Smart Home-Based Beverage Machine Market Size, Growth, Share, Demand Analysis 2024-2032

Smart Home-Based Beverage Machine Market Insights

According to the report published by Zion Market Research, the global Smart Home-Based Beverage Machine Market size was valued at USD 1879.46 Million in 2023 and is predicted to reach USD 3121.8 Million by the end of 2032. The market is expected to grow with a CAGR of 5.8% during the forecast period. The report analyzes the global Smart Home-Based Beverage Machine Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Smart Home-Based Beverage Machine industry.

Request Free Sample

Global Smart Home-Based Beverage Machine Market: Overview

A beverage is a liquid that is meant for human consumption to satisfy thirst and sometimes for pleasure. Some of the non-alcoholic beverages include tea, coffee, plain water, soft drink, juices, and milk. With the lifestyle change, different people with different tastes prefer beverages and more likely to enjoy them at home. In such cases, a smart home-based beverage machine offers the consumer to enjoy their beverages of interest at home.

Global Smart Home-Based Beverage Machine Market: Growth Factors

The rise in the number of smart homes, growing demand for smart home-based beverage machines from the millennials, and increase in disposable income are some of the major factors that are primarily boosting the growth of the global smart home-based beverage machine market. The smart home-based beverage machine is incorporated with Wi-Fi or Bluetooth. This enables the user to operate the machine remotely. In addition to this, to enhance the convenience of the user and provide personalized features, the smart home-based beverage machines are also integrated with IoT and artificial intelligence-based technologies.

In addition to this, most of the population is inclined towards self-care and is highly concerned regarding health and wellness. This has led to the rise in consumption of fresh juices whereas on the other side some people are habituated to tea and coffee. Owing to all these factors there is a rise in the demand for smart home-based beverage machines there by contributing to the growth of the global market. Moreover, the growing demand for smart home appliances, easy availability of products on online platforms, and concerns regarding energy consumption are also some of the key features that are propelling the growth of the market.

Furthermore, technological advancement for regular up-gradation of the machine may drive the growth of the global smart home-based beverage machine market during the forecast period. However, the high cost of the smart home-based beverage machine will restrain the growth of the global smart home-based beverage machine market in the low and middle-income countries.

The Covid-19 pandemic has led to a global economic crisis as it has severely hit the manufacturing units of most of the industries. Like many other manufacturers, the manufacturers of the smart home-based beverage machine also faced several challenges due to lack of raw material as the supply chain was been disrupted due to lockdown and restriction on movement. In addition to this, the outbreak also resulted in a change in customer behavior and thus a decline in expenditure was been observed during the pandemic. Thus, the growth of the global smart home-based beverage machine market was adversely affected by the Covid-19 pandemic.

Request Free Sample

Global Smart Home-Based Beverage Machine Market: Segmentation

The global smart home-based beverage machine market is segregated based on distribution channel, product, and region. Based on the distribution channel, the global smart home-based beverage machine market is split into offline and online. Based on the product, the global market is divided into the smart soda machine, smart juice machine, smart espresso machine, and smart water machine. Among these, the smart espresso machine is expected to dominate the segment and contribute to a significant share of the market over the forecast period.

Smart Home-Based Beverage Machine Market: Report Scope

Global Smart Home-Based Beverage Machine Market: Regional Analysis

North America is anticipated to hold the maximum share in the global smart home-based beverage machine market in terms of revenue during the forecast period. This is attributable to the rise in demand for the smart home-based beverage machine, the growing trend of smart homes, and the presence of key market players. Furthermore, Europe is also expected to contribute a significant share in the market over the forecast period. On the other side, the smart home-based beverage machine market in Asia Pacific is expected to register the highest CAGR over the forecast period. Factors expected to contribute rapid growth of the market in his region include growing disposable income, growing demand for smart home appliances, smart home initiatives, and increasing buying power.

Global Smart Home-Based Beverage Machine Market: Competitive Players

The prominent players operating in the global smart home-based beverage machine market are:

• Hurom Co., Ltd.
• Coway Co.
• Smart Soda Holdings, Inc.
• Lavazza
• Kuvings
• BSH Hausgerate GmbH
• De’Longhi S.p.A.
• Bevi, Ltd.
• Behmor, Inc
• Breville Group Ltd.

The Global Smart Home-Based Beverage Machine Market is segmented as follows:

By distribution channel 

• offline
• online

By product 

• smart soda machine
• smart juice machine
• smart espresso machine
• smart water machine

Global Smart Home-Based Beverage Machine Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.