Description of the Report
Artificial Intelligence-powered Wine Cellars Gain Popularity Due to Online Sales in the COVID-19 crisis
Wine lovers are searching for ways to buy bottles online during the COVID-19 crisis due to discounts on online purchases for new customers and current club members. These developments are creating new opportunities for businesses that operate in the market of intelligent wine cellars. A new company in the field of technology, WineCab, is getting recognition for its use of artificial intelligence (AI) software to enhance the management of wine and storage of information about which wine should be favoured.
The intelligent wine cellar industry business has suffered due to the coronavirus outbreak as people are reluctant to spend money on non-essential items. Therefore the brilliant wine cellar makers are targeting people with high incomes by offering high-tech wine storage systems to assist them in organizing and managing your wine cellar.
Compressor Wine Cellars Comparing Thermoelectric Cellars for Wine versus Thermoelectric Cellars Which is the Best?
Compressor wine cellars have a significant cooling capacity and longer service lives. But, they have some operating noise and prices that are high. The thermoelectric or semiconductor wine cellars are lightweight, affordable and do not require the use of refrigerants that are harmful to the environmental impact. But, they have shorter service lives, and the environmental conditions affect the cooling efficiency. Therefore, businesses in the market of intelligent wine cellars are bringing awareness to different aspects of buying, like price, quality of the wine stored and capacity, to aid consumers in making an informed decision about buying.
Mobile Apps enable automated Real-time Monitoring of Temperature and Humidity.
Bright wine cellars can be operated by using mobile applications. For instance, the Fogwing eco App is getting increasingly popular for its intelligent wine cellar monitoring systems, which allow automatic refrigerators. Therefore, businesses operating in the intelligent wine cellar industry are taking advantage of the technology because a growing number of hospitality managers and winery proprietors are moving to mobile apps that offer immediate updates on temperatures and humidity.
The automated monitoring of the climate cellar is an increasing trend in the market for intelligent wine cellars. To develop mobile applications that allow automation technology, companies are increasing their capabilities for R&D in the industrial Internet of Things (IIoT) platforms. This has resulted in innovations in sensor technology, which monitors the live temperature, humidity, pressure and temperature levels in the atmospheric air.
Wi-Fi-enabled Smart Wine Cellars Observe the Demand
The seamless design and Wi-Fi-enabled wine cellars are creating potential revenue for producers. This is why the market for intelligent wine cellars is expected to grow at a CAGR of about 9 per cent throughout the evaluation period. LG Signature has announced to extend its appliance lineup by announcing the U.S. launch of its new Wi-Fi-enabled and precise temperature-controlled refrigerators.
Beautiful designs and features in intelligent wine cellars are drawing consumers’ attention. They are also attracting attention from UV (ultraviolet) resistive glass auto-lift drawers, and glass touch displays are becoming increasingly popular with customers. The companies operating in the market for intelligent wine cellars tend to concentrate on reducing temperature fluctuations and noise in appliances.
The ultra-quiet cooling systems, virtual Sommeliers and Ultra-quiet Are prominent in Wine Cellars.
The rising trend of smart homes and intelligent eateries can bring in revenue for businesses in the market of bright wine cellars. The robot WineWall is getting more attention due to its AI capabilities and a virtual Sommelier who assists with the pairing of food and wine. Startups are leveraging value-grabbing opportunities in the market for intelligent wine cellars and are taking additional steps to modify the equipment to meet a person’s preferences.
Interior walls, metal trim and wood-like finishes can enhance the look that bright cellars offer. Businesses that operate in the market for intelligent wine cellars are expanding the quality of their R&D capabilities to include ultra-quiet cooling systems that integrate with environmental thermostats in AI-powered automated wine cellars.
Smart Wine Cellar Market Report Scope and Segmentation
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Smart Wine Cellar Market: Overview
- According to the most recent market report released by MarkWide Market Research on the intelligent wine cellar market over the time period, 20212031 (wherein 2021-2031 is the forecast time frame while 2020 will be the starting year), the growing consumption of wine around the world is predicted to propel the market for intelligent wine cellars
- Globally, the revenue from the need for smart wine cellars was more than US 1.1 Bn in 2020 and is projected to grow at a rate of about 9 per cent by value in the forecast timeframe.
The rising demand for Smart Wine Cellars The Key Factor in Smart Wine Cellar Market
- The increasing consumption of wine by customers over the last few years has influenced the development of the market for intelligent wine cellars. Many people frequent local wineries, pubs, nightclubs, etc., where the wine can be served. A rapid increase in the supply of wine via commercial bars, kitchens and counters at pubs has boosted the development of the market for intelligent wine cellars because it allows you to keep track of and analyze the condition of the basement in real-time.
- The proliferation of wineries and their distributors over time providing unique products is driving the market for intelligent wine cellars. Furthermore, the increasing consumption of wine and its popularity in various traditional ceremonies, celebrations, special occasions, and events fuel the need for smaller-sized wine cellars for residential areas.
- Today, different advanced and efficient technologies remotely control various commercial and intelligent home appliances. Therefore, the rapid development of the information technology (IT) infrastructure and the adoption of wireless communications have positively impacted the market for intelligent wine cellars across the globe.
Changes in lifestyles affecting wine consumption: A Big opportunity for smart Wine Cellar Market
- The rising wine consumption, coupled with an increase in purchasing power, is anticipated to increase the popularity of intelligent wine cellars due to improved living conditions. In regions with developed economies, the consumption of wine is growing due to its many health advantages. These benefits include a more robust immune system, improved bone density, a lower chance of heart and stroke disease, and lower cholesterol levels. These benefits and others have led to an increase in wine consumption.
- A study recently conducted by researchers from the Israel Institute of Technology found that drinking red wine increases blood circulation, therefore improving the overall condition of your heart and reducing the risk of heart disease. In addition, a study from John Hopkins University Medical Center found that drinking wine instead of other drinks alcohol can reduce the chances of blood clotting, which is beneficial to women. Thus, the population is rapidly changing their habits toward wine because of its numerous health benefits. This will positively affect the development of the market for intelligent wine cellars in the coming years.
Growing Demand for Smart Wine Cellars that have Smart Technology: A Key Trend in the Global Market
- The most recent trend is the increasing utilization of intelligent wine cellars in the commercial industry, which positively impacts the market for bright wine cellars. Increased use of customized intelligent wine cellars in commercial areas like bars and pubs, cafes, hotels and restaurants to improve the interior and the growing demand for smart and programmable solutions for wine-based appliances by users are driving the market for bright wine cellars. Furthermore, the growth of online platforms for selling bright wine cellars in the COVID-19 crisis is predicted to propel the market.
Pricey Product Expected to Hamper the Smart Wine Cellar Market.
- Bright wine cellars can be expensive. Basements can be connected to the Internet by Wi-Fi or other connections to provide a range of functions, including a customized temperature for each compartment and notification of any technical problems in the cellar. In developing or underdeveloped countries, the purchasing power of consumers is relatively low compared to advanced economies. This is why the high cost of intelligent wine cellars is negatively impacting the global market. Additionally, the high price of operation, maintenance and upgrading of intelligent technology is likely to slow expansion.
Smart Wine Cellar Market: Competition Landscape
- Specific profiles of the producers of wine cellars that are smart are presented in the report to assess their financials, products, the latest developments and strategies
- Principal players operating in the market for intelligent wine cellars are
- Whirlpool Corporation
- Electrolux AB, Haier Inc.
- Liebherr-International AG
- Dometic Group
- BSH Home Appliances Corporation
- Middleby Corporation
Smart Wine Cellar Market: Key Developments
- Leading players in the market for intelligent wine cellars are investing more in new products that meet the demands of the end-users. The manufacturers have also planned to broaden their product offerings and presence across different regions through mergers and acquisitions and offer customers customized solutions.
- Other significant developments in the market for intelligent wine cellars are listed in the following paragraphs:
- In March 2020, Whirlpool Corporation officially opened its factory distribution facility situated in Tulsa, Oklahoma. The current plant makes freestanding and slide-in appliances in the Whirlpool, KitchenAid, Maytag, Amana, and JennAir brands. This will allow the company to meet the growing demand of customers and increase its reach.
- Middleby Corporation Middleby Corporation, in December 2020, acquired Zhuhai Guangdong in China. United Foodservice Equipment Group specializes in developing and distributing counter-top commercial foodservice equipment.
Smart Wine Cellar Market Scope of the Report
A new study of the global market for intelligent wine cellars was released through MarkWide Market Research (MWR). It provides an abundance of information about the most important market developments, including the market’s drivers, trends and issues and the need for intelligent wine cellars in the world. MWR’s research provides valuable information regarding the intellectual wine cellar marketplace to show how the market will increase over the next five years between 2021 and 2031.
The key indicators of market growth include the value chain and supply chain analysis and CAGR, or Compound Annual Growth Rate (CAGR), which is explained in the MWRs study thoroughly. These data will help users understand the growth factors that are quantitatively affecting the bright wine cellars market over the forecast time.
An in-depth analysis of the business strategies of major market players is also included in the MWR study of the global market for intelligent wine cellars. It will aid readers in understanding the key factors determining future growth in the smart wine cellar marketplace. In this research, the readers will also get specific details on the qualitative and quantitative growth possibilities for the market for intelligent wine cellars that will help the market players make the right choices shortly.
Crucial Questions Answered by MWR’s study of Smart Wine Cellar Market.
- What are the main factors that influence the market for intelligent wine cellars in each region?
- What is the CAGR for the intelligent wine cellar industry in general between 2021 and 2031?
- What are the prospects and evolving technological trends in the smart wine cellar market?
- What factors could hinder the expansion of the intelligent wine cellar industry over the forecast period?
- Which are the most reputable firms in the intelligent world market for wine cellars
The Research Methodology Smart Wine Cellar Market
A distinctive research method uses MWR to conduct an extensive study of the development of the intelligent wine cellars market. It also helps make conclusions about the growth potential in the marketplace. This research method involves a mix of secondary and primary research that helps analysts ensure the reliability and accuracy of the conclusions drawn.
Secondary sources cited by analysts in preparing the wise wine cellar report are statistics from company annual statements, SEC reports, corporate websites, World Bank database, investor presentations and documents from government agencies, regulatory databases and white papers from the industry. Analysts also interviewed senior managers, portfolio executives, CEOs, VPs, and market intelligence professionals who were involved in creating MWRs research on the market for intelligent wine cellars as the primary source.
The primary and secondary sources have provided complete information in interviews. This is confirmation from experts in the industry of intelligent wine cellars. Access to a large internal repository and proprietary external databases allows this study to answer specific concerns about the smart wine cellar industry with precision. The report also uses the top-down approach to analyze the figures for each segment and the bottom-up method to validate these numbers. This has made MWRs estimations on the future of the intelligent wine cellar industry more accurate and reliable.
Smart Wine Cellar Market Segmentation
MWR’s research on the global market for intelligent wine cellars contains information in four sections: capacity applications, distribution channels and regions. Trends in the industry are changing, and essential market dynamics associated with these market segments for bright wine cellars are discussed in depth.