The global smart bathroom market size was valued at USD 3.0 billion in 2020 and is expected to reach USD 5.99 billion by 2027 grow at a compound annual growth rate (CAGR) of 10.5% from 2020 to 2027. Growing penetration of smart homes, particularly in developing as well as developed states across the globe, is driving the demand for smart bathrooms. In addition, increasing home improvement projects and bathroom renovations, particularly in western countries, is paving the way for different smart bathrooms for the residential as well as commercial sectors. Increasing spending on home improvement projects or home remodelling is boosting the product demand owing to rising home and mortgage prices. According to the Leading Indicator of Remodelling Activity (LIRA), home improvement spending has risen 6% annually in the last three years since 2015.
In addition, owners spent an additional average of USD 2000 on home remodelling projects in 2016 compared to 2015. This scenario is projected to increase the adoption of smart bathrooms among residential consumers. According to a blog by the Washington Post, as of January 2020, bathrooms are the most remodelled rooms in a home. Higher penetration of smart homes across developed nations of America and Europe is devising greater adoption of smart bathrooms. According to the studies, there were about 30.5 million smart homes in Europe at the end of 2018. Rising construction of smart homes owing to growing luxury lifestyles is resulting in the installation of smart bathrooms. Consumers have been showing an increasing inclination towards bathrooms that provide a spa-like experience with built-in smart fittings, faucets, toilets, and soap dispensers that operate on sensors. According to a blog by Supply House Times, nearly 90% of Americans use their phones in the bathrooms. This scenario is helping the adoption of smart bathrooms through innovative home automation.
In terms of revenue, smart toilets dominated the market with a share of 33.6% in 2020. This is attributed to its advanced properties of self-cleaning and self-deodorizing, which makes it an environmentally friendly and popular product in the smart bathroom. High-tech or smart toilets are widely being used among households and commercial properties owing to various features incorporated in the fixture, such as hands-free flushing, heated seats, motion-activated seats, and built-in night lights. Furthermore, these touchless or smart toilets promote hygiene with flushing activated through digital touchless controls, which is likely to result in greater popularity in a post-covid-19 world.
In terms of revenue, the commercial application segment dominated the market with a share of 61.2% in 2020. This is attributed to the significant expansion in the commercial sector. For instance, Hyatt Hotels as of May 2020 has 74 hotels of 21,021 rooms in Greater China and over the next four years, the company aims for a planned expansion with a pipeline of 27,000 rooms. The commercial places include hotels, restaurants, hospitals, public washrooms and toilets, malls and shopping complexes, airports, railway stations, and other recreational and utility areas. Smart bathroom fixtures enabled with touch technology are highly popular in the commercial sectors, such as shopping mall restrooms, high-end office spaces, and cinema halls. It helps in water conservation, along with improving the aesthetics of the washrooms or restrooms.
The smart bathroom market is segmented on the basis of product, application and region. By product the market is divided into Smart Toilet, Smart Soap Dispenser, Smart Faucet, Smart Shower, Others. By application the market is divided into Residential, Commercial.
North America dominated the market with a share of 40.2% in 2020. This is attributed to increasing spending on renovations and remodeling in the commercial sector. An increasing number of commercial buildings in the region owing to the growth of the tourism industry is expected to boost the demand for smart bathrooms. The commercial sector, which includes hotels, restaurants, and malls, has been investing in remodeling projects to enhance the consumer experience. This process also includes improving public restrooms. This is likely to boost the demand for smart bathroom accessories, such as smart soap dispensers and digital faucets.
Asia Pacific is expected to expand at the fastest CAGR of 11.5% from 2020 to 2027. According to a report by The United Nations World Tourism Organization (UNWTO) in partnership with the Global Tourism Economy Research Centre (GTERC), Asia Pacific tourism has been witnessing exponential growth in international arrivals since 2005. As per UNWTO/GTERC Asia Tourism Trends: 2018, the international tourist arrivals in the Asia Pacific grew by 6% in 2017, thereby reaching to 323 million. The high inflow of tourists has been fostering the growth of the accommodation industry, thereby driving the application of the smart bathroom industry.
