Smart Wine Cellar Market To Reach A Value Of ~US$ 2.8 Billion By 2027

According to a new market report pertaining to the global smart wine cellar market published by Transparency Market Research the global smart wine cellar market is projected to reach a value of US$ 2.8 Bn by 2027 from ~US$ 1.3 Bn in 2019, expanding at a CAGR of ~10% from 2019 to 2027. Growth of the smart wine cellar market can be attributed to the high demand from commercial applications. Europe is anticipated to lead the global smart wine cellar market, followed by North America, during the forecast period.

Rapid Advancements in IT Infrastructure & Adoption of Wireless Communication Accelerating Market Growth

Rapid advancements in information technology infrastructure and the adoption of wireless communications are major factors augmenting the growth of the smart wine cellar market. Wireless communication such as Wi-Fi plays a significant role in monitoring and analyzing wine cellars from remote locations through smartphones, tablets, and laptops. Wi-Fi technology is broadly utilized in residential and commercial establishments as a substitute to wired LAN. Wi-Fi is an effective technology to control many home & commercial smart appliances from remote locations. Thus, rapid advancements in Information Technology (IT) infrastructure and adoption of wireless communication are positively impacting the growth of the smart wine cellar market, worldwide.

Planning To Lay Down Future Strategy? Request Sample https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=72471

Changing Lifestyles Influencing Wine Consumption Worldwide

Rising wine consumption coupled with increasing purchasing power is expected to contribute to the adoption of smart wine cellars due to improving lifestyles. In developed regions, wine consumption is significantly increasing annually due to its several benefits on human health. These benefits include better immune system, increased bone density, reduced risk of stroke & heart disease, and low cholesterol level. This factor is expected to positively impact the growth of the smart wine cellar market over the forecast period.

Smart Wine Cellar Market: Segmentation

The global smart wine cellar market has been segmented based on capacity, application, and region.

In terms of capacity, the smart wine cellar market has been segmented into up to 500 bottles, up to 1,000 bottles, up to 1,500 bottles, and more than 1,500 bottles. The up to 500 bottles segment is expected to account for the largest share (~one-third) of the global smart wine cellar market in 2019. Additionally, the up to 500 bottles segment is projected to expand at the highest CAGR of ~12% during the forecast period.
Based on application, the smart wine cellar market has been divided into residential and commercial, in which, the commercial segment includes restaurants/bars and hotels. The commercial segment is likely to hold ~three-third of the global smart wine cellar market in 2019. The residential segment is expected to account for a higher CAGR of ~11% of the global smart wine cellar market in 2019.

Curious? Request To Access Market Data Smart Wine Cellar Market

Smart Wine Cellar Market: Regional Outlook

In terms of region, the global smart wine cellar market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe led the global smart wine cellar market, accounting for a substantial share in 2018, with Germany, the U.K., France, and Italy being the major markets in the region. The Europe smart wine cellar market is expected to hold the largest share of ~41% by 2019. In addition, the Asia Pacific smart wine cellar market is expected to rise at a high CAGR of ~11% during the forecast period.

Smart Wine Cellar Market: Competition Dynamics

The research study includes profiles of leading companies operating in the global smart wine cellar market. Key players profiled in the report include Haier Inc., LG Electronics Inc., Liebherr-International Deutschland GmbH, EuroCave, Dometic Group AB, Electrolux AB, La Sommeliere, Avast Solutions, Cellar Solutions Inc., and Caveasy.

More Trending Reports by Transparency Market Research –

Process Spectroscopy Market https://www.globenewswire.com/news-release/2019/08/20/1904315/0/en/Demand-for-Better-Manufacturing-Process-to-Surge-the-Growth-of-Process-Spectroscopy-Market-Reports-Transparency-Market-Research.html

Air Cargo Market https://www.prnewswire.com/news-releases/air-cargo-market-to-expand-at-a-cagr-of-4-9-by-2025--due-to-growing-effective-options-for-goods-transportation-noted-tmr-300839626.html

Aerospace Window Frame Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Aerospace window frames are used in the cockpit windshields and passenger cabin windows to provide rigidity to the windows. Metal window frame is used widely in aircrafts. Increase demand of cockpit windshield frame in different countries such as India, Brazil and China among others is the one of the major factor boosting the market for aerospace window frame during the forecast period of 2017 – 2025. Based on aircraft type, the global aerospace window frame market is segmented into wide body aircraft, narrow body aircraft, very large aircraft, general aviation and regional aircraft. Among various aircraft types, in 2016, the wide body aircraft segment is estimated to be the major market followed by very large aircraft and expected to be the same during the forecast period of 2017 – 2025. Increasing regional and commercial aircraft deliveries is expected to be one of the major factor fueling the regional aircraft segment in global aerospace window frame market during the fo...

Umbilical Market: Worldwide Industry Analysis and New Market Opportunities Explored

Umbilical cable refers to a technology which transfers signals, consumable, or energy from one end of the cable to another. Umbilical cables consist of multiple components assembled together in a composite structure. These components include hoses, tubes, electric cables, and optic cables. In addition, various types of umbilical cables are designed according to the requirement within the application such as electrical umbilical cables with signal and power elements to connect the ends over long distance. Furthermore, some umbilical cables are used to control the operation of subsea production, processing, and injection facilities. Similarly, some umbilical cables provide electric power to control signals to and from system. The Remote Operated Vehicle (ROV) umbilical communication cables are widely used during the installation of subsea control systems, and operational systems. The umbilical cables are also used to monitor position and functions of subsea installations remotely from o...

Mulch Films Market By Manufacturers, Regions, Type and Application, Forecast To 2027 | AMCO Proteins, BASF SE, Berry Global Inc., Dow

To understand the market in depth, Mulch Films Market research report is the perfect solution. With the specific base year and the historic year, estimations and calculations are performed in the report. This global market research report studies the market at regional and global level by considering major geographical areas. This Mulch Films report is generated with the combination of best industry insight, practical solutions, talent solutions and latest technology. The analysis and forecasting of market data using best statistical and coherent models, market share analysis and key trend analysis are the major accomplishing factors in this market report. Mulch Films report provides complete background analysis of the Mulch Films industry which includes an assessment of the parental market. All the statistical and numerical data, which is calculated with the most established tools such as SWOT analysis, is represented with the help of graphs and charts for the best u...

Research Blogs

Search This Blog