Connect with us

Technology

Wine E-commerce Market to Grow by USD 15.18 Billion (2024-2028), Driven by Rising Online Shopping Preference, with AI Redefining Market Landscape – Technavio

Published

on

NEW YORK, Dec. 2, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global wine e-commerce market size is estimated to grow by USD 15.18 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.46% during the forecast period. Increasing preference for online shopping is driving market growth, with a trend towards increase in purchases of alcoholic beverages by minors. However, complex regulatory environment poses a challenge. Key market players include Bright Cellars Inc., Costco Wholesale Corp., DRINKS Insiders LLC, E vino Comercio de Vinhos SA, Flaviar Inc., Fratelli Wines Pvt. Ltd., Gifts Inc., GoBrands Inc., IBEROWINE GOURMET S.C., Living Liquidz, Naked Wines plc, RESERVEBAR HOLDINGS CORP., Retail Services and Systems Inc., SNAP41 Inc., The Wine Emporium, Uber Technologies Inc., VINELLO retail GmbH, Vintage Wine Estates Inc., Vivino Inc., and Wine Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product Type (Still wine, Sparkling wine, and Fortified wine), Flavor (Red wine, White wine, and Rose wine), and Geography (Europe, North America, APAC, South America, and Middle East and Africa)

Region Covered

Europe, North America, APAC, South America, and Middle East and Africa

Key companies profiled

Bright Cellars Inc., Costco Wholesale Corp., DRINKS Insiders LLC, E vino Comercio de Vinhos SA, Flaviar Inc., Fratelli Wines Pvt. Ltd., Gifts Inc., GoBrands Inc., IBEROWINE GOURMET S.C., Living Liquidz, Naked Wines plc, RESERVEBAR HOLDINGS CORP., Retail Services and Systems Inc., SNAP41 Inc., The Wine Emporium, Uber Technologies Inc., VINELLO retail GmbH, Vintage Wine Estates Inc., Vivino Inc., and Wine Inc.

Key Market Trends Fueling Growth

The global wine e-commerce market faces a substantial challenge with underage purchases of alcoholic beverages, which can negatively impact market growth. According to the International Alliance for Responsible Drinking, underage drinking is a major public health concern, affecting over 200 million youth globally and costing the economy over USD400 billion annually. In the US, around 30% of online wine retailers lack age verification procedures. To mitigate this risk, wine sellers and retailers are implementing age verification software and third-party services. However, these solutions can be costly, making it a significant challenge for smaller producers and retailers. Therefore, addressing underage purchases is crucial for the growth of the global wine e-commerce market. 

The wine e-commerce market is experiencing significant growth, with increasing numbers of consumers choosing online platforms for their wine purchases. Commerces are providing a wide range of wines, from local to international brands, making it convenient for consumers. The trend of alcohol delivery services has also contributed to the growth of this market. Consumers can now order wines online and have them delivered to their doorstep. Additionally, the use of technology such as virtual tastings and personalized recommendations has made the wine buying experience more engaging and enjoyable for consumers. The convenience, variety, and innovative features offered by wine e-commerce platforms make them a popular choice for wine lovers. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The global wine e-commerce market faces regulatory challenges due to varying laws and regulations in different jurisdictions. In the US, each state sets its own rules for wine sales and shipment, creating a complex marketplace. The ongoing trade dispute between the US and EU over tariffs on steel and aluminum has led to US tariffs on European wines, impacting imports and causing logistical challenges for the wine industry. These regulations restrict wine transportation and add complexity to the e-commerce market, potentially hindering its growth.The wine e-commerce market faces several challenges in providing a seamless experience for customers. These include complexities in shipping and delivery, particularly with perishable items. Regulations and differing laws in various regions add complexity. Customer preferences for specific types and vintages require extensive inventory management. Security of transactions and customer data is a major concern. Additionally, competition is fierce, requiring effective marketing and competitive pricing strategies. Logistics and technology are key areas for improvement, with the need for efficient supply chain management and user-friendly websites. Overall, the wine e-commerce industry requires a strategic approach to overcome these challenges and provide a satisfying shopping experience.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This wine e-commerce market report extensively covers market segmentation by

