PUBLISHER: The Business Research Company | PRODUCT CODE: 1436682
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436682
A smart bathroom is an area that integrates technology and data to engage and connect with users, aiming to elevate personal hygiene and cleanliness standards. It also enhances safety, operations, and the customer experience while providing insights to stakeholders on labor and resource-saving measures.
The primary products featured in smart bathrooms include hi-tech toilets, soaking tubs, digital faucets, and various other items. Hi-tech toilets are characterized by advanced features such as automatic dryers and heated seats. Smart bathroom connectivity options encompass Bluetooth, Wi-Fi, and 3G, with distribution occurring through both offline and online channels. These products find applications in both commercial and residential settings.
The smart bathroom market research report is one of a series of new reports from The Business Research Company that provides smart bathroom market statistics, including smart bathroom industry global market size, regional shares, competitors with a smart bathroom market share, detailed smart bathroom market segments, market trends and opportunities, and any further data you may need to thrive in the smart bathroom industry. This smart bathroom market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart bathroom market size has grown strongly in recent years. It will grow from $4.56 billion in 2023 to $4.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The rise during the historical period can be credited to a heightened emphasis on home automation, increased awareness of water conservation, expectations for luxury and comfort, the aging population and accessibility, and considerations for energy efficiency.
The smart bathroom market size is expected to see strong growth in the next few years. It will grow to $7.2 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The expansion in the projected timeframe can be linked to the integration of health and wellness, trends in customization and personalization, the adoption of smart mirrors and interactive displays, and solutions for environmental sustainability. Key trends anticipated in the forecast period encompass health and wellness functionalities, advancements in hygiene solutions, strengthened security and privacy, the incorporation of augmented reality (AR) in design and planning, and integration with smart home ecosystems.
The surge in the demand for smart homes is driving the growth of the smart bathroom market. Increasing disposable incomes lead to the adoption of smart houses equipped with innovative technologies such as voice commands, internet-connected features, and Bluetooth connectivity. For example, the India Brand Equity Foundation predicts a substantial expansion of the real estate market in India, reaching 65,000 crores ($9.30 billion) by 2040 compared to 12,000 crores ($1.72 billion) in 2019. This trend is driven by people purchasing new homes annually. In the USA, there are at least 118 million people using voice commands in their homes each month. Therefore, the rising demand for smart homes is a significant driver for the smart bathroom market.
The projected growth of the smart bathrooms market is fueled by the rising inclination toward home remodeling and renovations. Home renovations involve enhancing residential properties, and incorporating smart technologies into bathroom remodeling creates modern, efficient, and personalized spaces. The Joint Center for Housing Studies of Harvard University estimates national spending on remodeling and repairs for owner-occupied homes to reach $485 billion in 2023, marking a 2.6% increase from the previous year. This inclination toward home improvement is a significant driver for the smart bathrooms market.
Technological advancement is a prominent trend as major companies focus on developing new technologies through research and development. Watertec India Pvt. Ltd., an India-based company in the water supply industry, introduced AI-enabled smart bathroom solutions in February 2021. This product line includes innovative solutions such as aqceto, conti+, touchless cisterns by oli, and urimat - waterless urinals. These solutions incorporate artificial intelligence to provide consumers with tailored information, ensuring hygienic and efficient bathroom experiences.
Major companies in the smart bathroom market are introducing innovative products to gain a competitive edge. One such advancement is the voice-controlled, self-filling bathtub, designed to enhance convenience and user experience. For example, in January 2022, Kohler Co., a US-based manufacturer of plumbing products, launched the stillness bath. Users can program the bathtub to fill automatically at a predetermined temperature and depth using the Kohler Konnect app or voice commands. This technological feature caters to the evolving needs of consumers seeking enhanced functionality and ease of use in bathroom fixtures.
In April 2021, BHG Group AB, a provider of home improvement products, acquired Hafa Bathroom Group, including the Hafa, Westerbergs, and Noro brands, for an undisclosed amount. This strategic move is anticipated to enable BHG Group to diversify its business into the bathroom products sector, reinforcing its portfolio and business operations. Hafa Bathroom Group, headquartered in Halmstad, Sweden, is a manufacturer of bathroom products primarily in the Baltic countries.
Major companies operating in the smart bathroom market report are Pfister Company, LIXIL Group Corporation, MASCO Corporation, Kohler Co., Toto Ltd., Bio Bidet, American Standard Brands LLC, Roca Sanitario SA, GROHE AG, Bradley Corporation, Jaquar Group Co. Ltd., Villeroy & Boch AG, RAK Ceramics P.J.S.C, Duravit AG, Moen Incorporated, Delta Faucet Company, HSIL Limited, Cera Sanitaryware Limited, Sloan Valve Company, Symmons Industries Inc., Ove Decors, The Chicago Faucet Company, Jacuzzi Brands LLC, Kallista Co., Brondell Inc., Aquatica Plumbing Group, Aquamoon LLC, Novellini Spa, Colston Bath & Spa Pvt. Ltd.
North America was the largest region in the smart bathroom market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the smart bathroom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart bathroom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart bathroom market consists of sales of Bluetooth speakers, smart showers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Bathroom Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart bathroom market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart bathroom ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart bathroom market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.