The smart bathroom market is not just growing; it is accelerating. Major factors driving the growth of smart bathroom market is the increasing concern regarding energy conservation and hygiene maintenance. Also growing urbanization and increasing population is expected to drive the growth of global smart bathroom market.
Roca Sanitario S.A., Toto Ltd., Kohler Co., LIXIL Group, Duravit AG, and Bradley Corporation are a few major players in the global smart bathroom market. Increasing adoption of smart bathrooms across residential as well as commercial is fuelling the market growth. This is owing to the increase in demand for qualitative and personalized web experiences for the users.
The product type segment comprises of hi-tech toilets, soaking tubs, digital faucets, and others. However, hi-tech toilets sub-segment is expected to hold the largest market share of the global smart bathroom market. The growth of hi-tech toilets is followed by soaking tubs and is expected to grow by 10.34% CAGR. The changing consumer behavior regarding luxury lifestyle is one of the major factors propelling the market growth, especially in Europe region.
The North America region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The U.S. and Canada are dominating the North America market due to rising technological enhancements and growing adoption of Smart Bathroom solutions in the region. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of Smart Bathroom solutions across different industry verticals such as BFSI, healthcare, manufacturing among others is another major factor driving the growth of the smart bathroom market in the region.
The global Smart Bathroom Market is expected moderately over the forecast period. Some of the protuberant drivers supporting the growth of global smart bathroom market are identified as, concern regarding energy conservation & hygiene maintenance, growing population & urbanization, and increasing aging population. However, the high cost of implementation and dominance of traditional bathrooms are some of the restraining factors for the smart bathroom market.
The global smart bathroom market is expected to grow at a CAGR of approximately 11% during the forecast period 2017-2023.
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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)
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.
- 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.
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.
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- Government Bodies
- Consulting Service Providers
- Technology Providers
- System Integrators
- Service Providers
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