Smart Bathrooms Market New Investment Opportunities Emerge to Augment Segments in Sector by 2030 – Materials Handling – Materials Handling
Global Smart Bathrooms Market was valued US$ 1.5 Bn in 2017 and is expected to reach US$ 3.2 Bn by 2026, at a CAGR of 9.93 % during a forecast period.
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The smart bathroom is an arrangement of ceramic toilet with supreme material and advanced features such as warm water and air drying among others. Bathroom forms vital part of oneâ€™s life. Sanitary products have become a lifestyle statement in various developed and developing countries in the globe.
Growing awareness concerning health hygiene, water, and energy preservation among the consumers, is expected to boost the growth of the global smart bathrooms industry during the forecast period. The enlarged usage of automatic hand dryers and touch less soap dispensers contributes to the growth in demand for smart bathrooms market. Increasing recognition of hygienic and comfortable smart toilet coupled with continuous technological advancement in hygiene is predicted to enhance the market growth scenario during the forecast year.
Rise in disposable income, changing modern lifestyle and increase in investments in building smart and energy efficient homes infrastructures are also expected to drive the growth of the global smart bathrooms market. Increase in prominence on energy and water conservation marks in traction of smart bathrooms among the consumers is booming smart bathroom market. Furthermore, High initial cost is limiting the growth of the global smart bathrooms market.
Continuous advancement in technology, the bathroom fixture key players shift their focus from conventional bathroom accessories to sensor enabled bathroom accessories.
Increase in necessitate for energy efficient buildings, the global smart bathrooms market witnesses a major traction in the commercial and residential sectors. Commercial application segment is projected to grow at high rate of CAGR during forecast period. Commercial sectors include entertainment malls, restaurants, hotel rooms, educational institutions, corporate offices, conference or seminar rooms, and others. Growing Demand smart bathroom accessories by this means ensuring energy conservation and hygiene maintenance.
The report analyzes factors affecting market from demand and supply side and further evaluates market dynamics during the forecast period. Wi-Fi is expected to increase significant market demand during forecast period owing to its ease of use and flexibility.
The report provides a detailed overview of the global smart washroom market including regional analysis information. Europe is estimated to dominate the global smart bathroom market owing to the high espousal rate of smart bathroom devices such as high-tech toilets, soaking tubs and digital faucets in this region. Germany is the foremost economy in the market and has generated the high market share of US $ 760.82 million in 2017. Furthermore, Asia-Pacific is expected to dominate the large market share in the smart bathrooms market. The growth can be attributed to major contribution is witnessed from countries like Japan, India, and China owing to developing construction infrastructure and growing investment by government to build rural and urban infrastructure equipped with superior technologies in this region. High growth in urban and aging population is fueling the adoption of smart bathrooms owing to the expediency.
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The report provides key information on the market status of the leading market players. Some of the major key players includes in the global smart bathrooms market such as American Standard Brands, Cleveland Faucet Group(MOEN), Grohe, Jaquar, Cera Sanitaryware Ltd., Sloan Valve, Pfister (Spectrum Brands), Toto Ltd., Jacuzzi, Roca Sanitario, Novellini, Kohler, Delta Faucet Company, …….