The expansion of the smart bathroom market is fueled by rise in consumer income and their desire to create smart and energy-efficient bathrooms. Furthermore, technology advancements and introduction of sensor-enabled systems, contribute in the smart bathroom market expansion. In addition, to save water, touchless faucets are being used owing to built-in smart sensors which turn off the tap automatically. However, high installation and maintenance costs, are projected to hinder the smart bathroom market growth.
Furthermore, various key players are focused on expanding its business by implementing strategic moves such as partnership, acquisition, and launching new &advanced bathroom products. For instance, in June2020, the Roca Sanitario launched L0 and L90 electronic faucets for bathroom basins. The water flow begins automatically when the presence of a user is recognized and it turns off when the sensor no longer detects it. These sensors faucets are an effective solution for preventing the transmission of viruses and germs while also conserving water at home.
The market is segmented on the basis of product type, sales channel, application, and region. By product, the market is classified into toilet, faucet, shower, and others. By sales channel, the market is divided into In store and online. By application, it is classified as residential and commercial.Region wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
COMPETITION ANALYSIS
The key players operating in the global smart bathroom market are Toto Ltd., Jacuzzi Brand LLC, Roca Sanitario, Kohler CO., Jaquar, Cera Sanitaryware Ltd., LIXIL Corporation, Pfister (Spectrum Brands), MASCO Corporation and Delta Faucet Company.KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging smart bathroom market trends and dynamics
- In-depth smart bathroom market analysis is conducted by constructing market estimations for key market segments between 2021 and 2030
- Extensive analysis of the smart bathroom market is conducted by following key product positioning and monitoring of top competitors within the market framework
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities
- The global smart bathroom market forecast analysis from 2021 to 2030 is included in the report
- The key players within smart bathroom market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the smart bathroom industry
GLOBAL SMART BATHROOMMARKET SEGMENTS
By PRODUCT TYPE
- Toilet
- Faucet
- Shower
- Others
By SALES CHANNEL
- In Store
- Online
By Application
- Residential
- Commercial
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- Toto Ltd
- Jacuzzi Brand LLC
- Roca Sanitario
- Kohler CO
- Jaquar
- Cera Sanitaryware Ltd
- LIXIL Corporation
- Pfister (Spectrum Brands)
- MASCO Corporation
- Delta Faucet Company
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
Executive Summary
According to a new report titled, “Smart Bathroom Market by Product Type, Sales Channel,and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”The global smart bathroom market size was valued at $3.7 billion in 2020, and is projected to reach $10.8 billion by 2030, registering a CAGR of 11.2% from 2021 to 2030. A number of businesses have modernized and rebranded themselves as smart industries as a result of Internet of Things (IoT) and the growth in user base of smart phones. The global market is one such market. The surge in trend of automation has propelled this industry forward. The increased popularity of high-tech toilets and digital faucets is likely to fuel the market's expansion in the coming years. Smart bathroom consist of smart windows, hand dryers, touchless faucets, and toilets. These systems aid in water and energy saving. Construction companies have substantially invested in the creation of smart buildings with amenities such as smart toilets to stimulate development.
The demand for smart bathroom has smart bathroom market growth in penetration of smart homes in both emerging and established countries throughout the world. Furthermore, the rise in home improvement projects and bathroom renovations, is paving the way for a variety of smart bathroom in both the residential and commercial sectors. Owing to rise in property and mortgage prices, more expenditure on home renovation projects or remodeling drives product demand. Furthermore, consumers have been showing interests in bathrooms with built-in smart fittings, smart toilets, faucets, and soap dispensers that operate on sensors to create a spa-like experience.
Smart toilets are equipped with extra features and sensors that allow them to perform a number of tasks other than just flushing. Smart toilets often use significantly less water than traditional toilets, in addition to providing a better bathroom experience. As a result, they are an excellent alternative for saving water and conserving energy. Key players are focusing on launching smart toilets for maintaining hygiene and saving water. For instance, in December 2020, TOTO Ltd. has launched RP Compact toilet series for small bathrooms. The RP series has powerful cyclone tornado flush and the CEFIONTECT glazing, which is extremely smooth, robust, and long-lasting.
The expansion of building sector in many countries has offered significant growth opportunity for smart bathroom market. For example, in November 2020, China's central government set a goal of completing 70% of new safe building construction by 2022. Similarly, in May 2019, the Indian government presented a $1.5 trillion construction investment plan for a six-year period ending in 2025. This investment will go toward improving school and higher education building quality, as well as health, sports, and basic infrastructure. Such government initiatives will act as a growth driver for market.
However, during the pandemic lockdown, various manufacturers in the market had to stop their business countries such as China, the U.S., and India. This break directly impacted sales of smart bathroom companies. In addition, lack of manpower and raw materials also constricted supply of equipment of smart bathroom has negatively influenced growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of smart bathroom companies.
Competition Analysis
The key players operating in the global smart bathroom market are Toto Ltd., Jacuzzi Brand LLC, Roca Sanitario, Kohler CO., Jaquar, Cera Sanitaryware Ltd., LIXIL Corporation, Pfister (Spectrum Brands), MASCO Corporation and Delta Faucet Company.
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging smart bathroom market trends and dynamics
- Depending on product type, the toilet segment dominated the smart bathroom market share, in terms of revenue in 2020 and faucet is projected to grow at a CAGR 133%during the forecast period
- By application, the commercial segment registered highest revenue in the market in 2020
- Asia-Pacific is projected to register the highest growth rate in the coming years
- The key players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the smart bathroom industry
- The report provides an extensive analysis of the trends and emerging opportunities of the market
Companies Mentioned
- Toto Ltd.
- Jacuzzi Brand LLC
- Roca Sanitario
- Kohler CO.
- Jaquar
- Cera Sanitaryware Ltd.
- LIXIL Corporation
- Pfister (Spectrum Brands)
- MASCO Corporation
- Delta Faucet Company.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 256 |
Published | February 2022 |
Forecast Period | 2020 - 2030 |
Estimated Market Value ( USD | $ 3764.13 million |
Forecasted Market Value ( USD | $ 10882.1 million |
Regions Covered | Global |
No. of Companies Mentioned | 10 |