Smart bottles, the technologically advanced bottles that encompass wireless communication capabilities for connecting with computing devices such as smartphones or wearables and an artificial memory that helps provide alerts through display or sound system, are one of the most popular products in the world’s technology-obsessed circles. With applications presently spanning across the drinking water, pharmaceutical, and alcoholic beverages sectors, smart bottles are increasingly gaining traction and are observing vast developments in terms of innovation and technology advances.
Transparency Market Research estimates that the global smart bottle market, which was pegged at US$88.6 mn in 2016, will reach US$258.8 mn by 2024, registering a CAGR of 14.3% between 2016 and 2024.
On the basis of application, the global smart bottle market has been segmented in the report into water bottle, pharmaceutical bottle, alcoholic beverage bottle and other bottle. Of these, the segment of water bottles is presently the leading revenue contributing application segment in the global smart bottle market, accounting for a massive 56.4% of the overall market in 2016. The segment is expected to continue to tread along an excellent growth path over the report’s forecast period, gaining a notable rise in its share global market by the end of the forecast period.
The segment of pharmaceutical bottles, presently holding the second position in the global smart bottle market in terms of revenue contribution, is expected to exhibit a promising 13.0% CAGR over the forecast period and retain its position. The segment is, however, expected to lose its share in the global market by the end of the forecast period. Other application segments are also expected to lose share in the global market by the end of the forecast period, with the segment of water bottles capturing the market.
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North America Market to Remain Top-gaining Regional Market for Smart Bottles
North America is the prominent region and holds the dominant share in the global smart bottle market, due to strong technology embedded manufacturing capabilities in the region. The region is also expected to lead the global market in terms of overall revenue contribution and rate of growth over the report’s forecast period. The market in APAC region is expected to emerge as one of the most promising avenues for the smart bottles market. The region is expected to attract investments from smart bottle manufacturers particularly targeting the growth opportunities arising from the thriving e-commerce industry. The APAC smart bottle market is expected to constitute the third-largest share in the global market by 2024 with a drop of 240 bps over the forecast period.
Vital feature of this report is the analysis of the global smart bottle market by region, application type and distribution type; and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from sales perspective of the global smart bottle market.
To understand key segments in terms of their growth and performance in the smart bottle market, Transparency Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global smart bottle market.
In the final section of the report, smart bottle market competitive landscape is included to provide a dashboard view of companies that manufacture and provide services of smart bottle market. The report contains company profiles of some of the players in the global smart bottle market.
Some of the players operating in the global smart bottle market include Hidrate Inc., Myhydrate, Kuvee, Inc., Thermos LLC, Adheretech Inc. Sippo, Trago, Inc, Spritz, Hydrasmart, Ecomo Inc.