Perhaps the most significant opportunity within the Internet of Things (IoT) is to take isolated systems and plug them into the IoT. Just ask vending machine marketers. Many of them are slowly establishing footprints in various markets around the world including Asia, the Middle East, Africa, Europe, North America and South America. The latest player to emerge is iDrink and their Smart IoT Vending Machine. The company is getting an injection of support from SUIC, Sino United Worldwide Consolidated Ltd. (OTC: SUIC), the New York based fintech firm, who have signed a Share Exchange Agreement to acquire 20% of iDrink Technology Company Limited. [SUIC signed a Share Exchange Agreement to acquire 20% of iDrink Technology Company Limited.] This comes at a perfect time for iDrink who is looking aggressively for international distribution and needs a partner who has the track record to develop that distribution quickly. About iDrink Technology Co. Ltd. iDrink designed the iDrink Smart Vending Machine for the beverage industry, a multi trillion dollar market. Using cloud platform services, iDrink consolidates consumption data from beverage manufacturers and consumers alike, and uploads the data to its blockchain-enabled iDrink Smart Vending Machines. Their machines are both beverage vending machines and cryptocurrency mining machines, as well as O2O (online to offline) digital currency ATM terminals. They are extremely versatile, managing real-time inventory information, tracking fleets of beverage suppliers, collecting and offering data about its consumers’ habits and spending through seamless cryptocurrency payment systems, using business intelligence and analytics solutions with the IoT, Bluetooth and RFID tags. iDrink is also constructing an O2O ecosystem by making available the iDrink tokens and coins to users worldwide, connecting its blockchain technology with the IoT through Bluetooth on smartphones and other devices. [iDrink Smart Vending Machine is the world’s first ever beverage E-commerce and social exchange platform and smart IoT vending machine of its kind!] Of course, SUIC’s plans to build iDrink’s distribution are based on compelling market conditions.
- The beer market is forecasted to reach USD805 billion by 2024and hit the trillion dollar mark, registering a CAGR of 5.5% during the forecast period (2019 – 2024) in its largest market in the Asia Pacific region, which is home to 60 per cent of the world’s population, some 4.3 billion people.
- Millennials comprise 25% of the total workforce population, driving the global beer market.
- The global beverage market overall has promising opportunities (for alcoholic and non-alcoholic beverages), and is expected to reach an estimated of $2 trillion by 2021, growing at a CAGR of 3.0% to 2021, pushed by growing urbanization and improving disposable income.
- SUIC and iDrink expect a steady annual revenue stream from the sale of one million units of iDrink Smart IoT Vending Machine worldwide.