Smart Home Based Beverage Machine Market

Market Insights

The Smart home-based beverage machine market is projected to grow from USD 1.65 Billion in 2021 to USD 2.37 Billion by 2028 at a CAGR of over 5.24% during the forecast period.

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What is Smart home-based beverage machines?

Smart home-based beverage machines are integrated with advanced technologies, such as Wi-Fi or Bluetooth, which allows consumers to operate the device remotely. They also have advanced sensors, switches, and LED touch displays. Further, to enhance user’s convenience, AI and Lot technologies are used to provide personalized features.

Market Drivers

The prime factor that is contributing to the demand for smart home-based beverage machines is mainly the increasing investment by consumers for developing modular kitchens, which are increasing the adoption of advanced home appliances.

Key Players

Some of the major smart home-based beverage machine suppliers are-

• Behmor, Inc.
• Bevi
• Breville Group Ltd.
• BSH Hausgerate GmbH
• Coway Co., Ltd.
• De’Longhi S.p.A.
• Jura Elektroapparate AG

Segment Analysis

By Product Type

The market is segmented as smart soda machine, smart water machine, smart espresso machine, and smart juice machine. Smart espresso machines held the major share of the market in 2021, and are likely to lead the market. The rising demand for smart coffee machines, owing to increase in coffee consumption across the globe, is driving the growth of this segment. Further, smart coffee machines are compatible with voice assistant systems such as Google Home, Alexa, and Siri, which allows consumers to give command to the machines. They also possess various properties such as easy maintenance, low operating cost, and availability of a variety of coffee flavors and types.

By Region

Europe is estimated to be the fastest-growing smart home-based beverage machine market during the forecast period, with Germany, France, Spain, and the UK being the major countries with lucrative growth opportunities in the coming years. The growth of the market is driven by the increasing demand for fresh juices, owing to rising awareness on health benefits among consumers, and the increasing demand for low-sugar and organic fruit juices, influencing the adoption of smart juicers. North America and Asia-Pacific are also expected to offer considerable growth opportunities during the forecast period.

Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The smart home-based beverage machine market is segmented into the following categories. 

By Product Type:

• Smart Soda Machine
• Smart Water Machine
• Smart Espresso Machine
• Smart Juice Machine

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by region.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.