According to a new report Global Smart Bathroom Market, published by KBV research, The Global Smart Bathroom Market size is expected to reach $6.9 billion by 2026, rising at a market growth of 15.7% CAGR during the forecast period.
Smart toilets ruled the market with a maximum market share in 2019. This is credited to its advanced properties of self-cleaning and self-deodorizing, which makes it a naturally eco-friendly and famous item in the smart bathroom. The smart faucets section is anticipated to grow at a significant CAGR from 2020 to 2026. Expanded awareness regarding the cleanliness factor all over the world is pushing the growth towards programmed and sensor-based faucets, especially among the business segments.
As far as revenue is concerned, the commercial application segment ruled the market in 2019. This is credited to the huge development in the commercial division. The residential application section is anticipated to grow at prominent CAGR from 2020 to 2026. This is credited to expanding urbanization and expenses on home renovating. The present-day urban way of life, alongside smart, updated, and outwardly engaging item innovation with the assistance of IoT, is expanding the adoption rate of smart washroom installations among customers.
North America dominated the market with a maximum share in 2019. This is credited to ever-growing spending on redesigns and rebuilding in the commercial area. An expanding number of commercial structures in the region due to the development of the travel industry is anticipated to encourage the demand for smart bathrooms. Asia Pacific is anticipated to extend at the maximum CAGR from 2020 to 2026.
Structural Insights: https://www.kbvresearch.com/smart-bathroom-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Toto Ltd., Cera Sanitaryware Limited, LIXIL Group Corporation (Grohe AG), Spectrum Brands Holdings, Inc. (Pfister), Masco Corporation (Delta Faucet Company), Bradley Corporation, Kohler Co., Novellini Spa, Sloan Valve Company, and Roca Sanitario, SA (Roca Corporacion Empresarial, SA).
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