NEW YORK, May 6, 2021 /PRNewswire/ -- Fact.MR's recent research study projects a positive growth outlook for global smart wine cellar market between 2021 and 2031. Increasing application in commercial sector such as restaurants, bars and others are boosting the sales of smart wine cellars.
Over the past few years, integration of advanced technologies such as Artificial Intelligence (AI) and the Internet of Thinking (IoT) has brought made possible various innovations in wine cellars. These developments have led to the advent of smart and AI-based robotic wine cellars.
Advancements in manufacturing infrastructure and incorporation of cutting-edge technologies, across countries such as the U.S., India, Germany, and China, are providing growth opportunities for smart wine cellar manufacturers.
According to Fact.MR, innovations in commercial sector and manufacturing infrastructure have improved the demand for smart wine cellars. In the U.S. seamless designs and Wi-Fi enabled wine cellars are gaining popularity in restaurants and bars across states such as California and Los-Angeles.
According to the 'State of the Wine Industry Report of United States', in 2020, United States reported the increase of 43% of wine production in the states such as California, Oregon, Washington, Texas and many more. Thereby, making the U.S. a hotspot for smart wine cellar manufacturers. As per Fact.MR analysis, it is expected to be the most lucrative market for smart wine cellars backed by high demand from the commercial sector through 2031.
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As per the study, the global smart wine cellar market is projected to ascend at a CAGR of 8.5% through 2031.
"Advanced technology and incorporation of AI and IoT has augmented the smart wine cellar sales within the commercial sector, providing wide growth opportunities for key players," says a Fact.MR analyst.
In terms of capacity, 500 bottle capacity wine cellar will witness a hike over the forecast period
Application in commercial sector across countries such as United States, Germany, and UK to boost the smart wine cellar sales
Rapidly growing infrastructure and advanced commercial sector to deliver rewarding returns for smart wine cellar manufacturers across United States
China is estimated to be the world's fastest-growing smart wine cellar market
Germany is anticipated to lead the European smart wine cellar market backed by the high demand for smart wine cellars from commercial sector
India is likely to exhibit hegemony throughout the forecast period across South Asia
Kitchen Aid-Whirlpool Corporation, Electrolux AB, Haier Inc., Liebherr-International AG, Dometic Group, BSH Home Appliances Corporation, Middleby Corporation, EuroCave SAS, La Sommeliere, and Cellar Solutions Inc., are some of the prominent manufacturers listed by Fact.MR operating in smart wine cellar market. New product launches, strategic mergers and acquisitions, and capacity expansion are some of the important growth strategies adopted by some of the aforementioned players.
For instance, in March 2021, Dacor announced the debut of 24" wine cellar for residential purposes that holds up to at least 100 wine bottles easily in three independent cool zones.
Also, in September 2019, Posera, a leading provider of software solutions for the hospitality industry announced a strategic collaboration with Intelligent Cellars, producer of the Alfred Procellar management smart technologies to provide hospitality merchants with comprehensive cellar management technology with Maitre'D point of sale system.
In 2018, another tech giant, LG announced the launch of a new voice-controlled smart wine cellar among its new line-up of appliances, which could also hold up to 65 bottles supporting the voice recognition for opening the door and turning on interior light.
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More Valuable Insights on Smart wine cellar market
In its latest study, Fact.MR provides an exhaustive analysis on global smart wine cellar market for the upcoming decade. The study divulges essential insights on smart wine cellar market on the basis of capacity (up to 500 bottles, up to 1000 bottles, up to 1500 bottles, and more than 1500 bottles), application (residential, restaurant & bar, hotel and others), distribution channel (online, specialty stores, mega retail stores and others), and region (North America, Latin America, East Asia, South Asia, Europe, Oceania and Middle East & Africa).
Key Questions Covered in the Report
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