Press release
Unveiling the Future: Global Smart Bathroom Market to Reach $7.2 Bn by 2028 || Pfister Company, LIXIL Group Corporation, MASCO Corporation, Kohler Co., Toto Ltd., Bio Bidet
Smart Bathroom Global Market Report 2024
The Business Research Company presents an extensive market research report on the Smart Bathroom Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The smart bathroom market size has grown strongly in recent years. It will grow from $4.56 billion in 2023 to $4.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to increased focus on home automation, rising awareness of water conservation, luxury and comfort expectations, aging population and accessibility, energy efficiency considerations.
The smart bathroom market size is expected to see strong growth in the next few years. It will grow to $7.2 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to health and wellness integration, customization and personalization trends, smart mirrors and interactive displays, environmental sustainability solutions. Major trends in the forecast period include health and wellness features, advanced hygiene solutions, enhanced security and privacy, augmented reality (AR) in design and planning, integration with smart home ecosystems.
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Key Market Players:
Major companies operating in the smart bathroom market report are Pfister Company, LIXIL Group Corporation, MASCO Corporation, Kohler Co, Toto Ltd., Bio Bidet, American Standard Brands LLC, Roca Sanitario SA, GROHE AG, Bradley Corporation, Jaquar Group Co Ltd., Villeroy & Boch AG, RAK Ceramics P.J.S.C, Duravit AG, Moen Incorporated, Delta Faucet Company, HSIL Limited, Cera Sanitaryware Limited, Sloan Valve Company, Symmons Industries Inc., Ove Decors, The Chicago Faucet Company, Jacuzzi Brands LLC, Kallista Co, Brondell Inc., Aquatica Plumbing Group, Aquamoon LLC, Novellini Spa, Colston Bath & Spa Pvt Ltd.
Market Drivers:
Rising demand for smart homes is driving towards the increase of smart bathroom market. The increasing disposable income leads to upgrading to a smart house that consists more innovative technologies with voice commands or internet connected technologies or Bluetooth connected technologies. For example, according to India Brand Equity Foundation, an Indian Government export promotion agency, by 2040 real-estate market will expand up to 65000 crores in India ($9.30 billion) from 12000 crores ($1.72 billion) in 2019. This leads to people buying their new homes every year. Whereas, in USA there is at least 118 million people using voice commands in home for a month. Hence the increasing demand for smart homes will drive the market for smart bathrooms.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/smart-bathroom-global-market-report
The smart bathroom market covered in this report is segmented -
1) By Product: Hi-Tech Toilets, Soaking Tubs, Digital Faucets, Other Products
2) By Connectivity: Bluetooth, Wi-Fi, 3G
3) By Distribution: Offline, Online
4) By Application: Commercial, Residential
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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