September 03, 2020
According to the research report titled ‘Smart Home-Based Beverage Machine Market Size By Product, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global smart home-based beverage machine market is expected to generate significant revenues during the period 2020-2026.
Rising adoption of advanced technologies along with innovative product launches are major factors driving the growth of smart home-based beverage machine industry. Inclination towards using digital applications owing to their automated and connected processes is also fueling the market size.
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Various food & beverage manufacturers are focusing on adopting Industry 4.0 and IoT solutions in order to improve efficiency and reduce costs. Additionally, growing demand for robotics, artificial intelligence, and other advanced technologies is favoring the market outlook.
In fact, market majors are developing coffee making and smart espresso machines which use automated IoT technologies and can operate using smart home ecosystems such as Google Home or Alexa. Moreover, these beverage machines can also be turned on or off using a smartphone app, thereby stimulating the industry remuneration.
Elaborating on the product landscape, the market is segmented into smart juice machine, smart espresso machine, smart water machine, and smart soda machine. The report states that the smart water machine segment is predicted to expand with a CAGR of 6% between 2020 and 2026, primarily due to increased pervasiveness of water-borne diseases and burgeoning health concerns.
Considering the geographical landscape, smart home-based beverage machine industry in Latin America is expected to record remunerative growth during the analysis timeframe. Increasing disposable income and consumer preferences towards using advanced technologies are swaying the business dynamics in LATAM.
Hurom Co., Ltd, Smart Soda Holdings, Inc., Nestlé Nespresso SA, Mittemitte GmbH, Luigi Lavazza S.p.A., NUC Electronics Co., Ltd., Koninklijke Philips N.V., Keurig Dr Pepper, Jura Elektroapparate AG, Illycaffè S.p.A., De'Longhi S.p.A., Coway Co., Ltd., BSH Hausgeräte GmbH, Breville Group Ltd, Hydration Labs, Inc., and Behmor, Inc. are the key companies operating in global smart home-based beverage machine industry.