Smart Home-Based Beverage Machine Market Analysis

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.