In 2018 the global smart wine cellar market recorded sales of approximately 45 thousand units of smart wine cellars, the market garnered a revenue of US$ 1.2 Bn by the end of 2018
Influence of IoT in development of better wine coolers is providing impetus to the global smart wine cooler market
ALBANY, New York, Feb. 20, 2020 /PRNewswire/ -- Developing taste for wine among alcohol enthusiasts across the globe is one of the various factors that propels the growth of global smart wine cellar market during the tenure of 2019 to 2027, says Transparency Market Research. Providing lucrative opportunities to the players the global smart wine cellar market is projected to witness a robust 10% CAGR. Moreover, the market is also predicted to reach to the value of US$ 2.8 Bn by the end of 2027. According to the report the growth of the market is attributed to factors such as influx of smart technologies and growth in the acceptance of wine across the globe.
"Introduction of intelligent technologies into food and beverages industry is the prime factor responsible for the growth of global smart wine cellar market. Moreover, with the progression of 4th industrial revolution, automation has penetrated and disrupted the operations of alcohol and wine making industry. With the adoption of smart technologies, smart wine coolers are revolutionizing the global smart wine cellar market during the tenure of 2019 to 2027." –Transparency Market Research
Key Findings in Global Smart Wine Cellar Market Study
The momentum of the global smart wine cellars market bears an extremely diversified nature. This vastness of the dynamics need better elaboration of the market. The report by Transparency Market Research provides complete analysis of the global smart wine cellars market by classifying the market into various segments. The segmentation of the market in the report helps the players to understand the nature of the market which can further help them have a successful future in the global smart wine cellar market.
Commercial wine cellars are expected to remain the dominant segment in application category of the global smart wine cellar market. The dominance of the segment is the result of growing demand for wine cellars in hotels, restaurants, bars, and pubs.
Maintaining wine bottles can be a daunting task for bars and restaurants owners. However, with a sophisticated wine cellar storage of these wines can be made simple. With growing crunch of space, the demand for wine cellars with the capacity of 500 bottles shall emerge as a prominent type. With the growing demand for such cellars, the 500 bottles wine cellars shall dominate the capacity category of global smart wine cellar market.
Explore the actionable insights from the report on global smart wine cellar market available under the title: Smart Wine Cellar Market (Capacity: Up to 500 Bottles, Up to 1,000 Bottles, Up to 1,500 Bottles, More than 1,500 Bottles; Application: Residential, Commercial (Restaurants/Bars & Hotels)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/smart-wine-cellar-market.html
Major Drivers Mentioned Global Smart Wine Cellar Market
The report offers various actionable insights about the drivers that are supporting the progression of global smart wine cellar market. With these insights, the players can derive strategies to grab lucrative opportunities provided by the market. Moreover, these insights can also help the players to accelerate with robust pace and stay ahead of the curve in the competitive scenario of global smart wine cellar market during the tenure of 2019 to 2027. Some of the major drivers of the global smart wine cellar market are:
Pacing growth of IT and data oriented technologies has made communication with machine easy. The wines tastes better when served chilled. This demand for ice cold wines by wine enthusiasts have stimulated the developers to produce smart wine cellars and coolers. This as a result is expected to propel the growth of global smart wine cellar market.
During manufacture, optimal temperature for wine is a key requirement of wine manufacturers. Temperature control is the prime requirement for wine producers to maintain the perfect and similar taste in every bottle of wine. This has urged the demand for an innovative and intelligent wine cooler. These demand are expected to propel the growth of global smart wine cooler market from 2019 to 2027.
People are getting highly health cautious and skipping alcoholic products such as beer and whiskey. However, wine has numerous health benefits and is being highly accepted by the alcohol lovers. This has stimulated the wine drinkers to have a storage of their own at their residence. Looking at the demand for storing wines at home, the global smart wine cellars market is expected to witness a substantial growth between 2019 and 2027.
Global Smart Wine Cellar Market: Regional Analysis
Europe is expected to emerge as the largest region in global smart wine cellar market. The dominance of the market is attributed to the growth of technology adoption to automate the business process. Moreover, the region is also the founding ground of Industry 4.0 which enables every machine or device with automation. Nevertheless, the growth in the production and consumption of wine in countries like Italy, Germany, and the U.K. shall help Europe to have a strong presence in the global smart wine cellar market.
On the other hand, North America is expected to come up as the fastest growing region in smart wine cooler market. This is because of the hike acceptance and consumption of wine in countries like U.S. and Canada.
Analyze smart wine cellars market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Though competitive, the global smart wine cellar market is highly consolidated. This is because the dynamics of the market is majorly dominated by a handful of players. However, the competitive nature of the market poses a strong challenge for the new players that are willing to enter the global smart wine cellar market.
Therefore, the new players are adopting several strategies that can help them overcome these challenges and support them for a sustainable future in the global smart wine cellar market. These players are focusing on strategies such as mergers, partnerships, and collaboration.
Wine Cooler and Chest Freezer Market– The India wine cooler and chest freezers market will likely expand at a 4.9% CAGR from 2017 to 2025 to reach a value of US$ 197.8 mn by 2025 from US$ 127.5 Mn in 2016.
Smart Water Cooler Market – The global market is driven by various factors such as quick and easy availability of cold water at any time of the day and due to the rising temperature, which increase the demand for cold water. Other factors driving the market include awareness of timely consumption of water for a better immune system and desire for clear skin.
Wine Cellar Market – Due to changing lifestyle and rising income level, drinking wine is being considered as a way of attaining high social status. This is expected to augment the demand for wines across the globe.
Commercial Refrigerators Market – The commercial refrigerators market in Asia Pacific to surge at a 9.8% CAGR between 2016 and 2024. Around this time, technologies such as magnetocaloric refrigeration, which offer 20% to 30% reduced energy consumption, will witness wider commercialization.
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About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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