As per Market Research Future (MRFR), the global Smart Bathroom Market was valued at USD 4483.7million in 2020 and is expected to reach USD 9201.6 million by 2027 at a CAGR of 12.56% from 2021 to 2027 (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.
The global Smart
Bathroom Market is expected to grow steadily during the forecast
period. The growth can be primarily attributed to the increasing focus on
energy consumption and hygiene maintenance, increasing population and rapid urbanization,
and the growing trend of adopting smart bathrooms. Moreover, the rising
awareness of sanitization in the rural sector is Expected to create
opportunities for market players during the forecast period. However, a high
cost of implementation and dominance of traditional bathrooms over smart
bathrooms is expected to restrain the growth of the global market during the
forecast period.
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 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.
Market Segmentation
The global Smart Bathroom Market Analysis has been segmented
into end-users, product type, and connectivity.
Based on end-users, the global Smart Bathroom Technology 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
By region, the global smart bathroom market has been segmented
into Asia Pacific, North America, Europe, and the rest of the world.
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. In addition, high growth in urban and
aging populations is fueling the adoption of smart bathrooms due to the comfort
they offer. Germany is the leading market and has generated the highest revenue
in 2017 and is projected to be the fastest-growing country in Europe during the
forecast period.
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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