According to a new market report pertaining to the global smart wine cellar market published by Transparency Market Research the global smart wine cellar market is projected to reach a value of US$ 2.8 Bn by 2027 from ~US$ 1.3 Bn in 2019, expanding at a CAGR of ~10% from 2019 to 2027. Growth of the smart wine cellar market can be attributed to the high demand from commercial applications. Europe is anticipated to lead the global smart wine cellar market, followed by North America, during the forecast period.
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Rapid Advancements in IT Infrastructure & Adoption of Wireless Communication Accelerating Market Growth
Rapid advancements in information technology infrastructure and the adoption of wireless communications are major factors augmenting the growth of the smart wine cellar market. Wireless communication such as Wi-Fi plays a significant role in monitoring and analyzing wine cellars from remote locations through smartphones, tablets, and laptops. Wi-Fi technology is broadly utilized in residential and commercial establishments as a substitute to wired LAN. Wi-Fi is an effective technology to control many home & commercial smart appliances from remote locations. Thus, rapid advancements in Information Technology (IT) infrastructure and adoption of wireless communication are positively impacting the growth of the smart wine cellar market, worldwide.