Future Market Insights has announced the addition of the "Smart Water Bottle Market: Global Industry Analysis and Opportunity Assessment 2014 - 2020" report to their offering.
London, UK -- (SBWIRE) -- 03/31/2015 -- Future Market Insights (FMI), with sharp focus on emerging regions, delivers key market insights through its latest research report titled, "Smart Water Bottle Market - Global Industry Analysis and Opportunity Assessment 2014 - 2020". According to the report, the global smart water bottle market is anticipated to demonstrate a significant double-digit growth rate of 27.5% between 2014 and 2020. This growth is attributed to enhanced customer experience and technology advancement in fitness related products. The global smart water bottle market was valued at US$2.5 Mn and is expected to reach US$ 10.7 Mn by 2020. Key factors driving the global smart water bottle market are growing demand for smart fitness devices and increasing health awareness amongst fitness oriented consumers.
FMI Lead Analyst sheds light on why the smart water bottle market will become one of the major markets in the near future. "Growth of the smart water bottle market across globe is majorly driven by advancement in sensor technology, growing tech savvy consumer base, and increase in consumer spending on smart devices.
The global smart water bottle market is segmented on the basis of technology and region.
By technology, the global smart water bottle market is segmented into inbuilt, hardware, and application. Among these, the hardware smart water bottle segment accounted for 57.7% share of the overall smart water bottle market in 2014 and is expected to increase by 590 basis point share through 2020, reflecting a growth rate of 6.8% during the forecast period. Application segment was the smallest segment in the global smart water bottle market, accounted for of US$ 0.1 Mn value in 2014 and is expected to reach US $ 0.3 Mn by 2020. However, the application segment is anticipated to register a significant CAGR of 32.2% over the forecast period.
Browse report of Smart Water Bottle Market - Global Industry Analysis and Opportunity Assessment 2014 - 2020: http://www.futuremarketinsights.com/reports/details/smart-water-bottle-market
Growing health awareness and increasing per capita income across the globe has increased the acceptance for smart water bottle among health conscious and fitness freak people. North America is the prominent region for smart water bottle market and is expected to continue its dominance through 2020, followed by Europe. This is attributed to the growing interest of people towards technology advancement and demand for high-tech products. On the other hand, the Asia-Pacific smart water bottle market is expected to exhibit a significant growth rate during the forecast period due to growing awareness towards health and wellness among the people.
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Key participants in the global smart water bottle market continue to introduce innovative technology in the smart water bottle, thereby expanding their respective product lines. Key players in the global smart water bottle market include BluFit, HydraCoach, Inc., and Caktus Inc.
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