Industry Background:
Wine cellar refers to a storage of wine in bottles, barrels in a room. In a wine cellar, there are important factors such as temperature and humidity and climate control systems to keep the wine in as good condition as possible. In contrast to these; the passive wine cellars do not have climate control and are built underground to reduce fluctuation in temperature. They are generally built to protect alcoholic beverages, to provide darkness to them, and give constant temperature. As with time, wine increases their quality; they increase their value if they are stored for long. Smart wine cellars take this concept to next level with automation. These smart wine cellars may include automation technology, motorized shades, lighting, and even audio. Temperature and humidity can be controlled with the help of smart devices in smart wine cellars. Many systems also include inventory monitors to see the access of bottles. With the increasing demand for wine; the demand for a smart wine cellar is also increasing.This growth is primarily driven by Increasing Demand for Wine Across the Globe and Growing Demand of Smart Wine Cellar to Control the Environment of Storage.
Globally, a noticeable market trend is evident Growing Use of Smart Devices
. Major Vendors, such as Climadiff (France), Dometic Group AB (Sweden), Liebherr-International (Germany), Viking Range, LLC (United States), La Sommeliere (France), LG (South Korea), Haier Inc. (China), Vinotemp (United States), EuroCave (France) and Middleby Corporation (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 1st April 2021, in a press conference at Palo Alto, Eric Emerson Schmidt and Jeff Bezos jointly announced that they will be launching world's first entirely virtual wine brand. The first release of the brand will also be entirely virtual. At the launch of wine; Jeff Bezos announced wines that are entirely calorie-free, stable, and safe for all to imbibe.
Market Drivers
- Increasing Demand for Wine Across the Globe
- Growing Demand of Smart Wine Cellar to Control the Environment of Storage
Market Trend
- Growing Use of Smart Devices
- Increasing Demand of Smart Wine Cellar as An Alternative to Conventional Wine Cellar
Restraints
- High Cost Associated with Smart Wine Cellar
Opportunities
Increasing Demand of Smart Wine Cellar from High-Net-Worth Individuals and Growing Demand of Smart Wine Cellar from Countries with High Per Capita Income
Challenges
Reluctance from Households Due to Space It Takes to Accommodate Wine Cellar
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