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Smart Bathroom Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global smart bathroom products market is expected to reach USD 46.5 billion in 2030, growing at a CAGR of 8.3% from 2023 to 2030. Increasing technological advancements, such as the development of smart home systems and the rise of connected homes, are driving the adoption of these products. This is due to the convenience and added safety features offered by these products. The increasing demand for luxurious and modern bathroom designs is further driving the market. Consumers are increasingly gravitating towards products that are both visually appealing and functional.
Smart products, such as toilets, showers, faucets, and bathtubs, are becoming increasingly popular. These products are equipped with features such as motion-sensing, personalized settings, temperature control, and voice-activated commands. This is making the bathroom a more comfortable and convenient space. In addition, the growing acceptance of smart products, such as voice-controlled mirrors and automated toilet seats, is propelling the smart bathroom products market. Furthermore, the availability of a wide range of products, such as touchless faucets, heated toilet seats, and smart showers, is further driving the demand for these products.
The increasing trend of connected homes is also driving the market. Smart homes are equipped with connected devices, such as sensors and hubs, which allow for remote monitoring, control, and automation of the home. This is leading to the increased adoption of smart bathroom products. Additionally, the growing demand for energy-efficient products is propelling the market. Smart bathroom products are equipped with features such as automatic shut-off, water-saving features, and temperature control, which help reduce water and energy consumption.
The growing awareness regarding the importance of hygiene is also driving the market. Smart bathroom products are equipped with features such as automatic disinfection, hands-free germ-free faucets, and smart toilets, which help maintain hygiene. This is leading to the increased adoption of these products. Furthermore, the increasing demand for luxurious and modern bathroom designs is also driving the market. Consumers are increasingly opting for products that are both visually appealing and functional.
Product Insights
The shower systems segment held the largest market share in 2020. Factors such as the rising demand for luxury and comfort, growing awareness among consumers regarding the benefits of smart showers such as energy conservation, and increasing demand for convenience and relaxation are driving the growth of this segment. According to an article published by Houzz, in October 2019, the sales of smart showers and showerheads had grown significantly in the past few years.
The smart toilets segment is expected to register the highest CAGR during the forecast period. Growing consumer preference for luxury and comfort, increasing demand for convenience and relaxation, and the growing trend of customization are some of the major factors driving the growth of this segment. According to an article published by Houzz, in October 2019, smart toilets are becoming increasingly popular due to their advanced features such as water conservation, automatic flushing, and in-built bidets. In addition, increasing technological advancements in the bathroom products industry is also boosting the demand for smart toilets.
Distribution Channel Insights
The supermarkets and hypermarkets segment held the largest share in 2021. The convenience of shopping for smart bathroom products from various supermarkets and hypermarkets is a major factor driving the growth of this segment. Supermarkets and hypermarkets provide customers with a wide variety of products from various brands. In addition, these stores provide customers with the convenience of making quick purchases and comparing products from different brands.
The online segment is expected to register the highest CAGR during the forecast period. The convenience of online shopping and the availability of discounts and offers on online websites and apps are major factors driving the growth of this segment. In addition, the presence of various e-commerce websites and apps offering smart bathroom products has made it easier for customers to purchase these products. For instance, Amazon, Flipkart, and Alibaba are some of the major e-commerce websites offering smart bathroom products.
Type Insights
The smart toilet segment accounted for the largest revenue share of 38.2% in the year 2022. The use of advanced technology in toilets such as automatic lid open & closing system, temperature controls, air dryers, warm water washing, and others have increased the demand for smart toilets. Furthermore, the increasing trend of sanitization and hygiene has increased the demand for smart toilets. For instance, in 2021, Kohler, a U.S.-based manufacturer of bathroom products, launched the Numi 2.0 Toilet, a smart toilet that includes an intelligent light system, built-in speakers, and a heated seat among other features.
The smart shower segment is anticipated to expand at the highest CAGR of 14.8% over the forecast period. The increasing demand for luxury and comfort in the bathroom is driving the demand for smart showers. Smart showers come with features such as temperature control, water flow control, and integration with music systems, which provide a luxurious showering experience. Leading companies in the market are launching smart showers to increase their market share. For instance, in 2021, Moen, a U.S.-based manufacturer of bathroom products, launched the U Smart Shower, a Wi-Fi-enabled shower that allows users to control their showers from their smartphones.
Regional Insights
Asia Pacific is expected to be the largest and fastest-growing market for smart bathroom products. Increasing disposable incomes, improved lifestyle, and growing urbanization in the region are the major factors driving the growth of the market. In addition, the presence of prominent players such as Kohler and LIXIL in the region is expected to further drive the growth of the market. For instance, in April 2021, LIXIL launched a digital service platform for smart bathrooms in Japan.
The market in Europe is expected to witness a steady growth over the forecast period. The region is home to several prominent players such as Geberit, Villeroy & Boch, and Roca, who are actively focusing on developing innovative products to meet the changing needs of consumers. For instance, in May 2021, Geberit launched the SensoWash Slim shower-toilet, a smart bathroom product with a sleek design.
Financial Projections
In this part of the smart bathroom products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your smart bathroom products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a smart bathroom products business comes from the sale of products, subscriptions, services, and advertising. Here you will find a list with a description of each of them and other possible sources of profit such as sponsorship, online sales, and licensing fees.
Projecting Expenses
In this section, all the regular expenses related to keeping the smart bathroom products business running will be described. The list of operating expenses includes product materials, product manufacturing and assembly, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the Smart Bathroom Products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Kohler launched a range of smart bathroom products, including a smart shower, a connected toilet, and a voice-activated faucet.
– In August 2022, Moen Inc. launched the U by Moen shower, which includes a digital interface, allowing users to customize their shower settings.
– In October 2022, American Standard launched the Connect+ System, a suite of smart bathroom products, including a bathtub, shower, and toilet.
Some of the prominent players in the Smart Bathroom Products market include:
– Kohler
– Moen Inc.
– American Standard
– TOTO
– DXV
– GROHE
– Hansgrohe
– Duravit
– Roca
– Jacob Delafon
Global Smart Bathroom Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global smart bathroom products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Water Management
– Lighting
– Home Automation
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Smart Bathroom Products Market?
[A]: The major factors that are driving the growth of the smart bathroom products market are the increasing demand for automated bathroom solutions, increasing disposable income, and the rising popularity of smart cities. The growing demand for smart bathrooms among hotels and restaurants is another major factor driving the growth of the market.
[Q]: Which Region is Expected to Lead the Smart Bathroom Products Market?
[A]: North America is expected to lead the smart bathroom products market due to the presence of major companies in the region. The region is also witnessing rapid growth in the construction of smart homes and smart cities.
[Q]: What are the Challenges Faced by the Market?
[A]: The high installation and maintenance cost associated with smart bathroom products is one of the major challenges that the market is facing. In addition, the lack of awareness about smart bathroom products and the high cost of installation are other key challenges that are hampering the growth of the market.
[Q]: What Role Do Manufacturers Play in the Smart Bathroom Products Market?
[A]: Manufacturers are playing a key role in the smart bathroom products market by introducing innovative products and solutions for end-users. Manufacturers are also focusing on developing products with high efficiency, low maintenance cost, and user-friendly operation.
[Q]: What Are the Key Opportunities for Smart Bathroom Products Market?
[A]: The rising demand for efficient and automated bathroom solutions and the increasing focus on energy-efficient products are some of the key opportunities that are expected to drive the growth of the smart bathroom products market. Moreover, the growing demand for water-saving products is also expected to provide lucrative opportunities for the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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