Mirakhl has multiple potential business opportunities in multiple industries.
Mirakhl's CUDO is an IoT enabled device, a very competitive product in the fast growing Smart Home as well as Connected Living market. Mirakhl's technologies are targeting emerging organic and healthy food growing business. Mirakhl's offering potent supplement for natural supplement industry. Mirakhl is the pioneer of hydroculture, providing advanced hydroponic cultivators along with its intellectual property - the nutrient solutions.
Revenue in the "Smart Home" market amounts to mUSD 9,712.5 in 2016, with an annual growth rate (CAGR 2016-2020) of 21.05% resulting in a market volume of mUSD 20,856.5 in 2020. Household penetration is at 5.82% in 2016 and is expected to hit 18.62% in 2020.
The average revenue per Smart Home currently amounts to USD 1,317.46. From a global comparison perspective it is shown that most revenue is generated in the United States ($9,712.5M in 2016).
The US organic food market is expected to grow CAGR (Compound Annual Growth Rate) 14% within 5 years. Such rate is higher in Asia-Pacific countries.
In US, the supplement market is expected to show a CAGR between 6% and 7%. In some European countries, supplement market will grow collectively 7.6% until year 2020. Higher growth rate will be observed in Asia-Pacific countries. The US vitamin and mineral supplement market is $20B, $8B for Japan, and $2B for China.
According to the IMF report, the growth in the hydroponics food Industry set to outpace global markets by 80%. The market size is $700M. Mirakhl is definitely becoming a player in this industry where there is still no market dominance.
Mirakhl has established multiple strategic partnerships with farms, restaurants and retailers, in Korea and Japan.
Mirakhl also sees China as a huge market: China has a huge potential market for garlic sprouts and the derived products, as China produces 79.02% of the garlic worldwide.
Mirakhl believes the US and European markets have tremendous opportunities for hydroponic technologies and also garlic supplement products.