Market Analysis and Insights
The Global Smart Water Cooler Market was valued at 598.72 USD million in 2022 and it is predicted to be worth USD 605.38 million with a CAGR of 0.15% from 2022 to 2030.
The swift development of the tourist and hospitality industries, as well as the rise in smart water coolers that are more energy efficient and ecologically friendly, are driving market growth. The rise in global temperature management, as well as increased knowledge of the need to drink water on a regular basis for a healthy immune system and clean skin, all have an impact on the market. Furthermore, an increase in food spending, an increase in health-conscious customers, an increase in people's disposable income, and an increase in food expenditure all have a favorable impact on the smart water cooler industry.
On the other hand, high power usage and frequent component replacement are projected to stymie market expansion. The current issues are expected to pose a challenge to the smart water cooler industry in the coming years.
Smart Water Cooler Market Scope :
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 605.38 million |
| Growth Rate | CAGR of 0.15% during 2022-2030 |
| Segment Covered | By Type,By application,,Distribution Channel, By Region |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Clover Co., Ltd., Glacial Home, Whirlpool Corporation, OASIS International, Primo Water Cooperation, eAccess Solutions, Inc., Haier Inc., Edgars, Voltas, Inc., Emerson Electric Co., Waterlogic Holdings Limited, Electrolux Home Products, Inc., Bharti Refrigeration Works, Blue Star Limited, Breville, Inc., AK Service & Food Equipment, Aquafizer India Co., Ocean Techno, Swaggers Technologies, Sunrise Water Cooler, and Rockwell Industries Limited, |
Market Definition
Smart water coolers are not the same as ordinary water coolers. In contrast to conventional water coolers, smart water coolers have two outlets: one for hot water and one for cold water. These water coolers have features such as app control, temperature control, and an LCD display. They have extra functions built in, such as an auxiliary dispenser for room-temperature water and water filtration. Intelligent water coolers are more energy efficient, compassionate, and environmentally beneficial. The relevance of having a smart water cooler in the home stems from its potential to bring ease and efficiency through concentrated consumption.
Smart water coolers offer precise temperature regulation, allowing you to tailor the serving temperature of the water to what you want, depending on whether you desire cold water to quench your thirst or lukewarm water to brew a beverage.
Many smart water coolers have energy-efficient technologies built in. They employ innovative cooling and heating technologies to decrease energy consumption. Smart sensors and timers, as opposed to traditional water coolers, enable the cooler to operate only when required, reducing energy waste and utility expenses.
By acquiring a smart water cooler, you can contribute to environmental endeavors. These coolers save waste and help the environment by removing the necessity for disposable plastic water bottles. Since filtered water is now widely accessible on consumer demand, you may utilize reusable water bottles to reduce your plastic usage.
Key Market Segmentation
Insights on Type
Point-of-Use (POU) is expected to emerge as the most lucrative type.
A bottled water dispenser is a form of water cooler that uses a huge refillable plastic bottle to deliver water. It often has a spout at the front for easy access to the water and is frequently accompanied by a drip tray to catch any spillage. Water is typically cooled, although some types provide both hot and cold water. They are an excellent addition to any home or business and provide an easy way to have drinking water on hand.
A bottle-less water cooler is an appliance that provides water without the use of a container. Traditional coolers feature a container on the foundation that contains the drink. A water dispenser that does not need a bottle draws water straight from the water supply. This plumbed-in system has several benefits compared to traditional bottled coolers.
In Household Smart Water Coolers, a Point-of-Use (POU) is a system that offers cooled, filtered, and/or sparkling water on demand. Water is often chilled using an in-built compressor and filtered using a multi-stage filtration system. Depending on the user's preferences, the water can be supplied hot or cold. These coolers frequently have a self-cleaning feature as well as a filter change schedule. These qualities make clean, healthy drinking water accessible and dependable.
Insights on Application
The Household use segment appears to have the highest share of Application
One of the primary factors driving the growth of the smart water cooler market is the increase in consumer awareness about health and cleanliness throughout the world. The tourism and hospitality sectors are rapidly growing, and smart water coolers that use less energy and are more environmentally friendly are becoming more popular. The rise in global temperatures, as well as increased knowledge of the need to drink water on a regular basis for a healthy immune system and clean skin, all have an impact on the market. Furthermore, an increase in food spending, an increase in health-conscious customers, an increase in people's disposable income, and an increase in food expenditure all have a favorable impact on the smart water cooler industry. Furthermore, the increased demand for filtered water creates economic prospects for market participants.
Insights on Distribution Channel
The Offline Channel Seems to be the Preferred Mode of Distribution
Offline sales dominated the worldwide market, accounting for more than 72% of total revenue. Offline sales are often conducted in retail locations or via e-commerce websites. Consumers who prefer not to utilize the Internet as a medium for purchasing items benefit from offline sales channels in a variety of ways, including ease, flexibility, and accessibility. These devices also assist in preventing product returns because they do not require installation; all that is required is to fill them with water and operate them like any other household appliance.
