Smart Water Cooler Market: Introduction
- Smart water coolers possess two outlets: one dispenses hot water, while the other dispenses cold water. This differentiates them from traditional water coolers. Smart water coolers have various functions such as LCD display, app control, and temperature control. They also carry additional in-built features such as water purification or filtration and additional dispenser for room temperature water.
- Demand for water coolers or water dispensers is increasing owing to the lack of availability of clean and pure water; and rise in awareness about health and hygiene among consumers. Furthermore, smart water coolers are more energy efficient and environmentally friendly. Therefore, the global smart water cooler market is expected to expand significantly during the forecast period.
Key Drivers and Opportunities of the Global Smart Water Cooler Market
- 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 rising temperature across the globe. This rise in temperature is leading to an increase in demand for cold water. Other factors driving the market include awareness of timely consumption of water for better immune system and desire for clear skin. Smart water coolers also keep the water distilled and clean due to the attached filtration and covered water storage.
- Players operating in the global smart water cooler market are estimated to benefit from the rising demand for purified water in the near future, due to the increase in awareness about health among consumers. Key players are launching new products that incorporate long-lasting and low-cost components. Additionally, they are focusing on manufacturing sustainable products in order to reduce the consumption of energy. Improvement in economic conditions is also likely to boost the global smart water cooler market.
- Excessive consumption of electricity is a restraint for the smart water cooler market. Frequent replacement of components and additional expenses related to replacements are also hampering the market. Therefore, manufacturers of smart water coolers are focusing on developing products that consume less electricity, are easily portable, and can purify water easily.
Asia Pacific to Hold Major Share of the Global Smart Water Cooler Market
- In terms of geography, the global smart water cooler market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is expected to drive the global smart water cooler market. Improvement in standard of living is leading to the increase in adoption of smart water coolers in developing countries. This is expected to boost the market in Asia Pacific in the near future.
Key Players Operating in the Global Smart Water Cooler Market
- Waterlogic USA Inc.
- Blue Star Limited
- Voltas Inc.
- Atlantis, Haier Inc.
- Honeywell International
- American Micronics Instruments (India) Private Limited
- Kent RO Systems Ltd.
- Culligan Water
- Panasonic Corporation
- Cosmetal SRL
Global Smart Water Cooler Market: Research Scope
Global Smart Water Cooler Market, by Product Type
- Bottled Water Coolers
- Bottleless Water Coolers
Global Smart Water Cooler Market, by Capacity
- Less Than 10 Liters
- 10 Liters to 20 Liters
- More Than 20 Liters
Global Smart Water Cooler Market, by Operation
- Top Loading
- Bottom Loading
Global Smart Water Cooler Market, by Application
- Restaurants & Hotels
- Schools & Offices
- Others (Malls, Community Centers, etc.)
Global Smart Water Cooler Market, by Price
Global Smart Water Cooler Market, by Distribution Channel
- Company-owned Websites
- Independent Retailers
- Convenience Stores
- Other Retail Stores
Global Smart Water Cooler Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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