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Smart Bathrooms Market 2017 to 2023 | Business Analysis and Evolutionary Growth

06-10-2019 05:27 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Smart Bathrooms Market 2017 to 2023 | Business Analysis

smart bathrooms market garnered $1.37 billion in 2017 and would generate $2.52 billion by 2023, growing a CAGR of 10.7% from 2017 to 2023. The report offers a detailed analysis of the top investment pockets, drivers & restraints, key market segments, major segments, and competitive landscape.

Rise in investments to develop smart homes, an increase in the development of non-residential infrastructure, and surge in awareness regarding water & energy conservation and hygiene drive the growth in the market. In addition, demand luxurious and state-of-the-art home products with rising in consumer disposable income supplements the growth. However, expensive installation & maintenance restrain the market growth. On the other hand, technological advancements and increase in urbanization are expected to present new opportunities for market players in the future.

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The hand dryers segment accounted for the largest market share in 2017, holding more than one-fourth of the total share, and is expected to continue its dominance by 2023. This is due to its advanced features that enable the saving of energy costs and elimination of bacteria from the hands. However, the touchless faucets segment would grow at the largest CAGR of 11.9% during the forecast period, owing to precautions taken with rise in concerns related to health hygiene, especially in the commercial buildings. The report analyzes segments including smart windows, touchless soap dispensers, touchless cisterns, smart toilets, and others.

Asia-Pacific would witness the fastest CAGR of 12% during the forecast period, 2017–2023. This is due to rise in awareness and government support to health & hygiene in the region and surge in adoption in offices, restaurants, and hotels. However, North America region accounted for the highest market share in 2017, contributing more than one-third of the total share, owing to surge in technologically advanced products including smart toilets, hand dryers, and touchless soap dispensers and surge in concerns regarding high water consumption.

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The leading market players analyzed in the report include American Standard Brands, Delta Faucet Company, Cera Sanitaryware Ltd., Kohler, Jacuzzi, Cleveland Faucet Group (MOEN), Bradley Corporation, Jaquar, Grohe, Roca Sanitario, Novellini, Pfister (Spectrum Brands), Toto Ltd., and Sloan Valve.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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