Market Overview
According to MRFR Analysis, the size of the smart bathroom market is set to grow at a CAGR of 12.56% to hit USD 9201.6 million by 2027.
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.
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.
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Market Segmentation
The global smart bathroom market has been segmented into end-users, product type, and connectivity.
Based on end-users, the global smart bathroom market has been bifurcated into commercial and end-users.
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.
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).
The growth of the smart bathroom market is being driven by the rising adoption of smart homes, both in developing and developed countries. Smart homes are equipped with connected devices that can be controlled remotely, including smart bathroom appliances such as toilets, faucets, and showers. These devices offer a variety of features that can improve convenience, comfort, and energy efficiency. In addition, the growing awareness of the benefits of smart bathrooms is also contributing to the market growth. Smart bathrooms can help to save water and energy, and they can also provide a more personalized and luxurious experience.
The smart bathroom market is segmented by product type, application, and region. By product type, the market is segmented into toilets, faucets, showers, and others. Toilets are the largest segment, accounting for a market share of over 35% in 2022. This is due to the increasing demand for self-cleaning and self-deodorizing toilets, which are offered by many smart bathroom brands.
By application, the market is segmented into residential and commercial. The residential segment is the larger segment, accounting for a market share of over 80% in 2022. This is due to the increasing demand for smart bathrooms in homes, as homeowners seek to improve the convenience and comfort of their bathroom spaces.
The regional market analysis of the smart bathroom market includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for smart bathrooms, accounting for a market share of over 30% in 2022. This is due to the early adoption of smart home technologies in the region.
The Asia Pacific region is expected to be the fastest-growing market for smart bathrooms, with a CAGR of over 12% during the forecast period. This is due to the growing disposable income of consumers in the region, as well as the increasing demand for smart home technologies.
The report states that the rising adoption of smart homes is the key driver of the smart bathroom market. Smart homes are equipped with interconnected devices that can be controlled remotely, and this includes bathroom fixtures such as toilets, faucets, and showers. Smart bathroom products offer a variety of benefits over traditional products, such as energy and water savings, improved hygiene, and enhanced convenience.
Other factors driving the growth of the smart bathroom market include the increasing awareness of the benefits of smart home technologies, the growing disposable income of consumers, and the rising demand for sustainable products.
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Conclusion:
The smart bathroom market is rapidly expanding, bringing futuristic innovations into our daily lives. From comfort and convenience to energy efficiency and enhanced hygiene, these intelligent bathroom solutions offer a multitude of benefits. As technology continues to advance, we can expect even more exciting features and possibilities in the near future. Embracing smart bathrooms not only adds value to our homes but also enriches our lifestyle, making our everyday routines more enjoyable and efficient.
