500 Bottle Capacity Smart Wine Cellars to Gain Immense Popularity Over Coming Years: Fact.MR
Published : 29 Apr 2021 Industry: Consumer Goods
Sales of smart wine cellars are gaining momentum with increase in application in diverse residential and commercial sectors. With the incorporation of Artificial Intelligence (AI) by leading players, the industry is expected to surge ahead over the coming years. Demand for smart wine cellars with a capacity of 500 bottles will remain high over the coming years.
The latest report on smart wine cellars by Fact.MR provides a thorough analysis of the global industry, its demand-supply trajectories, and crucial factors. According to the report, North America, Europe, and Asia Pacific will hold major chunk of the global market, while 20+ countries will exhibit high potential during the forecast period.
As per Fact.MR analysis, the global smart wine cellar market will expand at around 8.5% CAGR through 2031.
Key Takeaways from Market Study
- High demand for smart wine cellars with capacity of up to 500 bottles likely to be witnessed.
- Growing application in commercial sector to boost sales.
- Advancements in online distribution channels to propel industry growth.
- The United States to remain a leading market for smart wine cellars.
- Germany to lead in Europe’s smart cellar industry.
- The market in Asia Pacific to exhibit the fastest growth throughout the forecast period.
- China, Japan, India, South Korea, and Canada to maintain positive industry outlook.
“With key manufacturers bringing in a wide variety of compressor wine cellars and thermometric wine cellars, the global industry is subject to expand significantly in the near future. Furthermore, rise in inclination towards automation is expected to raise the revenue of key market players,”
says a Fact.MR analyst.
Commercial Sector to Account for Heightened Sales of Smart Wine Cellars
Smart wine cellars have extensive application in commercial sectors such as restaurants, bars, hotels, and others, owing to their various advantages, such as-
- Maintain the proper level of humidity
- Provide double cooling effect
- Prevents condensation
With demand from these sectors rising steadily, key players are expected to come across lucrative growth scope over the coming years.
According to a report published by SelectUSA, the travel, tourism, and hospitality industry is one of the highly potential industries in the world. Despite suffering due to the COVID-19 pandemic, the industry is expected to grow further in the future. As stated in the report, the U.S. hospitality industry generated over US$ 1.6 trillion economic output in 2017, supporting 7.8 million U.S. jobs, while the industry is expected to represent more than 3% of the U.S. Gross Domestic Product (GDP) by 2025. This gives a glimpse of the new opportunities awaiting manufacturers of smart wine cellars, not only in the U.S. but across the world.
Who is Winning in this Space?
The global smart wine cellar market is highly competitive. In order to capitalize on the new opportunities, key players are focusing on quality while launching diverse categories of products.
- EuroCave SAS recently launched its new range of Built-In Wine Cabinets, Wine Cellar Layout, and others.
- Cellar Solutions Inc. launched its new range of TRANSTHERM®- State of the Art Wine Cellars, Wine Preservation Solutions, and others, a couple of years back.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the smart wine cellar market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of capacity (up to 500 bottles, up to 1,000 bottles, up to 1,500 bottles, and more than 1,500 bottles), application (residential and commercial [restaurants & bars, and hotels & others]), and distribution channel (online and offline [specialty stores, mega retail stores, and others]), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About the Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Consumer Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Consumer Goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Retail & Consumer Goods