Insights on Region
The Asia-Pacific Region is expected to Grow the fastest in the forecast period
Due to rising levels of disposable income in developing countries like China and India as well as increased health and hygiene awareness, the Asia Pacific area is anticipated to see the highest growth between 2022 and 2031 with a CAGR of 6.1%. Furthermore, the region's rising urbanization, along with fast industry, has led to an increase in demand for smart water coolers.
North America is predicted to have the largest share due to its already extensive market hegemony, while Europe is expected to develop at a slower rate.
Key Company Profiles
The competitive landscape for smart water coolers gives information per competitor. Company overview, financials, revenue generated, market potential, investment in R&D, innovative market efforts, worldwide operations, manufacturing locations and facilities, manufacturing capabilities, company shortcomings and strengths, the introduction of products, product width and breadth, and application control are all included. The data points shown above are only linked to the firm's emphasis on the smart water cooler sector.
Clover Co., Ltd., Glacial Home, Whirlpool Corporation, OASIS International, Primo Water Cooperation, eAccess Solutions, Inc., Haier Inc., Edgars, Voltas, Inc., Emerson Electric Co., Waterlogic Holdings Limited, Electrolux Home Products, Inc., Bharti Refrigeration Works, Blue Star Limited, Breville, Inc., AK Service & Food Equipment, Aquafizer India Co., Ocean Techno, Swaggers Technologies, Sunrise Water Cooler, and Rockwell Industries Limited, and others are significant participants in the smart water cooler market study.
COVID-19 Impact and Market Status
The Smart Water Cooler market has changed dramatically in recent years as a result of COVID-19 and the Russia-Ukraine War, yet the worldwide market size of Smart Water Coolers has grown at a minimal CAGR. The future of the Smart Water Cooler market is questionable in light of the challenging worldwide environment. The unexpected outbreak of the COVID-19 pandemic has led to an increase in the use of multi-purpose and bottle-less water coolers in a variety of organizations and educational institutions, as they provide highly certified filtration, purification, and antimicrobial services while also combating the spread of the coronavirus infection.
Since the outbreak of COVID-19, the global economy has been subjected to a series of destabilizing shocks, with many corporations declaring bankruptcy and seeing a dramatic drop in turnover. After more than two years of epidemics, the world economy began to recover.
Recent Developments in the Global Smart Water Cooler Market: A Snapshot
? Aquaverve, North America's leading water cooler manufacturer, announced the debut of its touchless water cooler range in September 2020. In the aftermath of the coronavirus epidemic, these water coolers were created in response to the need to foster safer environments for consumers and companies.
? Primo Water Corporation announced the release of Primo Plusa Alkaline water in North America and Europe in 2022.
Significant Growth Factors
? Due to advantages such as energy economy, convenience, and hygiene, there is an increasing demand for residential smart water coolers.
? Consumers' increasing disposable income allows them to spend on technologically improved items.
? The growth of e-commerce platforms provides consumers with a range of options at competitive costs.
Restraining Factors
? The smart water cooler industry is hampered by high power consumption.
? The market is additionally affected by frequent component replacement and the higher costs associated with replacement.
Hence, companies should be researching ways to manufacture products that will consume less smart electricity meters, are durable, and are portable while being economical at the same time.
Key Segments of Global Smart Water Cooler Market
Type Overview
• Bottled Coolers
• Bottle-Less Water Coolers
• Point-of-Use
Application Overview
• Residential
• Commercial
Distribution Channel Overview
• Online
• Offline
Regional Overview
North America
• U.S.
• Canada
• Mexico
Europe
• Germany
• France
• U.K.
• Spain
• Italy
• Russia
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• South Korea
• ASEAN
• Australia
• Rest of Asia Pacific
Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Egypt
• Ghana
• Rest of MEA
Latin America
• Brazil
• Argentina
• Colombia
• Rest of Latin America
Frequently Asked Questions (FAQ) :
The global Smart Water Cooler market size is expected to reach USD 605.38 million in 2030.
The Smart Water Cooler market is estimated to grow at a CAGR of 0.15%
The key market players listed in the Smart Water Cooler report are Clover Co., Ltd., Glacial Home, Whirlpool Corporation, OASIS International, Primo Water Cooperation, eAccess Solutions, Inc., Haier Inc., Edgars, Voltas, Inc., Emerson Electric Co., Waterlogic Holdings Limited, Electrolux Home Products, Inc., Bharti Refrigeration Works, Blue Star Limited, Breville, Inc., AK Service & Food Equipment, Aquafizer India Co., Ocean Techno, Swaggers Technologies, Sunrise Water Cooler, and Rockwell Industries Limited,