Global Smart Water Bottle Market Dominated by North America owing to High Purchasing Power of Consumers

Albany, New York: Market Research Reports Search Engine announces the addition of a new report to its research repertoire that comprehensively studies the global smart water bottle market. The global market for smart water bottles is at a relatively nascent stage and hence the report includes elemental information and relevant data to help leading companies in the market as well as new entrants to leverage the growth opportunities. The report is titled “ Smart Water Bottle Market: Global Industry Analysis and Opportunity Assessment 2014 - 2020” and is available for sale on the company website.

According to the findings of the report, the global smart water bottle market, which stood at US$2.5 mn in 2014, is anticipated to reach US$10.7 mn by the end of 2020 exhibiting a promising CAGR of 27.50%.

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Smart water bottles, also referred to as interactive water bottles, are inbuilt with the latest technology that allows them to update users about the hydration level in their body. To provide this information, these bottles collect information from the user regarding his/her age, weight, and the ambient temperature. Based on the information collected, a smart water bottle tracks the amount of water sipped by the user and automatically updates a reminder to drink water before his or her body gets dehydrated.

The rise in the disposable income of customers and their rising health consciousness have significantly contributed to the growth of the market for smart water bottles. Based on technology, the report segments the market for smart water bottle into hardware, application, and inbuilt smart water bottle. Of these, the inbuilt smart water bottle segment, which in 2014 was worth US$1.0 mn, held 40.10% of the market. On the basis of revenue, the hardware water bottle segment led the market with a 57.70% market share. The segment is expected to maintain its leading position in the market over the forecast period, with its market share increasing to 63.30%. The segment of application water bottles is anticipated to develop at a 32.20% CAGR during the forecast period.

Browse Full Report with TOC : http://www.mrrse.com/smart-water-bottle-market

Based on geography, the global market for smart water bottles is categorized into five key regions: North America, Asia Pacific, Latin America, Europe, and Rest of the World. Among these, North America is dominating the global market for smart water bottles at present and is likely to register the fastest growth over the forecast period. Early acceptance of new technology and high purchasing power of consumers in developed countries aids the growth of the market in the region.

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