Smart Bathroom Market Projected to Touch USD 9201.6 Million by 2027 at 12.56% CAGR – Report by Market Research Future (MRFR) – Yahoo Finance
Market Research Future
Sub Head: Increasing Construction of Smart Homes to Boost Smart Bathroom Market Growth
New York US, May 04, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Smart Bathroom Market” information by Product Type, by Connectivity, by End User and Region – Forecast to 2027” market size to reach USD 9201.6 million, growing at a compound annual growth rate of 12.56% by 2027.
The growing popularity of home improvement projects and bathroom renovations, especially in Western countries, is resulting in various smart bathrooms in both the residential & commercial sectors. Product demand is being driven by increased spending on home remodeling projects or renovations as a result of rising housing & mortgage prices.
Besides the different benefits that smart bathrooms offer such as increased energy efficiency, cost savings, control, convenience, and creation of a flexible environment for disabled & aging users are also boosting market growth.
Dominant Key Players on Smart Bathroom Market Covered are:
Get Free Sample PDF Brochure:
Market USP Exclusively Encompassed:
Increasing Construction of Smart Homes to Boost Market Growth
Increasing construction of smart homes will boost market growth over the forecast period. As smart houses turn more popular as a result of rising luxury lifestyles, smart bathrooms are becoming more common. Consumers are increasingly interested in bathrooms with faucets, toilets, built-in smart fittings, and soap dispensers that function on sensors to create a spa-like experience.
High Cost of Implementation to act as Market Restraint
The high price of implementation coupled with the lack of awareness regarding smart bathrooms may act as market restraints over the forecast period.
Constant Maintenance Requirement to act as Market Challenge
The constant need for maintenance may act as a market challenge over the forecast period.
Browse In-depth Market Research Report (135 Pages) on Smart Bathroom Market:
Segmentation of Market Covered in the Research:
The global smart bathroom market is bifurcated based on product type, connectivity, and end user.
By product type, hi-tech toilets will lead the market over the forecast period.
By connectivity, Bluetooth will dominate the market over the forecast period.
By end user, commercial will spearhead the market over the forecast period.
North America to Spearhead Smart Bathroom Market
North America possesses the highest share in the market for smart bathrooms. This region has a high level of awareness about smart toilets. This market has a high smartphone penetration rate. This region has a thriving telecommunications industry. As a result, the smart bathroom is becoming more popular. North America, in particular, has a significantly higher penetration of cloud infrastructure. During the projected period, the North American market is expected to develop significantly and occupy the greatest share of the market. Because of the presence of several established important companies such as Kohler Co. & Bradley Corporation, among others, the United States & Canada are expected to drive the smart bathroom market growth in North America. The market is expected to increase significantly in the near future as …….