Chicago, Feb. 24, 2022 (GLOBE NEWSWIRE) -- The U.S. smart bathroom market is expected to grow at a CAGR of 10.48% during the period 2021−2027. Development of next-generation smart airports driving the market growth. There is an increasing consumer preference for bathrooms that offer a spa-like experience with built-in smart fittings, soap dispensers, faucets, and toilets that operate on sensors.
U.S. SMART BATHROOM MARKET REPORT SCOPE
| REPORT ATTRIBUTE | DETAILS |
| MARKET SIZE (REVENUE) | $2.41 Billion (2027) |
| CAGR (REVENUE) | 10.48% (2021-2027) |
| BASE YEAR | 2021 |
| FORECAST PERIOD | 2022-2027 |
| END-USER SEGMENT | Commercial and Residential |
| DISTRIBUTION CHANNEL | Online and Offline |
| GEOGRAPHICAL ANALYSIS | Western U.S., Southern U.S., Northeast U.S., and Midwest U.S. |
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KEY HIGHLIGHTS OFFERED IN THE REPORT:
- The US smart bathrooms market will witness an absolute growth of 81.80% in terms of revenue in the period between 2021-2027.
- By application, commercial segment dominated the US smart bathrooms market with a revenue share of 60.81% in 2021 and is expected to grow with a CAGR of 10.70% by the end of 2027.
- In terms of distribution channel, offline segment dominates the US smart bathrooms market in 2021 and is expected to add over $726.76 million revenue during the forecast period.
- Western US dominates the overall US smart bathrooms market with a share of 36.57% in 2021 in terms of revenue. Due to the high acceptance of technologically advanced products, growing disposable income, excellent growth potential in multiple end-user industries, and the increasing number of smart homes.
- The Southern US holds the second largest share in the US smart bathroom market due to the presence of the largest population base, which has resulted in a higher number of housing units and growth in the real estate, tourism, and hospitality sectors.
KEY OFFERINGS:
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, end-user, distribution channel, and region
- Competitive Landscape – 4 key vendors and 12 other vendors
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U.S. SMART BATHROOM MARKET – SEGMENTATION
- Smart faucets use efficiency sensors and temperature gauges that enable controlled water usage in the bathroom and pre-cool or preheat water depending on the specifications before the faucet turns on. This decreases the amount of wasted water and increases savings and efficiency.
- The demand for smart bathrooms in the commercial sector is relatively higher than that in the residential sector. The commercial sector held a market share of 60.81% in 2021 and is estimated to grow at a CAGR of 10.70% during the forecast period.
- Smart bathrooms products are mainly sold through retail distribution channels such as specialty stores, hypermarkets, and certain home improvement stores. The distribution environment is rapidly evolving with systems and processes being upgraded at a rapid pace.
U.S. Smart Bathroom Market by Product
- Smart Toilets
- Smart Soap Dispenser
- Smart Faucet
- Smart Shower
- Smart Tubs
- Smart Hand Dryers
- Others
U.S. Smart Bathroom Market by End-User
- Commercial
- Residential
U.S. Smart Bathroom Market by Distribution Channel
- Online
- Offline
U.S. Smart Bathroom Market by Region
- West U.S.
- South U.S.
- Northeast U.S.
- Midwest U.S.
U.S. SMART BATHROOM MARKET – DYNAMICS
A smart home is a residential extension of building automation, i.e., a home system that provides integrated, centralized control of individual systems such as small appliances, consumer electronics, environmental control systems, and building components. Smartphones connect consumers and machines, offering a common control to operate these systems. The whole concept of a smart home is changing the way that people live. Several appliances and household equipment in homes are connected by cables and electric wiring, and there are wireless modes of communication. They can be controlled from remote places, using mobile phones as terminals. Engrained digital knowledge among consumers will encourage the acceptance of smart bathroom products such as smart faucets and smart showers in homes. Enhanced connectedness and the ability to converge voice-assistance technology with the smart home concept have witnessed an acceptance among modern-day tech-savvy end-users.
Key Drivers and Trends fueling Market Growth:
- Development of Next-Generation Smart Airports
- Preventing Spread of Hospital-Acquired Infections
- Growth in Tourism & Hospitality Industry
- Growth of Digital & Connected Technologies (IoT)
U.S. SMART BATHROOM MARKET – VENDOR LANDSCAPE
Many players are focusing on developing innovative products and investing in R&D initiatives to expand their product portfolios. Although established players dominate the market, there are tremendous growth opportunities for new entrants that produce low-cost products to target the developing end-markets. The competitive rivalry is higher in the Western and Southern US as these regions are witnessing a higher growth rate in construction projects. Factors such as rising disposable income and growing urbanization are encouraging vendors to expand their customer base. Several upcoming projects across the healthcare and hospitality industries are expected to propel the demand for smart bathrooms. The changing purchasing behavior of consumers in the country is attributed to the growing preference to purchase products from various online channels such as proprietary websites, e-commerce websites, and more. Before the actual purchase of smart products, customers visit various company websites to check for innovative and designer products, which is followed by a visit to their retail stores.
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Major Vendors
- Jaguar
- CERA Sanitaryware
- Lixil
- Masco
Other Prominent Vendors
- Kohler
- Bradley Corporation
- Cleveland Faucet Group
- Jacuzzi
- Novellini
- Spectrum Brands
- Roca
- Sloan Valve
- TOTO
- Fortune Brands
- Duravit
- Gerber
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