The global smart coffee maker market size was worth around USD 6.412 Billion in 2022 and is predicted to grow to around USD 9.256 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.72% between 2023 and 2030.
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➤ The market is expected to experience development due to the increasing demand for smart home appliances.
The global smart coffee market is anticipated to expand in response to the increasing demand for smart home appliances. At present, the industry is classified as a high niche due to its focus on a restricted consumer base. One such criterion is that consumers should be enthusiastic coffee drinkers and have a proclivity for utilising smart technology to facilitate lifestyle tasks. This relatively small segment of the consumer group is expanding at a rapid pace and is anticipated to contribute to the industry’s growth.
➤ The market growth is restricted at a high cost.
The high cost of the device is one of the primary growth constraints in the global smart coffee maker industry. Additionally, these coffee machines are constructed with sophisticated tools and networking systems, which distinguish them from conventional coffee makers. Consequently, any damage that occurs outside of the product warranty can result in substantial expenditures. It may be challenging for users to locate skilled personnel who are capable of repairing any damage to the device. In addition, a significant portion of the prospective consumer base may continue to favour conventional coffee consumption methods, at least in the context of residential or home environments.
➤ The market growth is restricted at a high cost.
The high cost of the device is one of the primary growth constraints in the global smart coffee maker industry. Additionally, these coffee machines are constructed with sophisticated tools and networking systems, which distinguish them from conventional coffee makers. Consequently, any damage that occurs outside of the product warranty can result in substantial expenditures. It may be challenging for users to locate skilled personnel who are capable of repairing any damage to the device. In addition, a significant portion of the prospective consumer base may continue to favour conventional coffee consumption methods, at least in the context of residential or home environments.
➤ Competition from alternatives is expected to pose a significant obstacle.
The global smart coffee maker industry is highly accommodating and meets the requirements of specific consumer demographics. It contends with formidable and nearly insurmountable competition from conventional coffee machines, as the latter’s consumer base is exceedingly large. In addition, the persistent concerns regarding recession and global economic slowdown may result in additional consumer losses unless industry participants are able to offer machines that are economical. Additionally, newcomers may encounter significant challenges in achieving the break-even point during the initial phases of their business.
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The Global Smart Coffee Maker Market is segmented based on product, application and region
Global Smart Coffee Maker Market: Product Segment Analysis
● Bean-to-Cup
● Espresso
● Drip Filter
● Pod or Capsule
Global Smart Coffee Maker Market: Application Segment Analysis
● Residential
● Commercial
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The global Smart Coffee Maker market profiles key players such as:
● Brewgenie
● Behmor Inc.
● Nuova Simonelli S.p.A.
● DeLonghi Appliances S.r.l.
● Mr. Coffee
● Hamilton Beach Brands Holding Company
● Third Wave Automation
● JURA Elektroapparate AG
● Tchibo GmbH
● Keurig Dr Pepper Inc.
● Wilfa
● Koninklijke Philips N.V.
● Melitta Group
● Zojirushi Corporation
● Nestlé S.A.
● Touch Coffee & Beverages
● Smarter Applications Ltd.
● Krups
???? Recent Developments:
• Coca-Cola Company, a prominent producer of carbonated soft drinks, announced the introduction of a new and innovative coffee-making machine in the North American market in July 2022. One specific product will be the primary focus of the company’s new strategy to dominate the global industry. Costa clever Cafes, a clever coffee vending machine, will serve coffee at the convenience of a single button press.
• Keurig Dr Pepper, a prominent company in the beverage industry, announced the introduction of K-Café Smart in September 2022, thereby expanding its brewer line. The Keurig mobile application contains over 70 coffeehouse concoctions that can be accessed by the new machine. It is capable of selecting the optimal settings for a cup of coffee and operates on BrewID technology developed by the brand.
➤ North America is expected to experience unparalleled expansion.
North America is anticipated to experience unparalleled expansion in the global smart coffee maker market during the forecast period. The United States is the main regional industry shareholder, and the region is already a significant contributor to the global market. The primary factor contributing to the growth is the presence of key actors who have implemented superb strategic measures to increase product awareness, thereby increasing the rate of production adoption. Additionally, the regional CAGR is influenced by factors such as the increasing demand for smart home systems, the willingness of individuals to implement smart technology, and the high level of disposable income.
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