Smart Home-Based Beverage Machine Market Size By Product (Smart Soda Machine, Smart Water Machine, Smart Espresso Machine, Smart Juice Machine), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Smart Home-Based Beverage Machine Market Size

Smart Home-Based Beverage Machine Market size exceeded USD 1.5 billion in 2019 and is anticipated to grow at a CAGR of over 5.5% between 2020 and 2026. The global industry shipments are projected to reach 4 million units by 2026. Increasing consumer investments for development of modular kitchens are surging the adoption of advanced home appliances, driving the market demand.
 

The increasing smart home construction activities coupled with growing consumer awareness on intelligent home appliances will drive the market growth. Smart home-based beverage machines are integrated with advanced technologies, such as Bluetooth or Wi-Fi, that allow users to operate the device remotely. Additionally, AI and IoT technologies aid in providing personalized features, enhancing user convenience.
 

Changing consumer lifestyles and increasing awareness of energy conservation have created a huge demand for energy-efficient & smart beverage machines. Governments across the globe are implementing stringent norms on energy consumption by home appliances, which have led industry players to introduce new energy-efficient home appliances, driving the market share.
 

The major factor challenging the industry growth is price of smart home-based beverage machines. These appliances are integrated with advanced sensors, switches, and LED touch displays, thereby increasing the overall equipment price in the market. Lack of customer awareness in several countries, including India, Brazil, and Mexico will hamper the market size. Furthermore, the recent outbreak of COVID-19 is anticipated to restrict the market demand in 2020 as governments across the globe have implemented stringent lockdowns to restrict the spread of virus.
 

Smart Home-Based Beverage Machine Market Analysis

The smart espresso machine segment held over 25% of the market share in 2019 and is expected to cross a valuation of USD 500 million by 2026. The demand for smart coffee machines is rising significantly in the industry owing to increasing coffee consumption across the globe. According to the International Coffee Organization (ICO), in 2020, coffee consumption across the globe is anticipated to increase by about 1.24 million bags to 169.34 million bags, creating ample growth opportunities for the market.
 

Companies operating in market are introducing new smart coffee machines that are compatible with voice assistant systems, such as Google Home, Alexa, and Siri, enabling users to use voice commands to give directions to the machine. Additionally, these machines send performance data and alerts to users’ phones when they are running low on coffee, milk, or water, enhancing user convenience and comfort. Smart beverage machines also offer efficient operations through IoT sensors, aiding in the accurate estimation of cup size to avoid spillage of coffee, boosting the market value.
 

Several benefits, such as ease-of-use and consistency in taste, are further creating growth opportunities for the market. Moreover, the demand for smart home-based beverage machines is expected to increase due to its easy maintenance, less operating cost, and availability of a variety of coffee flavors & types.
 

Europe smart home-based beverage machine market size is poised to observe around 6.5% growth rate during the forecast period impelled by increasing demand for fresh fruit juices in European countries on account of rising consumer awareness on health benefits. Consumers, particularly in the UK, Germany, France, and Spain, are compelling the demand for low-sugar and organic fruit juices, positively influencing the adoption of smart juicers.
 

Consumers are shifting their preferences to homemade fruit juices owing to their freshness and hygiene, creating demand for advanced juicers. Companies are developing intelligent juicers that can extract juice from several types of fruits to support the market trend. The industry players are focusing on enhancing their business operations in the region to cater to consumer demand and gain an enhanced market share.
 

Smart Home-Based Beverage Machine Market Share

Major players in this market are adopting several strategies, such as research & development, mergers & acquisitions, and partnerships & collaborations to expand their market shares. Furthermore, industry leaders are focusing on developing new smart home-based beverage machines with advanced features, such as IoT, AI, Wi-Fi, and Bluetooth to support the industry trend.
 

For instance, Kuvings developed a smart juice machine, HealthFriend Smart Juicer MOTIV1, that offers customized juice recipes according to the user’s body composition. Additionally, the equipment allows users to measure seven types of body composition, including body fat rate, minerals, body fat mass, body water, muscle mass, Body Mass Index (BMI), and Basal Metabolic Rate (BMR).
 

Manufacturers are focusing on improving productivity & manufacturing quality and reducing the overall environmental impacts. Appliance manufacturing companies are offering a wide product range, comprehensive support systems, and energy-efficient smart beverage machines to enhance their market share.
 

Some of the key players operating in the industry include:

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

The smart home-based beverage machine market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2016 to 2026 for the following segments:

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Market by Product

• Smart Soda Machine
• Smart Water Machine
• Smart Espresso Machine
• Smart Juice Machine

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE
  • South Africa