The Global Smart Bathroom Market is anticipated to expand at a robust CAGR of 11% during the forecast period, 2021-2028. The growth of the market is attributed to the increasing number of smart homes, particularly in developing, and developed countries across the globe.
Customers are looking for the bathrooms that offer spa-like experience and have fixtures that works on sensors. The adoption of smart bathrooms helps in providing water for shower at required temperature with the help of voice-assistance devices such as Amazon’s Alexa and Google Home. This bathroom further discloses the water consumption and showering time. The commodes in the bathroom are flushed automatically.
Smart Bathroom Market Segment Insights
Based on types, the market is segmented into smart toilets, smart faucets, shower systems, smart windows, and smart bathrooms. The smart toilets segment is expected to hold a major market share due to the large consumer demand for daily toiletry needs. Additionally, the increasing demand for mobility-assist smart toilets owing to rising geriatric population is propelling the growth of this market segment. The shower systems segment is anticipated to grow at a healthy rate during the forecast period. Some bathroom showers come with Bluetooth technology, which permits the user to play music, while some of the shower systems come with a television mounted on the wall so one can watch TV programs.
In terms of applications, the market is divided into commercial and residential. The commercial segment dominated the market in 2020, in terms of revenue. This is attributed to the rapid growth in the commercial real estate sector in emerging economies including China and India, as a result of supportive government policies for urban development. The commercial sector, which incorporates malls and shopping centers has been heavily investing into rebuilding activities to upgrade the consumer's experience. On the other hand, the residential segment is anticipated to grow at a robust rate during the forecast period. Rising disposable income and increasing awareness about smart bathrooms are encouraging people to invest in innovative smart bathrooms. Moreover, growing spending on renovation is positively influencing the residential and commercial segments.
Click For Free Sample Report – https://growthmarketreports.com/request-sample/257
Market Trends, Drivers, Restraints, and Opportunities
- Increasing number of populations moving to urban areas has led to change in lifestyle, which in turn, has encouraged the development of smart houses. Thus, such factor is anticipated to propel the market growth.
- Increasing number of home improvement projects and washroom re-designs, especially in developed nations is expected to positively influence the growth of the market.
- Rising disposable income and increasing inclination to building energy-proficient homes are expected to drive the development of the smart bathroom industry.
- High cost associated with installation and maintenance of smart bathrooms is expected to act as a potential restraint for the growth of the global smart bathroom market
- Increasing need for energy-efficient buildings in the commercial and residential sector is expected to stimulate the market growth.
About Growth Market Reports:
GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Contact:
Growth Market Reports
Phone: +1 909 414 1393
Email: sales@growthmarketreports.com
Web: https://growthmarketreports.com
Follow Us: LinkedIn | Twitter
0
