Press release
Smart Bathrooms Market Insights with Statistics and Growth Prediction 2017 to 2023
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 market growth. On the other hand, technological advancements and an 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 rising 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 a 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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