Several factors are driving the market for smart water coolers. As people become more health conscious, they are searching for healthier water to drink. There is currently more demand for smart water coolers since they provide filtered water that is free of contaminants. As more people become aware of the drawbacks of eating dirty water, they are increasingly selecting filtered water.
Smart water coolers are a better option than tap water since they provide filtered, impurity-free water. Numerous companies have developed imaginative filtering systems that can rid water of even the smallest impurities thanks to technological advancements. Due to the filtered water that smart water coolers give that is free of pollutants, there is now a greater demand for them.
The fact that the Smart Water Cooler offers filtered water that is free of contaminants is the fundamental reason for its necessity. People want to consume water that is of higher quality as they grow more health conscious. The need for intelligent water coolers has risen as a result. Additionally, as a result of technological advancements, numerous businesses have developed cutting-edge filtration systems that can remove even the smallest contaminants from water. Due to their ability to supply filtered water free of pollutants, smart water coolers are now more popular than ever.
The following are a few benefits of the smart water cooler market: Filtered water free of pollutants is provided by the Smart Water Cooler. It includes a sophisticated filtering system that can clean water of even the tiniest contaminants. Installing and maintaining it is simple. It comes in a range of patterns and hues. It is an affordable method of obtaining filtered water.
An appliance that provides filtered water is a smart water cooler. Water contaminants are removed and made safe to drink using a sophisticated filtration system. A variety of styles and colours are offered for smart water coolers. Installation and maintenance are simple.
Furthermore, they offer filtered water at a reasonable price. The use of intelligent water coolers for drinking water is common in homes. They supply filtered, impurity-free water that is fit for consumption. Aside from workplaces, hotels, restaurants, and shopping centres, smart water coolers are also used in commercial settings. They supply filtered, impurity-free water that is fit for consumption.
The market for smart water coolers is anticipated to expand at a CAGR of 0.28 % from 2021 to 2031. By 2031, the market for smart water coolers is anticipated to be worth USD 723.45 million.
The following are some factors that are limiting the market for smart water coolers: high initial outlay, Insufficient knowledge of the advantages of filtered water, and strict government rules. The market for smart water coolers is anticipated to expand in the next years, though, as people become more aware of the advantages of drinking filtered water.
AquAid, Brita, Culligan, EcoWater Systems, GE Appliances, Haier Group, LG Electronics, Midea Group, Panasonic Corporation, and Samsung Electronics are a few of the leading companies in the market for smart water coolers.
The Point-of-Use (POU) Type emerged as the Most Lucrative Segment
Point-of-Use (POU), Other Types, and Bottled Water Dispensers (BWC) are the market segments for smart water coolers. Point-of-Use (POU) is the market segment expected to experience the highest CAGR growth during the projection period. POU smart water coolers are widely used in homes and businesses due to their simplicity in installation and maintenance. During the projected period, a moderate CAGR is expected to be experienced by the Bottled Water Dispenser or Bottled Water Cooler (BWC) category. BWC smart water coolers' appeal in households is greatly influenced by their portability and small size.
The Most Popular Application Segment is Household Use
The smart water cooler market is divided into two application-based segments: Commercial Use and Household Use. Over the forecast period, the market for residential use is expected to grow at the greatest CAGR. This has happened because more and more people are realising the advantages of drinking filtered water. In the projection period, the Commercial Use industry is anticipated to expand at a moderate CAGR. This is due to the growing use of intelligent water coolers in public spaces including workplaces, hotels, restaurants, and shopping centres.
The Asia Pacific (APAC) region to render Adequate Financing Avenues
Asia Pacific is expected to experience the highest CAGR growth of all these during the projection period. This is a result of the increased demand for intelligent water coolers in developing regions like China and India. Because there are significant participants in the market for smart water coolers, it is anticipated that the North American area would have the biggest market share. During the projection period, the Europe area is expected to increase at a moderate pace. The projection period is expected to see a slight increase in the Middle East, Africa, and South American regions.
COVID-19 Impact and Market Status
The market for smart water coolers is shrinking as more individuals choose to work from home and stay away from public places like offices, hotels, restaurants, and shopping malls due to the COVID-19 pandemic. In addition, the lockout limits have reduced the production of smart water coolers. Due to the limitations on the mobility of people and goods, the import and export of smart water coolers have also diminished. However, as lockdown regulations increasingly relax, it is projected that the market for smart water coolers will grow in the upcoming years.
Latest Innovations in the Global Smart Water Cooler Market: A Snapshot
• In order to make water safe to drink, LG Electronics introduced a new line of smart water coolers in December 2019. These coolers feature cutting-edge filtration technology.
• In order to make water safe to drink, Samsung Electronics introduced a new line of smart water coolers in November 2019. These coolers feature cutting-edge filtering technologies.
• In order to make water safe to drink, Panasonic Corporation introduced a new range of smart water coolers in October 2019. These coolers feature cutting-edge filtering technologies.
Smart Water Cooler Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 723.45 million|
|Growth Rate||CAGR of 0.28% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||AquAid, Brita, Culligan, EcoWater Systems, GE Appliances, Haier Group, LG Electronics, Midea Group, Panasonic Corporation, and Samsung Electronics|
Key Segment of Global Smart Water Cooler Market
By Type Overview 2021-2031, (USD Million)
• Bottled Water Dispenser or Bottled Water Cooler (BWC)
• Point-of-Use (POU)
By Application Overview 2021-2031, (USD Million)
By Region Overview 2021-2031, (USD Million)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa