LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global smart bottle market to grow at a CAGR of close to 15% during the period 2018-2022, according to their latest report.
This market research report segments the global smart bottle market into the following applications (smart water bottle, smart pharmaceutical bottle, smart alcoholic beverage bottle, and smart baby feeding bottle) and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the surge in IoT as a key factor contributing to the growth of the global smart bottle market:
Surge in IoT
Smart products are created by connecting several existing products such as mobile phones, watches, bottles, and refrigerators to web construct channels for which digital services are personalized through IoT technologies that enable one-to-one communication. This system also links the creator of product and the consumer to obtain real-time information about the usage. Various sectors such as manufacturing, healthcare, and retail spaces have inexpensive sensors and embedded software running across internet protocol (IP) networks that enable the products to regulate, sense, monitor, and optimize themselves in increasingly autonomous and meaningful ways.
In smart water bottles, the amount of water is automatically recorded using the weight sensor installed inside the bottle. Based on IoT technology, smart bottles interact with devices that have the application installed, which allows sharing of the usage information. The newly connected gadgets that are controlled by mobile apps and feed personal data into the cloud are driving a wave of IoT.
According to a senior analyst at Technavio for packaging, “Big data and healthcare IoT are expanding, and they are expected to account for more than USD 115 billion by 2020. IoT is revolutionizing emergency medical systems, thereby allowing improved patient care on site and during transit. For instance, smart pill bottles keep track and send real-time messages to patients about the dosage of their medicines.”
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Global smart bottle market segmentation
The smart water bottle segment dominated the global smart bottle market with a share of more than 54% in 2017. It was followed by the smart pharmaceutical bottle segment, smart alcoholic beverage bottle segment, and smart baby feeding bottle segment respectively.
In terms of geography, the global smart bottle market was dominated by the Americas with around 55% market share in 2017, followed by EMEA and APAC respectively. The smart bottle market in the Americas was dominated by the US, as many smart bottle vendors are present in this region.
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