Product Type1.1 Still wine1.2 Sparkling wine1.3 Fortified wineFlavor 2.1 Red wine2.2 White wine2.3 Rose wineGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Still wine- The still wine segment dominates the global wine e-commerce market, accounting for the majority of online wine sales. This segment caters to various consumer preferences, offering a wide range of wines from diverse regions and grape varieties. E-commerce platforms provide consumers with convenient access to a vast selection of still wines, including premium and high-end options. Subscription services enable personalized wine deliveries and expand consumers’ wine knowledge. The preference for premium still wines is driving the growth of the global wine e-commerce market.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Wine E-commerce Market represents a significant segment of the global alcoholic beverages industry, catering to the convenience needs of consumers in the digital age. E-commerce platforms enable the selection and home delivery of wines, reaching an expanding base of shoppers worldwide. The market encompasses various stakeholders, including wine sellers and retailers, who leverage internet penetration to expand their customer base. Online auctions provide collectors and enthusiasts with unique opportunities to purchase rare and premium wines. However, the online sales process raises concerns regarding underage purchases, a public health issue that necessitates age verification software. The complex regulatory environment, characterized by a patchwork of different sale and distribution jurisdictions, adds to the challenges faced by market participants.

Market Research Overview

The Wine e-commerce market is a thriving sector in the digital economy, offering consumers the convenience of purchasing their favorite wines online. This market caters to various segments, including red, white, rose, and sparkling wines, as well as organic and biodynamic options. E-commerce platforms provide extensive information on wine varieties, regions, and producers, enabling customers to make informed decisions. Shops offer various delivery options, including next-day and same-day delivery, ensuring a seamless shopping experience. Selection is a crucial factor, with many stores offering a wide range of wines from around the world. Additionally, features like wine recommendations based on past purchases and ratings, as well as educational content, add value to the customer journey. Overall, the Wine e-commerce market is a dynamic and competitive space, driven by consumer demand for convenience, variety, and knowledge.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Product TypeStill WineSparkling WineFortified WineFlavorRed WineWhite WineRose WineGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/wine-e-commerce-market-to-grow-by-usd-15-18-billion-2024-2028-driven-by-rising-online-shopping-preference-with-ai-redefining-market-landscape—technavio-302318985.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

AI-Powered Earbuds Transforming North American Smart Offices: Exclusive Insights from viaim CPO at CES 2025

Published

on

By

LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — At CES 2025 in Las Vegas, Liu Da, Chief Product Officer (CPO) of viaim, an AI technology hardware company deeply rooted in the smart office sector, gave an exclusive interview, sharing valuable insights into viaim’s exploration of the field of AI-powered earbuds, its innovative product concepts, and how the technology addresses common workplace challenges in North America. Mr. Liu also delved into the market potential of AI-powered earbuds and viaim’s strategic blueprint for shaping the future of smart offices, especially in the North American market.

North American business professionals have widely embraced remote and hybrid work models. The rise of multilingual communication has fostered a highly digitalized consumer landscape with diverse user needs, particularly for smart office solutions. In response, viaim is dedicated to developing practical AI solutions that alleviate repetitive and tiring office tasks. By addressing the evolving demands of North American professionals with its AI-driven innovations, viaim is advancing its global mission to transform work efficiency and productivity.

Unique advantages of AI-powered smart earbuds

In the interview, Mr. Liu said earbuds, being close to the user’s senses, are seamlessly integrated into daily life and serve as an ideal platform for AI technology. Unlike traditional office hardware, AI-powered earbuds are portable and versatile, fitting various scenarios such as remote meetings, commuting, and entertainment. He highlighted that viaim’s AI-powered smart office solutions position the Company to bridge the gap between people and devices, transforming earbuds from simple audio tools into smart office partners. 

viaim’s technology and design challenges during the R&D  phase

Mr. Liu detailed the challenges the Company faced during the R&D phase, including integrating AI computing power, storage, and sensors into earbuds with limited space while maintaining portability and battery life. He also highlighted the difficulty of balancing human auditory sensitivity with machine signal processing to ensure a natural user experience. To tackle these challenges, viaim employed multi-terminal collaboration, integrating earbuds, apps, and cloud services to ensure seamless voice processing and secure data management tailored to the needs of North American professionals.

