Smart Bathrooms Market 2023 : Focus on By Type and Users - Projected to Grow at a CAGR of 10.7%

Significant increase in the adoption of smart bathroom accessories among the consumers lead to growth in popularity of the smart bathrooms market. With the aim to build energy efficient buildings, conserve water, and ensure maximum health hygiene, commercial and residential sectors significantly contribute to the demand for the smart bathrooms market.

North America accounts for a dominant market share of 36% in the global smart bathrooms market in 2016, owing to its widespread application in the existing commercial sectors. However, Asia-Pacific is expected to exhibit the fastest growth rate of 12% during the forecast period owing to the increase in commercial infrastructural investments, growth in disposable income of the consumers, and the rise in desire for smart and energy efficient residential homes. Moreover, increase in rate of migration from rural areas and urbanization are expected to foster the growth of commercial and residential sectors, thereby propelling the growth of the smart bathrooms market.

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Among the various types of smart bathroom accessories, hand dryers segment held a major share of 26.9% in 2016 and is expected to continue being the market leader. Touchless faucets gain an increase in application among the consumers due to maximum assurance of hygiene. The touchless faucets market is expected to grow at a CAGR of 11.9% during the forecast period.

Commercial application of smart bathrooms is estimated to have the highest market share of 58.4% in 2016 and is expected to continue dominating the global market during the forecast period. However, residential sector is expected to witness the fastest growth of 11.2% attributed to the increase in population and urbanization.

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The global smart bathrooms market is estimated to account for a market revenue of $1,230.29 million in 2016 and is expected to reach to $2,517.82 million in 2023, thereby registering a CAGR of 10.7% from 2017 to 2023.

The key players operating in the global smart bathrooms market are Toto Ltd., Jacuzzi, Roca Sanitario, Novellini, Kohler, American Standard Brands, Cleveland Faucet Group(MOEN), Grohe, Jaquar, Cera Sanitaryware Ltd., Sloan Valve, Pfister (Spectrum Brands), Delta Faucet Company, and Bradley Corporation.

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Key Benefits :

The study provides an in-depth analysis of the global smart bathrooms industry and current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restrains, and opportunities is provided.
Porter’s Five Forces analysis illustrates the potency of buyers & suppliers operating in the industry.
The quantitative analysis of the global smart bathrooms market from 2017 to 2023 is provided to determine the market potential.

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