ID: MRFR/SEM/3413-CR | July 2019 | Region: Bric | 111 pages
The Global Smart Bathroom Market is expected to register a 10.74% CAGR, witnessing substantial growth during the forecast period. The market was valued at USD 5.92 billion in 2017; it is expected to reach USD 10.93 billion by 2023. Europe accounted for the most considerable market value of USD 2.42 billion in 2017; however, Asia-Pacific is expected to register a CAGR of 12.13% during the forecast period.
With the advent of the Internet of Things and growing demand for automation, the smart bathroom market is anticipated to witness significant growth during the forecast period. Introduction of hi-tech toilets and soaking tubs has had a positive impact on the growth of smart bathroom market. Also, the increase in popularity of digital faucets is expected to drive the growth of the smart bathroom market. Giants like Kohler, LIXIL, and TOTO, among others, are coming up with various smart bathroom products and accessories to make the bathrooms smarter.
Global Smart Bathroom Market, by End-user (2017 Vs. 2023)
Source: MRFR Analysis
Based on end users, the market has been bifurcated into commercial and end users. The commercial segment accounted for the largest market share in 2017, with a market value of USD 4,883.45 million; it is expected to register the significant CAGR during the forecast period.
Based on product type, the market has been segmented as hi-tech toilets, soaking tubs, digital faucets, and others (including smart windows, and smart mirrors). The hi-tech toilets accounted for the largest market share in 2016; it is expected to register the highest CAGR during the forecast period. Soaking tubs are the second largest segment by product type.
Based on connectivity, the 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 register the highest CAGR during the forecast period due to its ease and flexible characteristics.
The global smart bathroom market, by region, has been segmented into Asia-Pacific, North America, Europe, and the rest of the world. Europe is expected to dominate the smart bathroom market during the forecast period due to the increasing demands in the smart technology, a government initiative to develop a network in rural areas, and deployment of high-tech toilets and soaking tubs in the healthcare sector.
The key players of 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).
Key questions addressed by the report
Frequently Asked Questions (FAQ) :
By product type, the segments covered for the study are hi-tech toilets, digital faucets, soaking tubs, and others.
The smart bathroom market, across the forecast period, is expected to register 10.74% CAGR.
The smart bathroom market is supposed to be valued at USD 10.93% CAGR over 2023.
The key players assessed in the share analysis are - Fortune Brands (Canada), Roca Sanitario SA (Spain), Kohler Co. (US), Toto Ltd (Japan), LIXIL Group Corporation (Japan), Bradley Corporation (US), Duravit AG (Germany), and Masco Corporation (China).
By connectivity, the segments assessed are Bluetooth, Wi-Fi, and 3G.
Europe is expected to lead the global smart bathroom market.
The Bluetooth segment held the maximum share in 2016 and is poised to contribute substantially to revenue generation through the assessment period.