United States to Lead Global Smart Wine Cellar Market Through 2031 | KitchenAid- Whirlpool Corporation, Electrolux AB, Haier Inc.

Sales of smart wine cellars are gaining momentum with increase in application in diverse residential and commercial sectors. With the incorporation of Artificial Intelligence (AI) by leading players, the industry is expected to surge ahead over the coming years.

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Demand for smart wine cellars with a capacity of 500 bottles will remain high over the coming years.

The latest report on smart wine cellars by Fact.MR provides a thorough analysis of the global industry, its demand-supply trajectories, and crucial factors. According to the report, North America, Europe, and Asia Pacific will hold major chunk of the global market, while 20+ countries will exhibit high potential during the forecast period.

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As per Fact.MR analysis, the global smart wine cellar market will expand at around 8.5% CAGR through 2031.

Key Takeaways from Market Study

• High demand for smart wine cellars with capacity of up to 500 bottles likely to be witnessed.
• Growing application in commercial sector to boost sales.
• Advancements in online distribution channels to propel industry growth.
• The United States to remain a leading market for smart wine cellars.

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• Germany to lead in Europe’s smart cellar industry.
• The market in Asia Pacific to exhibit the fastest growth throughout the forecast period.
• China, Japan, India, South Korea, and Canada to maintain positive industry outlook.

“With key manufacturers bringing in a wide variety of compressor wine cellars and thermometric wine cellars, the global industry is subject to expand significantly in the near future. Furthermore, rise in inclination towards automation is expected to raise the revenue of key market players,” says a Fact.MR analyst.

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Commercial Sector to Account for Heightened Sales of Smart Wine Cellars

Smart wine cellars have extensive application in commercial sectors such as restaurants, bars, hotels, and others, owing to their various advantages, such as-
• Maintain the proper level of humidity
• Provide double cooling effect
• Prevents condensation

With demand from these sectors rising steadily, key players are expected to come across lucrative growth scope over the coming years.

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According to a report published by SelectUSA, the travel, tourism, and hospitality industry is one of the highly potential industries in the world. Despite suffering due to the COVID-19 pandemic, the industry is expected to grow further in the future. As stated in the report, the U.S. hospitality industry generated over US$ 1.6 trillion economic output in 2017, supporting 7.8 million U.S. jobs, while the industry is expected to represent more than 3% of the U.S. Gross Domestic Product (GDP) by 2025. This gives a glimpse of the new opportunities awaiting manufacturers of smart wine cellars, not only in the U.S. but across the world.

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This release was published on openPR.