Smart Bathroom Market Size Is Projected to Reach USD 6.69 Billion by 2027 With Increasing CAGR of 10.5% | Grand View Research, Inc.

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According to a new report published by Grand View Research, the growing penetration of smart homes, particularly in developing as well as developed states across the globe, is driving the demand for smart bathrooms. In addition, increasing home improvement projects and bathroom renovations, particularly in western countries, are paving the way for different smart bathrooms for the residential as well as commercial sectors.

The global smart bathroom market size is anticipated to reach USD 6.69 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.5% from 2020 to 2027. Rising evolution of IoT owing to high internet penetration across countries and regions in developing a wider application of digital technology into various bathroom fittings and fixtures, thereby growing popularity of smart bathrooms. In addition, rising penetration of smart homes across regions is paving the way for smart bathrooms in these smart households.

Increasing smart home penetration across the developed nations of America and Europe is positively impacting the demand for the devices. According to the European Commission, Europe Smart Home revenue is expected to represent USD 19 billion by 2021 with the help of its massive markets in the U.K. and Germany. Additionally, the surge in home furnishing and fittings is expected to positively impact the growth of the market. According to the Leading Indicator of Remodeling Activity (LIRA), home improvement spending rose at 6% annually in 2019. Moreover, significant investment in lifestyle-enhancing projects compared to traditional necessary maintenance is seen rising among homeowners.

Moreover, the rising adoption of water-saving plumbing fixtures, which offer sustainable and eco-friendly features in remodeling or construction projects, is helping increase market penetration. The flow rate set by the national standards of the U.S. Energy Policy Act, 1992 set by the federal government for plumbing fixtures has led to water conservation and sustainability. This act also provides rebates to consumers who have replaced plumbing with low-flow alternatives. Thus, the rising need for low flow plumbing fixtures is expected to increase the inclination towards intelligent or smart bathroom fixtures.

In terms of product, the smart toilet held a dominant position in the market in 2019. High-tech or smart toilets are widely being used among households and commercial properties owing to various features incorporated in the fixture, such as hands-free flushing, heated seats, motion-activated seats, and built-in night lights.

The commercial application segment emerged as the largest application segment with a revenue-based share of 61.2% in 2019. According to a report published by TOPHOTELCONSTRUCTION, in 2018, Brazil had witnessed significant hotel construction in the country, thereby representing about 50% of the Central and South America’s construction pipeline. As of 2019, there were about 329 hotels with 57,735 rooms under construction, and new projects were scheduled to start construction in the next 12 months, which will include 207 hotels and 34,712 rooms, wherein 181 hotels with 31,357 rooms are in their early planning stage.

North America dominated the market with a revenue-based share of 40.2% in 2019. An increasing number of commercial buildings in the region owing to the growth of the tourism industry is expected to boost the demand for smart bathrooms.

 

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Smart Bathroom Market Report Highlights

The smart toilet product segment is expected to witness the fastest growth from 2020 to 2027
The commercial application segment was valued at USD 1.84 billion in 2019
Asia Pacific is expected to witness the highest growth over the forecast period with a revenue-based CAGR of 11.5% from 2020 to 2027.

 

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Smart Bathroom Market Segmentation

Grand View Research has segmented the global smart bathroom market by product, application, and region:

Smart Bathrooms Product Outlook (Revenue, USD Million, 2016 – 2027)

Toilet
Soap Dispenser
Faucet
Shower
Others

Smart Bathrooms Application Outlook (Revenue, USD Million, 2016 – 2027)

Residential
Commercial

Smart Bathrooms Regional Outlook (Revenue, USD Million, 2016 – 2027)

North America
The U.S.
Europe
Germany
The U.K.
Asia Pacific
China
India
Central & South America
Brazil
Middle East & Africa

List of Key Players of Smart Bathroom Market

American Standard Brands
Cera Sanitaryware Ltd.
Moen Incorporated
Lixil Group
Jacuzzi
Jaquar
Kohler Co.
Spectrum Brands
Roca Sanitario
Toto Ltd.

 

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About Grand View Research

 

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

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