Smart Water Bottle are also known as interactive water bottle. Smart water bottle are used to update the user on the hydration level in the body. The bottle collects the various information from the user such as age, weight, temperature etc. and tracks the time and amount of water intake by the user and automatically provide the update to consume water before the body gets dehydrated according to the information gathered by the bottle. Rise in Per Capita IT spending and growing concern towards healthhas brought a considerable shift in among the people towards smart water bottle.
The global smart water bottle market is estimated to value at US$ 2.5 million in 2014 and expected to reach 10.7 million by 2020, reflecting a CAGR of 27.5% during forecast period. The smart water bottle is segmented on the basis of technology which includes inbuilt smart water bottle, hardware smart water bottle and application smart water bottle.
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Inbuilt smart water bottle was valued US$ 1.0 million in 2014 with 40.1% market share. It is expected to lose out its market share by 640 BPS. Hardware smart water bottle is the largest segment in terms of revenue with 57.7% market share and likely to maintain its dominance in the forecast period with 63.6% market share reflecting an increase of590 BPS over the forecast period.Application smart water bottle is likely to exhibit highest CAGR of 32.2% during 2015-2020 with rising y-o-y growth through the forecast period.
Geographically, the market is segmented into fiveregions namely North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. North America is the dominant market for smart water bottle and likely to grow at a fastest pace compared to other region followed by Europe. This growth is attributed by the easy acceptance of newer and advanced technology with high purchasing power in the developed countries
Enhanced customer experience and increasing disposable income is driving increasing acceptance for smart water bottle among the health conscious and fitness freak people. Furthermore, advancement in sensor technology, advance product offering from supplierand rising GDP per capitaare also driving the smart water bottle market globally.