Smart Bottle Market By New Business Developments, Innovations, And Top Companies

The global smart bottles market is likely to witness high growth in the coming years due to significant efforts made by several prominent players in the market. Leading players are focusing on using advanced technologies to enhance product quality and connectivity. Moreover, as there are large number of players operating in the global smart bottle market, competition is likely to increase. This will also turn the global market fragmented. They are also engaged in mergers and acquisition, partnership, and collaboration to reinforce their position in the global market. Noticeable players such as Spiritz, Thermos LLC, Myhydrate, and Adheretech Inc. collectively held 5% share in the market in 2016. Various other players operating in the market include Trago Inc, Kuvee, Inc., Sippo, Hidrate Inc., Hydrasmart, and Ecomo Inc.

Researchers from Transparency Market Research estimated that the global smart bottle market would reach US$258.8 mn by the end of forecast period in 2024. In 2016, the market earned US$88.8 mn. To achieve this figure, the market is likely to progress at healthy 14.3% CAGR between 2016 and 2024.

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Application of smart bottle is largely seen in water bottle segment and it is expected to lead the global smart bottle market in the near future. In 2016, this segment held 56.4% share in the global market. The pharmaceutical bottles segment is projected to take the second position in the market. Regionally, North America is leading the global smart bottles market due to technological advancements taking in the region. On the other hand, Asia Pacific region is expected to be the most promising region for expanding smart bottles market, as several smart bottles manufacturers are investing in this region. Significant rise in e-commerce and growing acceptance for smart technologies and devices in Asia Pacific helped in drawing attention of global smart bottle manufacturers.