May 2020 | Report Format: Electronic (PDF)
The global smart water bottle market size is projected to reach USD 48.7 Million by 2025, expanding at a CAGR of 25.7%, according to a new report by Grand View Research, Inc. The increasing awareness for adequate water intake among people of various age groups is anticipated to fuel the market growth.
Recent technological advancements have resulted in the implementation of technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) in water bottles. These technologies provide information to users regarding their hydration level and intervals of water intake. Many companies have developed several mobile applications that provide personalized daily hydration goals to users.
The hydration tracking apps segment is expected to witness lucrative growth over the forecast period owing to the large-scale adoption of smartphones, fitness trackers, and various smart devices. Many smart water bottles include smart caps and sensor bands that are compatible with any regular bottles, thereby increasing the demand for the hardware segment.
The intelligent water bottles are expected to reduce the plastic waste generated across the globe, as these bottles are reusable and made of Bisphenol A (BPA) — free polymer material such as Tritan. The use of Tritan in manufacturing interactive bottles is anticipated to boost the demand for the bottles owing to their light weight and durable properties.
Since the industry is still in the evolving stage, majority of its sales occur through online distribution channel. Moreover, the product has not yet reached all the retail stores and shopping markets, thereby limiting the scope of offline sales. However, increasing technology trends is anticipated to bolster the offline sales over a period of time.
Download PDF, click the link below:
www.grandviewresearch.com/industry-analysis/smart-water-bottle-market
Further key findings from the report suggest:
- The demand for global smart water bottle market is expected to gain traction owing to the increasing awareness regarding fitness and health. The market is projected to register a CAGR of 25.7% over the forecast period.
- The polymer segment dominated the market in 2016 owing to the durability of the material. It is estimated to generate a revenue of USD 38,458.2 thousand by 2025
- The metal segment is anticipated to witness growth at a CAGR of 23.4% over the next eight years owing to its BPA-free properties
- The hardware segment captured a major market share in terms of revenue owing to the ease of use. It is expected to reach USD 25,388.3 thousand by 2025.
- The Asia Pacific regional market is projected to witness substantial growth over the forecast period owing to the increasing technological developments. It is expected to attain USD 10,429.6 thousand by 2025
- Key vendors in the smart bottle market include Caktus, Inc., Ecomo, Groking Lab Limited, Hidrate Inc., HydraCoach, Inc., Moikit, Open-2, LLC, Out of Galaxy, Inc., Thermos L.L.C., and Trago, Inc.