Key markets are: American Standard Brands; Cera Sanitaryware Ltd.; Moen Incorporated; Lixil Group; Jacuzzi; Jaquar; Kohler Co.; Spectrum Brands; Roca Sanitario; Toto Ltd.
In addition, owners spent an additional average of USD 2000 on home remodelling projects in 2016 compared to 2015. This scenario is projected to increase the adoption of smart bathrooms among residential consumers. According to a blog by the Washington Post, as of January 2020, bathrooms are the most remodelled rooms in a home. Higher penetration of smart homes across developed nations of America and Europe is devising greater adoption of smart bathrooms. According to the studies, there were about 30.5 million smart homes in Europe at the end of 2018. Rising construction of smart homes owing to growing luxury lifestyles is resulting in the installation of smart bathrooms. Consumers have been showing an increasing inclination towards bathrooms that provide a spa-like experience with built-in smart fittings, faucets, toilets, and soap dispensers that operate on sensors. According to a blog by Supply House Times, nearly 90% of Americans use their phones in the bathrooms. This scenario is helping the adoption of smart bathrooms through innovative home automation.
In terms of revenue, smart toilets dominated the market with a share of 33.6% in 2020. This is attributed to its advanced properties of self-cleaning and self-deodorizing, which makes it an environmentally friendly and popular product in the smart bathroom. High-tech or smart toilets are widely being used among households and commercial properties owing to various features incorporated in the fixture, such as hands-free flushing, heated seats, motion-activated seats, and built-in night lights. Furthermore, these touchless or smart toilets promote hygiene with flushing activated through digital touchless controls, which is likely to result in greater popularity in a post-covid-19 world.
In terms of revenue, the commercial application segment dominated the market with a share of 61.2% in 2020. This is attributed to the significant expansion in the commercial sector. For instance, Hyatt Hotels as of May 2020 has 74 hotels of 21,021 rooms in Greater China and over the next four years, the company aims for a planned expansion with a pipeline of 27,000 rooms. The commercial places include hotels, restaurants, hospitals, public washrooms and toilets, malls and shopping complexes, airports, railway stations, and other recreational and utility areas. Smart bathroom fixtures enabled with touch technology are highly popular in the commercial sectors, such as shopping mall restrooms, high-end office spaces, and cinema halls. It helps in water conservation, along with improving the aesthetics of the washrooms or restrooms.
The smart bathroom market is segmented on the basis of product, application and region. By product the market is divided into Smart Toilet, Smart Soap Dispenser, Smart Faucet, Smart Shower, Others. By application the market is divided into Residential, Commercial.
North America dominated the market with a share of 40.2% in 2020. This is attributed to increasing spending on renovations and remodeling in the commercial sector. An increasing number of commercial buildings in the region owing to the growth of the tourism industry is expected to boost the demand for smart bathrooms. The commercial sector, which includes hotels, restaurants, and malls, has been investing in remodeling projects to enhance the consumer experience. This process also includes improving public restrooms. This is likely to boost the demand for smart bathroom accessories, such as smart soap dispensers and digital faucets.
Asia Pacific is expected to expand at the fastest CAGR of 11.5% from 2020 to 2027. According to a report by The United Nations World Tourism Organization (UNWTO) in partnership with the Global Tourism Economy Research Centre (GTERC), Asia Pacific tourism has been witnessing exponential growth in international arrivals since 2005. As per UNWTO/GTERC Asia Tourism Trends: 2018, the international tourist arrivals in the Asia Pacific grew by 6% in 2017, thereby reaching to 323 million. The high inflow of tourists has been fostering the growth of the accommodation industry, thereby driving the application of the smart bathroom industry.
Key markets are: American Standard Brands; Cera Sanitaryware Ltd.; Moen Incorporated; Lixil Group; Jacuzzi; Jaquar; Kohler Co.; Spectrum Brands; Roca Sanitario; Toto Ltd.
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