., are implementing various initiatives to digitalize the economy. For instance,

In 2021, the Vietnamese government launched a scheme for Cashless Payment Promotion in Vietnam for the tenure 2021-2025.

These initiatives promote the growth of digital payments in APAC leveraging these digital payment prospects could offer seamless operational efficiency, attracting more consumers to buy products via these machines. Therefore, the regional market is predicted to showcase a considerable growth rate during the forthcoming period.

A Comprehensive Overview of Geographical Diversity:

the Asia-Pacific Smart Vending Machine Market expands across:

China
Japan
India
South Korea
South East Asia
Oceania
Rest of Asia-Pacific

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Asia-Pacific Smart Vending Machine Market Segmentation Outline:

By Product Type (Beverage, Snacks, Chocolate and Candies, Tobacco, Others (Sanitary Pads, Tickets, Cigarettes, etc.))
By End-User (Shopping Malls, Retail Stores, Offices Institutions, Public Transport, Others (Stadiums, Attractions, Hospitals, etc.))

Competitive Outlook

Fuji Electric Co., Ltd. Asahi Group Holdings, Ltd., Provending Machine CO., LTD Azkoyen SA Compass Group Plc Crane Co. EVOCA Spa Silkron Technology Sdn Bhd Glory VM Honeywell International, Inc. Aramark Corporation Daalchini Others

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About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.

Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals.

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We understand the mounting diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfil their assessment of the current future industry potential, identify white spaces hotspots, venture into new geographies or business segments in the future.