Rockville, Sept. 14, 2023 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, the global Smart Coffee Maker Market is predicted to expand at a CAGR of 4.5% to reach a valuation of US$ 10.5 billion by the end of 2033.
A smart coffee maker, akin to a conventional coffee machine, is enhanced with web-based technology, allowing remote control through the Internet. A smart coffee maker is a device that incorporates advanced technology and connectivity features to offer enhanced control and convenience to users. These coffee makers are typically equipped with Wi-Fi or Bluetooth connectivity, allowing users to control various aspects of the coffee-making process through smartphone apps or voice assistants like Amazon Alexa or Google Assistant.
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Key Segments of Smart Coffee Maker Industry Research Report
|By Product Type||By Technology||By Application||By Distribution Channel|
Notable features that distinguish smart coffee makers from their traditional counterparts include precise temperature control, scheduling capabilities, and the convenience of brewing coffee at the touch of a button. The industry encompasses the development, marketing, distribution, and post-purchase servicing of these intelligent coffee machines.
The smart home appliance market, including smart coffee makers, has been growing steadily due to the increasing popularity of IoT (the Internet of Things) devices and the desire for greater convenience and control over household appliances. However, adoption of smart coffee makers and other similar appliances could vary depending on factors like price, consumer preferences, and the overall growth of the smart home ecosystem.
Key Takeaways from Market Study
- The global market for smart coffee makers is valued at US$ 6.8 billion in 2023.
- Worldwide demand for smart coffee makers is predicted to increase at a CAGR of 4.5% through 2033.
- By the end of 2033, the market is anticipated to reach a size of US$ 10.5 billion.
- Over the forecast period, the Asia Pacific market is expected to advance at a CAGR of 5.6%.
- In terms of application, use of smart coffee makers in the residential sector is anticipated to rise at a CAGR of 4.8% through 2033.
“More consumers are increasingly looking for coffee makers that allow them to customize and personalize their brewing experience. Smart coffee makers offer options to adjust brew strength, water temperature, and coffee-to-water ratios, catering to individual taste preferences. The ability to schedule brewing times and automate the coffee-making process has been a significant trend. Users can set up their coffee makers to have coffee ready at specific times, aligning with their daily routines,” says a Fact.MR analyst.
|Forecast Period||2023 – 2033|
|Value Projection (2031)||US$ 10.5 Billion|
|Growth Rate (2022-2031)||4.5% CAGR|
|No. of Pages||170 pages|
|No. of Tables||80 Tables|
|No. of Figures||219 Figures|
Key Companies Profiled
- Gruppo Cimbali S.p.A.
- Little Bear Electric Appliance Co.
- Morphy Richards India;
- Behmor Inc.
- Third Wave Automation
- Melitta Group
- Nuova Simonelli S.p.A.
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A handful of leading players hold a significant share of the smart coffee maker market. Nevertheless, spurred by technological progress and inventive product offerings, medium and small enterprises are expanding their market influence. They achieve this by introducing inventive products and venturing into new markets.
- On September 8, 2022, Keurig Dr. Pepper unveiled the K-Café SMART, the latest addition to Keurig’s range of connected coffee makers. This innovative brewer empowers consumers to craft delectable coffeehouse beverages in the comfort of their homes, with most drinks ready in under three minutes. The K-Café SMART comes with an enhanced Keurig mobile app that features a collection of more than 70 unique coffeehouse recipes. Users can select from this assortment to brew their preferred beverages.
Established manufacturers of household appliances, renowned for their traditional coffee makers and kitchen devices, are making strides into the realm of smart coffee makers. Esteemed coffee machine brands like Keurig and Nespresso have ventured into the smart coffee maker arena, seamlessly integrating their innovative solutions with capsule systems. These brands, armed with their extensive consumer base and coffee expertise, are spearheading the development of cutting-edge smart coffee solutions.
Meanwhile, technology titans such as Google and Amazon are actively exploring the realm of smart homes, a domain that extends to smart coffee makers. It is anticipated that they will forge partnerships with established coffee machine manufacturers to incorporate their voice assistants (Google Assistant and Amazon Alexa) into coffee makers, resulting in voice-controlled coffee machines.
- In a significant move, Nespresso, a coffee brand under the umbrella of Nestlé, introduced an additional touchless feature in October 2020. This enhancement was implemented for the Nespresso Momento machines, introducing three supplementary settings aimed at promoting responsible social interactions among staff members over a cup of coffee.
- Furthermore, Starbucks Corporation, in January 2020, deployed AI-enabled coffee makers in various outlets across the United States and the United Kingdom. These devices are equipped with AI-powered sensors, delivering an enhanced and efficient coffee-brewing experience to users.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global smart coffee maker market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on product type (beans-to-cups, espresso, drip filters, pods or capsules), application (residential, commercial), technology (Wi-Fi-enabled, Bluetooth-enabled), and distribution channel (online, offline), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
Checkout More Related Studies Published by Fact.MR Research:
Portable Coffee Maker Market: The global portable coffee maker market is valued at US$ 3.3 billion in 2023 and is forecasted to reach US$ 7.8 billion by 2033, expanding at a CAGR of 8.1% from 2023 to 2033.
Drip Coffee Machine Market: The Drip Coffee Machine Market is likely to acquire a global market share of US$ 60 Mn by the end of 2030. Europe accounts for nearly 40% in this market, and is expected to stay in the lead over the forecast period.
Europe Coffee Machine Market: The European coffee machine market is predicted to be valued at US$ 8.2 billion by the end of 2032 registering impressive growth at 6.7% CAGR over the 2022-2032 assessment period.
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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