MarkNtel Advisors recently published a detailed industry analysis of the Asia-Pacific Smart Vending Machine Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Asia-Pacific Smart Vending Machine Market (2023-2028)
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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What is driving the Asia-Pacific Smart Vending Machine Market?
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.
What segments define the Asia-Pacific Smart Vending Machine Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
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.))
By Country
(China, Japan, India, South, Korea, South, East Asia Oceania, Rest of Asia-Pacific)
Explore the Complete Asia-Pacific Smart Vending Machine Market Analysis Report – https://www.marknteladvisors.com/research-library/apac-smart-vending-machine-market.html
Who are the leading key players shaping the Asia-Pacific Smart Vending Machine Market landscape?
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
Questions Addressed in this Study
1.What factors are driving the Asia-Pacific Smart Vending Machine Market growth?
2.How is the Asia-Pacific Smart Vending Machine Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Asia-Pacific Smart Vending Machine Market?
4.What is the current size of the Asia-Pacific Smart Vending Machine Market, and how is it projected to change in the future?
6.What is the future outlook for the Asia-Pacific Smart Vending Machine Market in terms of technological advancements and market expansion?
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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.
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