Market potential, insights, and positioning in North America

A report from Upwork, the world’s largest work marketplace, projects 36.2 million Americans will work remotely in 2025, marking an 87% increase from pre-pandemic levels. AI-powered earbuds, with capabilities including meeting recording and follow-up task management, cater to the digitalized and multilingual North American market. As remote and hybrid work rises, AI earbuds are becoming vital for workplace efficiency and language learning. viaim stands out with a competitive strategy focused on technological innovation and market segmentation, offering unique value beyond traditional earbud brands.

Future strategy and product vision

Mr. Liu believes technology’s true value lies in solving real-world problems. “When users actively engage with our AI solutions, it demonstrates their true value,” he stated. AI earbuds remain the Company’s core focus, empowering professionals to shift their attention from routine tasks to meaningful creative endeavors. Looking ahead, viaim plans to expand its product lineup to include smart glasses and office accessories, creating a comprehensive AI office ecosystem. The Company aims to rapidly iterate based on user feedback, expanding AI earbuds from niche to mass markets and advancing industry development.

Media Contact: 

Qian Wang
+86-15321782927
wangqian@vision-intelligence.tech

View original content to download multimedia:https://www.prnewswire.com/news-releases/ai-powered-earbuds-transforming-north-american-smart-offices-exclusive-insights-from-viaim-cpo-at-ces-2025-302347888.html

SOURCE VIAIM

Continue Reading

Technology

Steller Unveils Group Trip Planning

Published

on

By

KIRKLAND, Wash., Jan. 10, 2025 /PRNewswire/ — Steller, a video-based, travel planning platform that allows travelers to discover, connect and book based on experiences shared by creators, introduced its most requested feature yet: group trip collaboration. The feature transforms how travelers plan group trips by consolidating everything—discovery, communication, organized planning, and booking—into one platform. 

Steller launches group trip planning, streamlining discovery, communication, and booking into one collaborative platform.

Traditional Trip planning involves multiple surfaces and when traveling with others, multiple communication channels. It is difficult to stay organized when communication is spread across text messages, social DMs, email, etc.  

Steller’s new collaboration feature eliminates communication chaos and streamlines trip planning by offering a central group hub for organizing every piece of the process. Travelers can invite others to join their Trip itinerary, keeping communication, discovery, and booking in one place. With Steller’s library of more than 30 million pieces of user generated travel content, groups can share videos of activities, dining spots, attractions, add notes, and co-create custom itineraries. Flexible itinerary views—list, map, and video—give everyone a complete picture of the plan to share and edit with their travel companions.

“Collaborative trip planning has been a top request from our community.  When we launched Trips by Steller   last January, we knew it would resonate, but the response has far exceeded expectations. In a short time, over 50,000 users have planned and booked trips by incorporating their favorite user-generated travel videos into personalized itineraries. For our destination clients,  Trips by Steller has seamlessly connected travel influencer marketing to planning and commerce. Steller clients see more than 18% of viewers who engage with their influencer campaigns planning trips to their destination—a result that sets a high bar in the travel industry. Adding collaboration to the mix amplifies that impact, inspiring more people to explore, engage and transact together!” said Pete Bryant, CEO of Steller. 

How It Works  

Whether it’s a getaway for two or a large group adventure, collaboration makes organizing travel plans easy with an all-in-one solution. 

Build Your Itinerary Together: Group members can contribute by adding things to do, activities, and notes.Stay Organized: Add notes and structure by day, activity, or group to eliminate confusion.Flexible Views: View your itinerary as a detailed list, on a map, or through video for a fully customizable planning experience.Real-Time Updates: Keep track of changes, additions, and edits made by group members.On-the-Go Access: Everyone can access the itinerary on their phone.

Steller continues to lead the charge in innovative travel planning, ensuring that its platform evolves based on user feedback. Collaborative trip planning is the latest step in its mission to evolve travel. 

