As per Market Research Future (MRFR), the global smart bathroom market was valued
at USD 5.92 billion in 2017 and is expected to reach USD 10.93 billion by 2023 at a CAGR
of 10.74% from 2017 to 2023 (forecast period). The research report offers a
succinct analysis of the influence of COVID-19 on current/future market
situations. The report identifies some of the key market factors that will
influence the growth of this sector, such as market share, major regions, and
key players.
Smart bathrooms are equipped with automated plumbing and
sanitary ware that can be operated through smartphones or other smart devices
using the Internet.
Market Dynamics
With the introduction of the Internet of Things and
increasing demand for automation, the smart bathroom market is predicted to grow
exponentially over the forecast period. The introduction of hi-tech toilets and
soaking tubs has had a positive effect on the smart bathroom industry's growth.
In addition, the rise in the popularity of digital faucets is anticipated to
propel the growth of the smart bathroom industry. Giants such as Kohler, LIXIL,
and TOTO, among others, come up with a spectrum of smart bathroom products and
accessories to make the bathrooms smarter.
Key Players
The industry giants in the global smart bathroom market are
Roca Sanitario SA (Spain), Toto Ltd (Japan), Kohler Co. (US), LIXIL Group
Corporation (Japan), Duravit AG (Germany), Bradley Corporation (US), Fortune
Brands (Canada), and Masco Corporation (China).
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Market Segmentation
·
Based on
end-users, the global smart bathroom market has been bifurcated into
commercial and end-users. The commercial segment held the largest market share
in 2017, with a market value of USD 4,883.45 million; it is expected to post a
significant CAGR over the forecast period.
·
By product
type, the global smart bathroom market has been segmented as
hi-tech toilets, soaking tubs, digital faucets, and others (including smart
windows and smart mirrors). The hi-tech toilets held the largest market share
in 2016; it is expected to post the highest CAGR during the forecast period.
Soaking tubs are the second-largest segment by product type.
·
Based on
connectivity, the global smart bathroom market has been segmented as
Bluetooth, Wi-Fi, and 3G. The Bluetooth segment accounted for the largest
market share in 2016. Wi-Fi is the second-largest segment, and it is expected
to post the highest CAGR during the forecast period owing to its ease and
flexible characteristics.
Regional Analysis
Europe accounted for the most considerable market value of
USD 2.42 billion in 2017; however, Asia Pacific is expected to register a CAGR
of 12.13% during the forecast period.
Europe is leading the smart bathroom market due to the high
rate of adoption of smart bathroom devices such as high-tech toilets, soaking
tubs, and digital faucets in the region.
Asia Pacific is the fastest-growing region, accounting for a
large share of the overall market, with major contributions from countries such
as Japan, India, and China, due to the growth of the construction industry and
rising government spending in rural and urban infrastructure equipped with
advanced technologies in the region.
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TABLE OF CONTENTS:
1.
Market Introduction
2.
Research Methodology
3.
Market Dynamics
4.
Executive Summary
5.
Market Factor Analysis
6.
Smart Bathroom Market,
By Segments
7.
Competitive Analysis
Continued…
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