Smart Bathrooms Market Overview:
Sanitary ware is an essential lifestyle statement for the consumers in the recent years. With the technological advancement, the bathroom fixtures have witnessed a significant evolution in the last few years. Smart bathrooms have showcased an inclination in terms of demand generated by the Nonresidential and residential buildings especially in smart cities. Increase in emphasis on energy and water conservation marks a rise in traction of smart bathrooms among the consumers. Moreover, with the continuous advancement in technology, the bathroom fixture manufacturers shift their focus from conventional bathroom accessories to sensor enabled bathroom accessories. Smart bathroom market includes features such as touchless faucets, sensor enabled soap dispensers, automatic cistern systems, automatic hand dryers, and others. Smart bathroom market is expected to witness a significant growth among the Nonresidential and residential consumers owing to the need for maintaining hygiene and energy conservation. The global smart bathrooms market is estimated to account for a market revenue of $1,230.29 million in 2016 and is expected to reach to $2,517.82 million in 2023, thereby registering a CAGR of 10.7% from 2017 to 2023.
The growth in awareness regarding health hygiene, water, and energy preservation among the consumers, is expected to propel the growth of the global smart bathrooms industry during the forecast period (2017-2023). The increased usage of automatic hand dryers and touchless soap dispensers contributes to the growth in demand for smart bathrooms market in the recent years. Furthermore, the increase in applications of touchless faucets in Nonresidential buildings is expected to drive the demand for global smart bathrooms market. Another feature of smart bathrooms that is expected to fairly contribute to the growth of the global market is smart windows. Smart windows are installed in bathrooms to regulate the heat inflow and outflow to maintain adequate temperature in the bathroom. Besides, rise in disposable income, changes in consumer lifestyle and increase in investments in building smart and energy efficient homes are also expected to drive the growth of the global smart bathrooms industry during the forecast period. However, the high cost associated with installation and maintenance is expected to act as a potential restraint for the growth of global smart bathrooms market.
The key players operating in the global smart bathrooms market are Toto Ltd., Jacuzzi, Roca Sanitario, Novellini, Kohler, American Standard Brands, Cleveland Faucet Group(MOEN), Grohe, Jaquar, Cera Sanitaryware Ltd., Sloan Valve, Pfister (Spectrum Brands), Delta Faucet Company, and Bradley Corporation.
The smart bathrooms market is segmented on the basis of type, end-user industry, and geography. Based on type, the market is classified into smart windows, hand dryers, touchless cisterns, smart toilets, touchless soap dispenser, touchless faucets, and others. Based on the end-user industry, the market is divided into Nonresidential and residential. Based on region, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
Asia-Pacific is expected to exhibit lucrative growth opportunities in the smart bathrooms market thereby registering the highest growth, owing to the rise in infrastructural investments in Nonresidential real estate along with the increase in consumer preferences for energy efficient homes.
Top Impacting Factors
With the increase in need for energy efficient buildings, the global smart bathrooms market witnesses a significant traction in the Nonresidential and residential sectors. Nonresidential sectors such as entertainment malls, restaurants, hotel rooms, educational institutions, corporate offices, conference or seminar rooms, and others, demand smart bathroom accessories thereby ensuring energy conservation and hygiene maintenance. Thus, the increase in the number of these Nonresidential buildings is expected to catalyze the growth of the global smart bathrooms market during the forecast period. Moreover, the application of smart bathrooms is also noticed in residential sectors as a result of increase in consumer disposable income and noticeable investments in building energy efficient homes. With the growth in number of people migrating to urban areas, the willingness to adopt advanced facilities such as smart bathroom products and engage in bathroom remodeling to accentuate the aesthetic appeal of their homes is on an increase. This scenario is expected to catalyze the growth of the global smart bathrooms market during the forecast period.
However, installation of smart bathrooms incurs heavy investments, which is expected to pose a major challenge for the growth of the global smart bathrooms market.
Key Benefits :
- The study provides an in-depth analysis of the global smart bathrooms industry and current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities is provided.
- Porter’s Five Forces analysis illustrates the potency of buyers & suppliers operating in the industry.
- The quantitative analysis of the global smart bathrooms market from 2017 to 2023 is provided to determine the market potential.
Smart Bathrooms Market Key Segments:
- Smart Windows
- Hand Dryers
- Touchless Cisterns
- Smart Toilets
- Touchless Soap Dispenser
- Touchless Faucets
By End-User Industry
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- American Standard Brands
- Bradley Corporation
- Cera Sanitaryware Ltd
- Cleveland Faucet Group(MOEN)
- Delta Faucet Company
- Pfister (Spectrum Brands)
- Roca Sanitario
- Sloan Valve
- Toto Ltd