Smart Toilet Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global smart toilet market size is expected to reach USD
12.7 billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 10.3% over the forecast period. Rising consumer
awareness regarding cleanliness and maintaining proper hygiene at the global
level is expected to promote the utility of smart toilet. Additionally,
shifting preference towards smart homes in the urban cities due to increasing
importance of proper sanitation and offering convenience to the buyers is
expected to increase spending on the installation of new smart toilets in the
residential and commercial sectors.
The
governments of different countries including U.S., Germany, France, China, and
India have been implementing numerous initiatives to increase awareness
regarding the importance of saving water at the global level. As a result, smart
toilets are expected to optimize the water flow and thus, likely to gain
importance over the next few years.
The
commercial segment generated a revenue of USD 4.6 billion in 2018. These types
of smart products are majorly installed in hotels, restaurants, shopping malls,
and bars as consumers perceive them as the luxury products. Furthermore,
increasing spending on real estate investment in the commercial sector of
countries including China, India, Brazil, and Mexico is a key factor driving
the segment. Supportive government policies aimed at infrastructure development
are expected to expand the scope for smart toilet vanities as luxury products
over the next few years.
The offline
channels generated a revenue of USD 5.3 billion in 2018. Consumers prefer these
channels as they provide a choice of physical verification, prior to any
purchasing decision. Additionally, these brick and mortar stores offer
installation as well as aftersales services, which encourage the buyers to use
these channels.
Asia Pacific
is expected to be the fastest growing region with a CAGR of 12.8% from 2019 to
2025. Key countries contributing to the growth of the smart toilet market are
China, Japan, India, Australia, and Singapore. It has been observed that sale
of the smart toilet is increasing due to factors including rise in disposable
income of the middle class population and increasing number of smart houses in
the urban cities of the aforementioned countries. Furthermore, growing consumer
spending on bathroom hygiene and sanitation is expected to expand the market
scope in the upcoming years.
Some of the
key smart toilet manufacturers are Kohler Co.; Toto Ltd.; Roca Sanitario SA;
LIXIL Group Corporation; Duravit AG; Wellis; Masco Corporation; Bradley
Corporation; Fortune Brands; and Villeroy & Boch AG. Companies are
investing in product innovations to expand their customer base. For instance,
in December 2016, “Somany Ceramics Ltd.” has launched a range of smart toilets
with automatic flash system.
Further key
findings from the report suggest:
- The residential
application segment is expected to expand at the fastest CAGR of 10.7%
from 2019 to 2025 as a result of increasing number of smart homes in the
urban cities of key markets including U.S. and China
- The offline
segment generated a revenue of USD 5.3 billion in 2018. Online channel is
the fastest growing segment with a CAGR of 10.8% from 2019 to 2025 due to
its doorstep delivery services
- Europe was the
largest regional market with a revenue of USD 2.4 billion in 2018
- New product
launch is expected to remain a key strategy among the market participants
over the next few years.
Access
full research report on global smart toilet market:
www.grandviewresearch.com/industry-analysis/smart-toilet-market
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Created on Dec 12th 2019 06:05. Viewed 324 times.