Smart Water Bottle Market Scope
The increasing disposable incomes across the globe have raised the demand for highly innovative and leisure products although, these products are comparatively expensive than the conventional products. Smart bottle refers to technologically advanced bottles integrated with wireless communication technology and are able to connect with electronic devices such as wearables and smartphone. It helps in keeping track of the amount of a water person is drinking. Smart bottle market has high growth prospects owing to changing lifestyle standard and growing inclination towards technologically advanced products. Further, growing technological advancement such as the incorporation of the internet of things (IoT) and artificial intelligence (AI) in the smart bottle expected to drive the demand for the smart bottle over the forecasted period.
The market study is being classified by Type (Metal and Polymer), by Application (Food & Beverages, Pharmaceutical, Sports and Other) and major geographies with country level break-up. According to AMA, the Global Smart Water Bottle market is expected to see growth rate of 23.7% and may see market size of USD25.05 Million by 2024.
The Vendors having a strong hold in the market are Kuvee, Hidrate, Trago Mills, Courtney Sippo, and Ecomo. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Smart Water Bottle market throughout the predicted period.
Kuvee Inc. (United Kingdom), Hidrate Inc. (United States), Trago Mills (United Kingdom), Courtney Sippo (United States), Ecomo Inc. (United States), Hydrasmart (United States), Caktus, Inc. (United States), Ecomo (Uk) Limited (United Kingdom), Ozmo, Inc. (United States) and HydraCoach, Inc. (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Shenzhen Moikit Network Technology Co. Ltd. (China), OPEN-2, LLC (United States), Out of Galaxy, Inc. (United States) and Thermos L.L.C. (United States).
AdvanceMarketAnalytics has segmented the market of Global Smart Water Bottle market by Type, Application and Region.
On the basis of geography, the market of Smart Water Bottle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Smart Water Bottle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Inbuilt smart water bottle will boost the Smart Water Bottle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. In-built will boost the Smart Water Bottle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On November 2018, a global leader in beverage technology, " Omniaz" has launched Asia’s first smart bottle experience for alcohol beverage with the launch of the DRNK (Drink, Rewards, Network, Knowledge) mobile application in partnership with Wine Connection company in Singapore which is engaged in offering affordable, high quality and exclusive wines.
- Recent Technological Advancements such as Introduction to Water Bottle Trackers
- Increasing Adoption of Hydration Tracking Applications
- Growing Adoption of Smart Household Appliances and Consumer Goods
- Upsurging Sales and Increasing Awareness due to Online Sales Channels
- Upsurging Disposable Incomes across the Globe
- Continuously Changing Life Styles leading to Increased Demand
- Comparatively Expensive than the Conventional Bottles
- Lack of Awareness from the Underdeveloped Regions
- Manufacturing Complexities and Increasing Raw Material Prices
- Availability of Numerous Substitutes
Key Target AudienceSmart Water Bottle Manufacturers, Smart Water Bottle Distributors and Traders, Smart Consumer Good Developers, Research and Development Institutes, Financial Institutes and Venture Capitalists, Upstream and Downstream Buyers and Others
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