The Smart Bathroom Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Smart Bathroom Global Market Report 2024, 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 growth in the historic period can be attributed to increased focus on home automation, rising awareness of water conservation, luxury and comfort expectations, aging population and accessibility, energy efficiency considerations.
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 growth in the forecast period can be attributed to health and wellness integration, customization and personalization trends, smart mirrors and interactive displays, environmental sustainability solutions. Major trends in the forecast period include health and wellness features, advanced hygiene solutions, enhanced security and privacy, augmented reality (AR) in design and planning, integration with smart home ecosystems.
Rising demand for smart homes is driving towards the increase of smart bathroom market. The increasing disposable income leads to upgrading to a smart house that consists more innovative technologies with voice commands or internet connected technologies or Bluetooth connected technologies. For example, according to India Brand Equity Foundation, an Indian Government export promotion agency, by 2040 real-estate market will expand up to 65000 crores in India ($9.30 billion) from 12000 crores ($1.72 billion) in 2019. This leads to people buying their new homes every year. Whereas, in USA there is at least 118 million people using voice commands in home for a month. Hence the increasing demand for smart homes will drive the market for smart bathrooms.
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The smart bathroom market covered in this report is segmented –
1) By Product: Hi-Tech Toilets, Soaking Tubs, Digital Faucets, Other Products
2) By Connectivity: Bluetooth, Wi-Fi, 3G
3) By Distribution: Offline, Online
4) By Application: Commercial, Residential
Major companies operating in the smart bathroom market are developing new products such as voice-controlled, self-filling bathtub to gain a competitive edge in the market. A voice-controlled, self-filling bathtub is a technologically advanced bathroom fixture designed to enhance convenience and user experience. For instance, in January 2022, Kohler Co. a US-based manufacturer of plumbing products, furniture, engines, and power generation launched stillness bath. The Kohler Konnect app or voice commands can be used to program the bathtub to fill itself automatically at a predetermined temperature and depth. Voice commands, such as asking google assistant or amazon alexa to run the bath, can be used to begin filling the bathtub. The Kohler Konnect app, which lets users set up presets for temperature, depth, and other parameters, can also be used to control the system. A predefined routine that activates features in a predetermined order or a color change for the lighting surrounding the tub can heighten the experience.
The smart bathroom market report table of contents includes:
- Executive Summary
- Smart Bathroom Market Characteristics
- Smart Bathroom Market Trends And Strategies
- Smart Bathroom Market – Macro Economic Scenario
- Global Smart Bathroom Market Size and Growth
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- Global Smart Bathroom Market Competitive Benchmarking
- Global Smart Bathroom Market Competitive Dashboard
- Key Mergers And Acquisitions In Smart Bathroom Market
- Smart Bathroom Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Pfister Company
- LIXIL Group Corporation
- MASCO Corporation
- Kohler Co
- Toto Ltd.
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