NEWARK, Del, Jan. 16, 2024 (GLOBE NEWSWIRE) -- The smart bathroom market is estimated to be worth US$ 9.5 billion in 2024 and is projected to be valued at US$ 34.6 billion in 2034. Between 2024 and 2034, the industry is expected to register a 13.7% CAGR.
The growing technological advancements and rise in construction activities worldwide are driving the demand for smart bathroom. Construction of residential and commercial spaces, including malls, offices, and hotels, is fueling demand for smart bathroom products such as smart showers, smart faucets, smart mirrors, and more.
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The growing smart city projects by governments in many developing nations and the development of new smart public and commercial spaces, smart offices, airports, transportation stations, and others drive the market demand. Demand for smart bathroom products is expected to rise in the next few years due to product innovation by manufacturers.
With an increased standard of living of people in both developed and developing nations prefer smart bathroom appliances, such as smart toilets and smart showers, fueling the demand for smart bathroom products. The emergence of IOT technology drives demand for smart home bathroom products. People prefer smart homes with automation, such as touchless systems in rooms, living areas, and bathrooms. Convenience, security, and value are the key benefits of smart bathrooms.
The growing consumer preference for connected homes and energy-efficient solutions can also be regarded as a major factor driving the demand in the smart bathroom market. The flourishing hospitality sector, which includes hotels, resorts, and hospitals, is enhancing the need for smart bathroom accessories.
Key Takeaways from the Smart Bathroom Market Report:
- From 2019 to 2023, the smart bathroom market was valued at a CAGR of 9%
- Based on product type, the smart toilet segment is expected to account for a share of 35.5% in 2024.
- Global smart bathroom demand in China is predicted to account for a CAGR of 14.3% in 2024.
- In the United States, the smart bathroom market will account for a CAGR of 11.6% in 2024.
- Germany is projected to expand by a value CAGR of 13.2% between 2023 and 2034.
- Smart bathroom market in Japan is anticipated to record a CAGR of 15.0% in 2024.
“The increasing infrastructure development activities across the globe and growing popularity of smart bathroom products such as smart toilets, smart soap dispensers, and smart lighting systems are anticipated to drive the market growth during the forecast period." - says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
Scope of the Report:
| Attributes | Details | |
| Estimated Market Size in 2024 | US$ 9.5 billion | |
| Projected Market Valuation in 2034 | US$ 34.6 billion | |
| Value-based CAGR 2024 to 2034 | 13.7 % | |
| Forecast Period | 2024 to 2034 | |
| Historical Data Available for | 2019 to 2023 | |
| Market Analysis | Value in US$ billion | |
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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Smart Bathroom Market Competitive Landscape:
The global intelligent bathroom industry is highly stagnant and competitive, with the presence of various global and regional players controlling the majority of the smart bathroom market share. According to the latest smart bathroom market analysis, key players are implementing innovative strategies, including investment in R&D, product expansions, and mergers & acquisitions.
- Grohe has developed smart bathroom solutions such as smart showers with precise temperature control, water-saving technologies, and digital faucets with motion-sensing capabilities.
- American Standard offers smart toilets featuring bidet functionalities, customizable cleansing options, and automated flushing. They also provide touchless faucets and shower systems focused on water efficiency.
- Moen has entered the smart bathroom market with innovations like voice-activated faucets, smart shower systems with app-controlled features, and water-monitoring technologies to promote conservation.
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Smart Bathroom Segments Covered in the Report:
By Product:
- Smart Toilet
- Smart Soap Dispenser
- Smart Faucets
- Showers
- Smart Bathroom Mirrors
- Smart Bathtubs
By Application:
- Residential
- Commercial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
Authored By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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