A recently published report by Fact.MR reveals that the global smart wine cellar market is projected to grow at a strong CAGR of 8.5% during the forecast period (2021-2031), slated to touch an impressive valuation of US$ 2.7 Bn by 2031. Incorporation of AI by leading players is expected to provide traction.
Historically, between 2016 and 2020, smart wine cellar demand expanded at a CAGR of 5%, to close in at a valuation of nearly US$ 1 Bn. Prospects declined significantly during the COVID-19 pandemic, especially across commercial settings. Mandatory social distancing measures led to a cessation of outdoor dining, prompting consumers to accumulate wine stocks at home leading to increase in residential grade smart wine cellar sales.
Future market demand will be heavily reliant on the surging popularity of smart homes, with more than 4 out of 5 consumers acknowledging that they are likely to purchase new houses equipped with smart technology. By 2023, it is expected that more than half of all homes in the U.S will be automated. Hence, consumers are likely to purchase more smart gadgets, including smart wine cellars.
For More Insights Into The Market, Request a Sample of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=5802
Key Takeaways from the Market Study
- Smart wine cellars with a capacity of up to 500 bottles to yield over 2/5th of global revenue
- By application, residential smart wine cellars to surge at a CAGR of 7% until 2031
- Online distribution channels to experience fastest growth, at nearly 8% value CAGR
- U.S likely to account for 60% of North American smart wine cellar revenue
- Half of the European smart wine cellar market revenue accounted for by Germany
- China to emerge as the fastest growing Asian market, capturing 58% of overall demand
Key Segments Covered
-
Capacity
- Up to 500 Bottle Smart Wine Cellars
- Up to 1,000 Bottle Smart Wine Cellars
- Up to 1,500 Bottle Smart Wine Cellars
- More than 1,500 Bottle Smart Wine Cellars
-
Application
- Residential Smart Wine Cellars
- Commercial Smart Wine Cellars
- Smart Wine Cellars for Restaurants & Bars
- Smart Wine Cellars for Hotels & Others
-
Distribution Channel
- Online Sales of Smart Wine Cellars
- Offline Sales of Smart Wine Cellars
- Smart Wine Cellars Sold at Specialty Stores
- Smart Wine Cellars Sold at Mega Retail Stores
- Smart Wine Cellars Sold via Other Distribution Channels
Share Your Requirements & Get Customized Reports – https://www.factmr.com/connectus/sample?flag=RC&rep_id=5802
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
Buy now – https://www.factmr.com/checkout/5802
The Smart Wine Cellar Market report addresses the below-mentioned queries:
- Why are vendors shifting away from traditional methods of manufacturing Smart Wine Cellar Market does?
- How the global Smart Wine Cellar Market does looks like in the next five years?
- Which end use industry is expected to surpass segment by the end of 2029?
- What innovative products are being introduced by the players in the global Smart Wine Cellar Market does?
- Which regions are showing the fastest market growth?
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analysed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: [email protected]
Visit Our Website: https://www.factmr.com