Smart Toilet Market Subjected to Expand to Showcase Rampant Growth by 2023
Global Smart
Toilet market 2020 analysis’ is a specialized and in-depth study that
focuses on the global market trend analysis. Market Research Future finds and
states that the global Smart Toilet market can garner at 15.12% CAGR during the
forecast period of 2017–2023. The study also flashes over critical statistics
on the status of the leading market by focusing on key drivers, market players,
key trends, and opportunities for the future.
Top Impacting Factors
It has been observed that smart bathroom
products have become a style statement in developed nations such as the U.S.,
U.K., Germany, and France. Also, the industry participants are offering
innovative hygiene technologies such as auto flush, UV lighting, Bluetooth
connectivity, and auto open seat covers to offer better bathroom experience to
the consumers. All these factors have been compelling the market’s growth for
the forecast period.
Over the precedent
years, demand for water conservation has been escalating at the worldwide
level. Execution of assorted government initiatives in many countries on
spreading knowledge among consumers on requirement of water conservation is
motivating the people to increase spending on advanced products, including
smart toilets. Under the claim of a recent study, in the U.S., around 4.8
billion gallons of water are flushed every day.
Smart
toilets can use minimum water with intelligent toilet seats, making them a
hygienic and convenient option for buyers. These products can optimize the
water and electrical energy usage in toilets, along with providing an aesthetic
appeal. These factors have also been influential for the global smart toilet
market.
MRFR has also observed
in its study that smart toilets are loaded with distinct features such as UV
bacterial killing light nozzle and anti-bacterial seats. Furthermore, a strong
inclination towards bathroom decoration as a part of lavish home décor is
highly motivating people to purchase these products. In fact, the rising
utilization of smart toilets in the commercial real estate and hospitality
sectors is playing an essential role in escalating the product’s adoption, thus
compelling the market’s growth.
Segmentation
of Market: Smart Toilet
The global smart
toilet market is further segmented among various segments of type,
connectivity, usage, and distribution channel.
Among the type the
market has included close-coupled, wall hung toilet, one-piece toilet, single
floor standing toilet, and other.
Among the connectivity
segment, the market consists have included Bluetooth, Wi-Fi, and more.
The usage segment has
included residential and commercial.
Among the distribution
channel segment, the market has included online and offline.
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Regional Outlook
Europe led the market,
acquiring a share of exceeding 35.0% back in 2018. Escalating consumer spending
on maintaining bathroom hygiene is propelling the smart toilet market
expansion. A recent study portrays that a considerable number of population in
Germany and the U.K. prefers to install intelligent toilet seat so that they
don’t need to pull it by hand, which is unhygienic. In fact, the rising
consumers’ spending on health and hygiene products in the U.K., Germany, and
France is anticipated to remain a favorable factor for the industry growth in
the forthcoming years.
The
region of Asia Pacific is also estimated to be a high growing market, expanding
at a CAGR of 12.8% from 2019 to 2025. It has been pragmatic that the total
population of metro cities in the countries, as mentioned above, has augmented
in the last few years. In fact, the growing disposable income, coupled with a
boost in the population of critical cities of countries including India, China,
Bangladesh, and South Korea, is estimated to surge spending on bathroom
equipment and accessories, such as smart toilets.
Top Market
Contenders
The well-known players
in the global smart toilet market are listed as Toto Ltd, Kohler Co., Roca Sanitario
S.A, Villeroy & Boch, Duravit AG, GWA Group Limited, LIXIL Group
Corporation, Dongpeng Ceramic, Jomoo Group, and Huida Sanitary Ware Co.
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