Global Smart Coffee Maker Market 2017-2021
Overview of the global smart coffee maker market
Technavio’s market research analyst predicts the global smart coffee maker market to grow steadily at a CAGR of around 39% by 2021. One of the primary drivers for this market is remote access convenience and growing market for automatic coffee brewing machines. All the smart coffee makers can be accessed through smartphones either from Bluetooth or Wi-Fi connectivity. The users can operate smart coffee maker from anywhere inside the house and can provide instructions from a smartphone. For instance, if the user forgets to refill the water or neglects to return the pot in coffee machine, the app would send the notifications to the user. It will also remind the user to replace the water filtration disk at the appropriate time. Smart coffee maker can remind the user when it is running low on coffee beans, milk, or water, and the users can reorder through a smartphone. Increased convenience and functional value of easy communication with smart connected products are remotely driving the market for smart coffee makers.
In terms of geography, EMEA accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. In Europe, the market for small electric appliances grew tremendously in 2016. This upward trend has been seen in small electric appliances in Western European countries such as Germany, the UK, and Italy, which have registered double-digit growth. In the Europe's smart coffee maker market, growth has been seen primarily in countries like Italy, the UK, and Germany. The major factor contributing to this growth is the high purchasing power of the consumers to switch from semi-automatic to smart coffee makers. Factors such as improvement in living standards and an increase in urbanization will drive the growth of smart coffee makers in the region during the next few years.
Competitive landscape and key vendors
The global smart coffee maker market is highly competitive due to the presence of both major vendors and small players operating across the market. Also, there is a considerable competition among the vendors that wish to gain market shares on the basis of product differentiation, pricing, product portfolios, and value-added services. To gain a competitive advantage and survive in this competitive scenario, it becomes imperative for vendors in the market to differentiate their product and service offerings through a clear and unique value proposition.
Leading vendors in the market are -
- Jarden Consumer Solutions
- Nestlé Nespresso
- Koninklijke Philips
- SMARTER APPLICATIONS
Other prominent vendors in the smart coffee maker market include Auroma Brewing Company, De’Longhi Appliances, FANSTEL, POPPY, and REDMOND Industrial group.
Segmentation by technology and analysis of the smart coffee maker market
- Wi-Fi-enabled smart coffee maker
- Bluetooth-enabled smart coffee maker
During 2016, the Wi-Fi-enabled smart coffee maker dominated the smart coffee maker market and accounted for a major part of the overall market share. Most of the companies in the market are offering Wi-Fi-enabled smart coffee makers. Companies such Jarden Consumer Solutions and SMARTER APPLICATIONS offer smart coffee makers that can be controlled through smartphone by using Wi-Fi connectivity. Mr. Coffee and Smarter Coffee machine are the smart coffee makers offered by these companies in the market.
Segmentation by distribution channel and analysis of the smart coffee maker market
- Speciality retailers
- Department stores
- Hypermarkets and supermarkets
- Discount stores
In this market study, analysts have estimated speciality stores to dominate the smart coffee maker market during the forecast period. Specialty stores provide a large variety of brands, many product portfolios (brand specific or multi-branded), and sell similar types of products across all outlets. This compels the consumers to prefer specialty retailers, when it comes to smart electronic appliances.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global smart coffee maker market?
- What are the key market trends impacting the growth of the global smart coffee maker market?
- What are the challenges to market growth?
- Who are the key vendors in the global smart coffee maker market?
- What are the market opportunities and threats faced by the vendors in the global smart coffee maker market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global smart coffee maker market?
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