Smart bathroom market is estimated to exhibit high growth potential during the forecast period owing to increasing demand for smart bathroom applications across various industry verticals. Additionally, innovations and advancements in technology and increasing market for smart bathrooms owing to the increasing concern regarding energy conservation is adding fuel to the growth of the smart bathroom market.
The global smart bathroom market is segmented by product type, connectivity, and end user. The end user segment is classified into residential and commercial. The demand for smart bathrooms is expected to increase in the commercial sector. It is expected that new players enter the smart bathrooms market owing to the growing demand from the end use industries. Commercial sector is the largest segment for consumption of smart bathrooms. In addition to this, hospitals and public sector are also adopting the smart bathroom accessories, and it is expected to grow at high annual growth rate. Additionally, with advancement in smart technologies, the market for smart bathrooms will continue to rise. However, the lack of awareness regarding the smart bathrooms and high costs are major factors that could cause hindrance in the growth of global smart bathroom market.
The global Smart Bathroom Market is expected to grow at a CAGR of approximately 11% during the forecast period 2017-2023.
Major Key Players:
• Roca Sanitario S.A. (Spain)
• Toto Ltd. (Japan)
• Kohler Co. (U.S.)
• LIXIL Group (Japan)
• Duravit AG (Germany)
• Bradley Corporation (U.S.)
• Fortune Brands (Canada)
• Masco Corporation (China)
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The global smart bathroom market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period.
The growth of the market in North America is attributed to technological advancements and increased adoption of smart bathrooms applications across various end users such as residential and commercial.
The global smart bathroom market is segmented by product type, connectivity, and end user. Based on the product type, the market is segmented into Hi-tech toilets, soaking tubs, digital faucets, and others.
Based on the connectivity, the market is segmented into Wi-Fi, Bluetooth, and 3G. Whereas, based on the end user, the market is segmented into residential and commercial.
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• By product type, hi-tech toilets are expected to hold the largest share of the smart bathroom market and is expected to grow at 12.12% CAGR.
• By connectivity, Bluetooth sub-segment leads with a 10.44% CAGR.
• By end user, commercial sub-segment accounted for the largest share of the smart bathroom market and is expected to grow at 10.67% CAGR.
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• Technology Investors
• Research/Consultancy Firms
• Government Bodies
• Consulting Service Providers
• Technology Providers
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