The smart bathroom market is anticipated to flourish at a CAGR of 11.2% over the forecast period i.e. 2020-2025. Further, the market for smart bathroom was valued at USD 6,564.7 Million in 2019. Smart bathrooms refer to sanitaryware which are operated through smartphones and other devices through internet. Smart bathroom products are equipped with advanced hardware. Also, smart bathroom products offer various advantages as compared to energy savings, better control and eco-friendly. Due to better functionality, consumers across the globe are investing in smart bathroom products.
Growth Drivers – Smart Bathroom Market
Rising Population of High Net Worth Individual
Significant growth in high net worth individual population across the globe is driving the growth of global smart bathroom product market. As per data released from International Monetary Fund (IMF), high net worth individual population witness a growth of 7.5% in 2016 and reached to 16.5 Million across the globe. Premium real estate builders are integrating smart products to provide more functionality. Also, HNWI population are investing in premium properties which is envisioned to bolster the growth of market in the years ahead.
Increasing Awareness Regarding Health & Hygiene
Growing awareness regarding health, and hygiene among individuals is anticipated to foster the growth of the market. Apart from this, smart bathroom products are environment friendly which is also to strengthen the growth of global market during the forecast period. Continuous technological advancements and innovation in the terms of design, functionality and others is also paving the way for the growth of global smart toilet market. Moreover, with advent of internet, demand for home automation and increasing smart homes, smart toilet market is believed to grow at exponential rate in the years ahead.
Barriers – Smart Bathroom Market
High Cost of Smart Bathroom Product
Factors such as high cost of installation of smart bathroom products is hindering the growth of global market. Moreover, continuous maintenance requirement is also acting as a barrier for market.
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The smart bathroom market by product type is segmented into smart toilets, touchless faucets, smart shower system, smart windows, and others. The market for smart toilet captured highest percentage in 2019. Moreover, it is anticipated to continue its dominance during the forecast period. Factors such as rising acceptance of hygienic and comfortable toilet is anticipated to foster the growth of smart toilet market.
Further, global smart bathroom market is also segmented by end user into residential and commercial. Commercial segment accounted for significant portion of the market. Smart bathroom products are being increasingly installed in various commercial places such as airports and malls.
Geographically, the report offers analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In Smart Bathroom market, Asia Pacific captured highest percentage of market share in global smart bathroom market. Growing utilization of smart toilet in hospitality sector is expected to intensify the growth of Asia Pacific smart bathroom market. Moreover, Asia Pacific market is likely to significant growth over the forecast period. Countries such as China and Japan are believed to contribute significantly to the growth of market in the years ahead.
The report profiles various major market players such as
- American Standard Brands
- Bradley Corporation
- Cera Sanitaryware Ltd.
- Cleveland Faucet Group
- Delta Faucet Company
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in Smart Bathroom market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Smart Bathroom market by the following segments:
- Product Type
- End User
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Smart Bathroom Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?