Smart water coolers are devices that dispense water at a cool temperature. These coolers are connected to a supply of water and have an outlet for cold water. Smart water coolers often have two outlets, wherein one dispenses hot water and the other cold. Smart water coolers also have additional in-built features such as water purification or filtration and additional dispenser for room temperature water. They majorly utilize electricity as a source of energy. Demand for water coolers or water dispensers is increasing owing to the lack of availability of clean and pure water and rising awareness about health and hygiene among consumers. Therefore, the global smart water cooler market is expanding at a considerable pace.
The global smart water cooler market is driven by various factors such as quick and easy availability of cold water at any time of the day and due to the rising temperature, which increase the demand for cold water. Other factors driving the market include awareness of timely consumption of water for a better immune system and desire for clear skin. Moreover, these systems keep the water distilled and clean due to the attached filtration and covered water storage.
However, excessive consumption of electricity is a restraint for the smart water coolers market. Furthermore, the frequent replacement of components and its additional expense also hampers the market. Therefore, manufacturers of smart water coolers focus on developing products that consume less electricity, are easily of portable, and can purify water easily.
The global smart water cooler market has been segmented based on product type, capacity, operation, application, distribution channel, and region. Based on product type, the smart water cooler market can be divided into bottled coolers and bottle-less water coolers. In terms of capacity, the market can be classified into less than 10 liter, 10-20 liters, and above 20 liters. Based on operation, the smart water cooler market can be bifurcated into top loading and bottom loading. In terms of application, the market has been split into residential and commercial. The commercial segment is further split into restaurants & hotels, schools & offices and other public places such as malls and community centers.
Based on distribution channel, the market can be divided into online and offline. The offline segment can be further bifurcated into hypermarkets and supermarkets, independent retailers, convenience stores, and department stores. The offline segment holds a prominent share, in terms of revenue, of the smart water cooler market. The online segment is also bifurcated into direct sales and third-party sales. In terms of region, the global smart water cooler market can be segmented into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). The schools & offices sub-segment is expected to hold a major share of the commercial segment of the smart water cooler market during the forecast period, owing to the high activities of children and more time spent in schools, resulting in the higher consumption of water.
Key players operating in the global smart water cooler market include Waterlogic USA Inc, Whirlpool, Blue Star Limited, Voltas Inc., Atlantis, Haier Inc, Honeywell International, Culligan,American Micronic Instruments (India) Private Limited, Kent RO systems Ltd., FilterWater, and Weiku. Players operating in the smart water cooler market are estimated to take advantage of the rising demand for purified water in the near future, due to the rising consciousness about health among consumers. Key players are launching new products that incorporate long-lasting and low-cost components. Additionally, they focus on manufacturing sustainable products in order to reduce the consumption of energy. Improving economic conditions are likely to boost the overall smart water cooler market.
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