Dublin, Oct. 15, 2020 (GLOBE NEWSWIRE) — The “Smart Water Bottle Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2020 – 2025” report has been added to ResearchAndMarkets.com’s offering.
Smart Water Bottle Market size is forecast to reach $28.5 million by 2025, after growing at a CAGR of 17.26% during 2020-2025.
The growing health consciousness among youth and adults and the rising acknowledgment about the hydration tech is enhancing the smart bottle market. Also, the increasing demand for fitness trackers, gym accessory and so on has enticed the development of smart water bottle with wireless technology that is boosting the smart water bottle industry. Furthermore, the growing awareness for ample water consumption among people of different age groups is anticipated to propel the smart water bottle market growth during the forecast period.
- North America dominates the smart water bottle market owing to increasing rise in adoption of smart wearable technology and rising awareness for healthier water consumption habits among youth and adults
- The introduction of artificial intelligence and the Internet of Things (IoT) is also playing a key role in the development of mobile applications that offers information to smart water bottle users regarding their hydration level and intervals of water intake.
- Growing number of fitness enthusiasts along with the use of emerging technology for connecting smart wearable devices, and smartphones to the gym accessories in order to track their performance and fitness activity will become the major factor that will fuel the growth of the smart water bottle market
- The major drawback is the battery life of the smart water bottle that hinders the growth of the smart water bottle market.
Drivers – Smart Water Bottle Market
- Increasing Health Awareness
The rapid changing lifestyle of the consumers is leading to increasing awareness towards health. The increasing consciousness towards health by both youth and the adult is leading to the rising need for smart water bottle market. The use of smart bottle as a gym accessory is also regarded as the major driver that is influencing the requirement of smart bottle in gym and sports club. Additionally, according to International Health, Racquet, and Sports club Association (IHRSA), the global health industry generated a revenue of $94 billion in 2018. As, the consumers are continuing to place high value on health and are widely investing in clubs and services for maintaining fitness will further boost the smart water bottle market
- Introduction of Emerging Technology
The increasing number of fitness enthusiasts is leading to the increased adoption of emerging technology such as the use of wearable device, fitness trackers, smart bands, hydrating tracking applications and so on. The introduction AI along with internet of things is also playing a key role in providing mobile apps that provides…