Smart Bottle Market to garner USD 120.74 Million with almost 14% CAGR during 2021-2025: Technavio
NEW YORK, March 25, 2021 /PRNewswire/ -- The smart bottle market is expected to post a CAGR of almost 14% during the period 2021-2025, according to the recently published market research report by Technavio. This report offers a detailed analysis of key factors responsible for the current and potential growth of the market. Furthermore, it provides extensive, value-driven data insights pertaining to smart bottle market aiding customers to make informed business decisions.
Prominent Takeaways from this Report
- Growing consumption of bottled water and integration of IoT technology with smart bottles will drive market growth.
- Smart water bottle segment to witness highest application share in the smart bottle market.
- 49% of the market growth will originate from North America with the US holding the largest country share.
- Smart bottle market is concentrated with vendors deploying innovative strategies to continue maintaining and expanding their customer base.
- The market is anticipated to have a positive & superior impact due to the COVID-19 pandemic.
View Technavio's 120-page research report with ToC on "Smart bottle Market by Application (smart water bottle, smart pharmaceutical bottle, smart alcoholic beverage bottle, and smart baby feeding bottle), Geography (North America, Europe, APAC, South America, and MEA) and Vendor Forecasts, 2021 - 2025"
https://www.technavio.com/report/smart bottle-market-industry-analysis
Smart Bottle Market: Driver and Trend Analysis
IoT technologies is being incorporated in various industries to offer customer-friendly and smart products. Smart products are connected to several products for enabling one-to-one communication through IoT technologies. IoT technologies connect the creator of products and consumer to obtain real-time information about the usage. For instance, smart water bottles with measurement use IoT technology for connecting with smart devices equipped with the app to acquire the usage information. This increasing deployment of IoT will drive the smart bottle market growth during the forecast period.
The growing consumption of bottled water is one of the key market trends likely to gain traction in the forthcoming years. Consumers prefer bottled water owing to the improved taste and high-quality. Furthermore, high risk of attracting waterborne diseases and scarcity of tap water in developed and emerging economies will further drive the market growth in the forthcoming years.
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Smart Bottle Market: Segmentation Analysis
This market research report fragments the global smart bottle market by application (smart water bottle, smart pharmaceutical bottle, smart alcoholic beverage bottle, and smart baby feeding bottle), geography (North America, Europe, APAC, South America, and MEA).
The smart water bottle held the largest application share in 2020. The growing acceptance of smart water bottles from health-conscious people is one of the key factors responsible for the growth of this segment. Furthermore, with the growing health and fitness industry, the demand for smart water bottles is also increasing as the inclination of consumers toward sports activities rises. These bottles are equipped with features of updating the consumers about the amount of water consumed in a specific period. Their availability in various shapes, sizes, and colors are another important aspect resulting in the growth of this segment of the market.
In terms of geographical analysis, 49% of the market's growth will originate from North America during the forecast period. The presence of several established smart bottle vendors, particularly, in the US will drive the regional market growth in the forthcoming years.
Smart Bottle Market: Vendor Analysis
The smart bottle market is concentrated. However, several players in the market striving to provide superior products by differentiating them either based on quality or service. Vendors are deploying various organic and inorganic growth strategies to survive market competition. This report classifies key market players as dominant, pure-play and industry-focused players to offer effective investment opportunities and allow clients to make informed decisions. Prominent smart bottle market players include:
- AdhereTech
- Caktus Inc.
- Ecomo Inc.
- Hidrate Inc.
- Pillsy
- Thermos LLC
- TRAGO
- Open-2 LLC
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Smart Bottle Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist smart bottle market growth during the next five years
- Estimation of the smart bottle market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart bottle market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart bottle market vendors
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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