About Steller 

Steller, headquartered in Kirkland, Wash., is the market leading travel planning platform that guides travelers from inspiration to planning and booking through authentic experiences of their favorite creators. Steller’s patent pending platform distributes millions of pieces of bespoke, worldwide video content that can be found and booked on the Steller app. Learn more at www.steller.co  and  stellerforbusiness.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/steller-unveils-group-trip-planning-302347630.html

SOURCE Steller

Continue Reading

Technology

RAAPID Raises Series A from M12, Microsoft’s Venture Fund to Scale Next-Generation Healthcare Risk Adjustment

Published

on

By

Company reports 300% revenue growth in 2024 and advances partnerships with nation’s leading health systems

LOUISVILLE, Ky., Jan. 10, 2025 /PRNewswire/ — RAAPID, the industry-leading healthcare AI company, announced today a significant Series A investment from M12, Microsoft’s venture fund. This strategic funding positions RAAPID to expand its groundbreaking Neuro-symbolic AI platform that is reshaping healthcare risk adjustment.

RAAPID’s explosive growth – marked by a 300% revenue increase in 2024 – demonstrates the market’s strong validation of its advanced technology platform. The company has quickly established itself as a trusted partner for major health plans and provider., At the core of RAAPID’s success is its pioneering VisionAI technology, which tackles one of healthcare’s most pressing challenges: making sense of unstructured medical data. While over 70% of medical records exist as unstructured data when shared outside EHRs, RAAPID’s AI engine transforms this complex information into actionable insights, enabling unprecedented accuracy in risk capture and care gap identification.

“Our vision extends beyond traditional risk adjustment,” states Chetan Parikh, Founder and CEO of RAAPID. “We’re creating a future where AI augments healthcare professionals’ capabilities, leading to better patient outcomes and more accurate appropriate reimbursements. This investment from M12 accelerates our mission to transform healthcare through advanced AI.”

RAAPID’s purpose-built Risk Adjustment platform has achieved remarkable results:

Slashing chart review time by 60-80%Surpassing industry standards with 95%+ coding accuracyGenerating additional appropriate and compliant revenue per memberImproving risk capture accuracy by 25%

The HITRUST-certified platform stands out for its unique Neuro-symbolic AI approach, combining neural networks with an extensive medical knowledge graph containing over 4 million clinical entities and 50 million relationships. This sophisticated technology enables both retrospective analysis and prospective risk adjustment, helping organizations identify and address care gaps to positively impact patient health.

“Healthcare organizations are increasingly seeking innovative solutions to manage risk and improve care delivery in value-based arrangements,” said Todd Graham, Managing Partner at M12. “RAAPID’s AI-driven risk adjustment platform aligns perfectly with our investment strategy. Through M12, we are committed to providing our portfolio companies with access to Microsoft’s resources and expertise to drive significant impact in the healthcare sector.

Led by a team with over 25 years of healthcare technology expertise, RAAPID has collaborated with experts from the top 4 tech giants in developing its clinical AI solutions. RAAPID continues to push the safe boundaries of what’s possible in healthcare AI. The company’s selection as an M12 portfolio company validates its position as a leader in healthcare technology innovation.

As value-based care becomes increasingly important, RAAPID’s AI-powered solutions are becoming essential tools for healthcare organizations striving to improve timeliness and quality of care all patients expect. With this new funding, RAAPID is poised to further advance its technology and expand its positive impact on patients, providers and payers.

About RAAPID
RAAPID develops AI-powered solutions for healthcare payers, providers, and supporting organizations. The company’s cloud-based risk adjustment platform uses neuro-symbolic AI to identify chronic conditions, determine HCC codes, calculate risk scores, and analyze population health trends. RAAPID serves organizations that participate in Medicare Advantage, ACA, Medicare ACO, and Medicaid programs.

For more information about RAAPID’s AI-powered risk adjustment solutions, visit www.raapidinc.com

CONTACT:
Mayur Vyas
(502) 699-3044
388583@email4pr.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/raapid-raises-series-a-from-m12-microsofts-venture-fund-to-scale-next-generation-healthcare-risk-adjustment-302348014.html

SOURCE RAAPID

Continue Reading

Trending