Smart Bathroom Market Size In 2022 with Top Countries Data | What is the anticipated CAGR of the Industry in the forecast period, Forecast till 2030 – Designer Women – Designer Women

New York, United States – Smart bathroom market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the smart bathroom market by region.

The global smart bathroom market is expected to reach approximately USD 10.93 billion by 2023, growing at 10.74% CAGR from 2017 to 2023.

The digital economy affects the world’s trajectory and the societal well-being of common citizens. In addition, it influences everything from resource assignment to income allocation and economic growth. The adoption of the Internet of Things is pushing significant market growth. Additionally, in 5-10 years, the latest technologies such as robotics, AI, and augmented reality can illustrate around 27% of ICT spending. Consumer demand for access to content and products at any time and from any location is propelling the ICT market forward. The ICT sector is lucrative for vendors since it has about 7 billion mobile subscribers and 3 billion Internet, users.

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Introduction
With the advent of advanced technologies such as Internet of Things and growing demand for automation, the market smart bathroom is anticipated to witness significant growth during the forecast period. Introduction of hi-tech toilets and soaking tubs is believed to have 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 smart bathroom market. Giants like Kohler, LIXIL, and TOTO among others are coming up with various smart bathroom products and accessories in order to make the bathrooms smarter.
The global smart bathroom market is expected to reach approximately USD 10.93 billion by 2023, growing at 10.74% CAGR from 2017 to 2023.
The market has been divided into various segments based on product type, connectivity, end-user, and region.

By product type, the market is segmented into hi-tech toilets, soaking tubs, digital faucets, and others. The hi-tech toilets accounted for the largest market share valued at USD 2,806.30 million in 2017. The segment is anticipated to grow at CAGR of 12.12% during the forecast period to reach USD 5,576.01 million by 2023. Soaking tubs constitute the second largest segment by product type and are expected to grow at a CAGR of 10.34% during the forecast period 2017-2023.

By connectivity, the market is segmented as Bluetooth, Wi-Fi, and 3G. According to MRFR analysis, Bluetooth is the prime connectivity method used to connect smart bathroom accessory components and generated USD 3,761.25 million in 2017 which is estimated to grow at a 10.44% CAGR in the forecast period. Whereas, Wi-Fi is expected to gain substantial market demand in the coming years due to its ease of use and flexibility and is projected to grow at a 12.06% CAGR during the forecast period 2017-2023.

By end-users, the market is segmented into commercial and residential segments. The commercial sector is estimated to be the prominent end-user segment for smart bathrooms. Commercial sector accounted for the largest market in 2017, with a market value of USD 4,883.45 million which is projected to grow at CAGR of 10.67% during the forecast period. Whereas, the residential segment is expected to grow at a 11.08% CAGR during the forecast period 2017-2023.

Key Players
The key players of smart bathroom market …….

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