Smart Coffee Machines Market Report Overview
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The global smart coffee machines market size was USD 321 million in 2022 & the market is expected to reach USD 3910 million by 2031, exhibiting a CAGR of 32.0% during the forecast period.
Smart coffee machines are advanced coffee brewing devices that incorporate internet connectivity and intelligent features to enhance the brewing experience. These machines can be controlled remotely using smartphones or other smart devices, allowing users to customize their coffee preferences and receive notifications about the brewing process.
Smart coffee machines can be connected to a mobile app or smart home system, enabling users to control the machine from anywhere. You can start brewing a fresh cup of coffee while still in bed or adjust settings while you're away from home.
COVID-19 Impact: Pandemic Increased the Market Demand
The COVID-19 pandemic has had a significant impact on the smart coffee machines market share. With the implementation of lockdowns and restrictions on social gatherings, people spent more time at home, leading to an increased demand for coffee brewing equipment. Many individuals turned to home brewing to satisfy their coffee cravings, and smart coffee machines became popular choices due to their convenience and advanced features. Growing preference for contactless operations: The pandemic accelerated the adoption of contactless technologies across various industries, including the coffee industry. They, with their remote control capabilities and smartphone integration, offered a contactless brewing experience, which appealed to health-conscious consumers concerned about minimizing physical touch points.
Latest Trends
"Voice control and virtual assistant integration is expected to fuel the growth in the market"
Voice control and virtual assistant integration have become increasingly popular trends in the market. With the advancement of artificial intelligence and voice recognition technology, users can now control their coffee machines through voice commands. Integration with popular virtual assistants like Amazon Alexa or Google Assistant allows users to simply speak their desired coffee preferences or commands, such as "brew a cup of coffee" or "increase the strength." This hands-free operation provides convenience, especially in busy mornings or when your hands are occupied. Additionally, voice control enables users to customize and personalize their brewing experience effortlessly. By leveraging the power of voice technology, they are becoming even more user-friendly and seamlessly integrated into smart home ecosystems, making the brewing process more convenient and enjoyable for consumers.
Smart Coffee Machines Market Segmentation
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- By Type Analysis
According to type, the market can be segmented Wi-Fi-enabled coffee machines and Bluetooth-enabled coffee machines.
- By Application Analysis
Based on age, the market can be divided into home use and commercial use.
Driving Factors
"Increasing coffee consumption to foster the market growth"
The global coffee consumption has been on the rise, driven by various factors that have contributed to the growth of the market. The growing popularity of specialty coffee, with its unique flavours and origins, has captivated coffee enthusiasts and led to an increased interest in home brewing. As consumers become more knowledgeable about coffee and seek higher quality brews, smart coffee machines offer the tools to replicate the flavours and experience of a coffee shop in the comfort of one's home. Additionally, the expansion of coffee shops and cafes worldwide has created a desire among consumers to recreate those specialty coffee experiences at home, driving the demand for smart coffee machines.
"Rising consumer preference for convenience to result in the expansion of the market"
In today's fast-paced world, consumers prioritize convenience in their daily routines, including coffee consumption. Smart coffee machines provide a level of convenience that traditional coffee makers cannot match. With features like remote control, scheduling, and customization options, users can easily brew their favourite coffee with minimal effort and time. Whether it's setting the machine to start brewing before waking up or adjusting the brewing parameters from a smartphone app while on the go, these machines offer a seamless and user-friendly experience. By eliminating the need for manual operation and simplifying the brewing process, these machines cater to consumers who seek efficiency and convenience in their coffee preparation, allowing them to enjoy a fresh cup of coffee whenever and wherever they desire.
Restraining Factors
"High cost to hamper the market growth"
Smart coffee machines often come with advanced features, connectivity options, and integrated technology, making them relatively more expensive compared to traditional coffee makers. The higher price point can act as a barrier for price-sensitive consumers, limiting the adoption of smart coffee machines.
Smart Coffee Machines Market Regional Insights
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"North America to lead the market owing to the increasing popularity of coffee culture in the region. "
The North America region has shown the highest smart coffee machines market growth. The region is expected to continue to lead the market in the coming years due to the following factors such as increasing popularity of coffee culture in the region, growing demand for convenience and automation, increasing disposable income of consumers, growing penetration of internet and smart devices
Key Industry Players
"Key players are employing advanced technologies in order to stimulate further growth of the market."
All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.
List of Market Players Profiled
- Behmor: Santa Rosa, California, United States
- Jarden Consumer Solutions (a subsidiary of Newell Brands): Boca Raton, Florida, United States
- Nestle Nespresso: Lausanne, Switzerland
- Koninklijke Philips (Philips): Amsterdam, Netherlands
- Smarter: London, United Kingdom
- Auroma Brewing Company: San Francisco, California, United States
- DeLonghi Appliances: Treviso, Italy
- Fanstel: Alameda, California, United States
- Redmond Industrial: Moscow, Russia
Report Coverage
This report examines an understanding of the smart coffee machines market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 321 Million in 2022 |
Market Size Value By |
US$ 3910 Million by 2031 |
Growth Rate |
CAGR of 32% from 2022 to 2031 |
Forecast Period |
2022-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types and Application |
Frequently Asked Questions
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What value is the smart coffee machines market expected to touch by 2031?
The smart coffee machines market is expected to touch USD 3910 million by 2031.
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What CAGR is the smart coffee machines market expected to exhibit during 2021-2031?
The smart coffee machines market is expected to exhibit a CAGR of 32.0% over 2021-2031.
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Which are the driving factors of the smart coffee machines market?
The driving factors of the smart coffee machines market are increasing coffee consumption and the rising consumer preference for convenience.
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Which are the top companies operating in the smart coffee machines market?
The top companies operating in the smart coffee machines market are Behmor, Jarden Consumer Solutions, Nestle Nespresso, Koninklijke Philips, Smarter, Auroma Brewing Company, Delonghi Appliances, Fanstel, Redmond Industrial.
