New York, July 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smart Bathroom Global Market Report 2022" - https://www.reportlinker.com/p06290031/?utm_source=GNW
, Duravit AG, Novellini Spa, Pfister, and Moen Incorporated.
The global smart bathroom market is expected to grow from $3.87 billion in 2021 to $4.3 billion in 2022 at a compound annual growth rate (CAGR) of 11.1%. The smart bathroom market is expected to grow to $6.55 billion in 2026 at a CAGR of 11.1%.
The smart bathroom market consists of sales of smart bathroom solutions services by entities (organizations, sole traders, and partnerships) that refer to a bathroom loaded with advanced features which are connected to the internet and the technology inside the bathroom makes it easier with extra comfort and accessibility.
The main product in the smart bathroom is hi-tech toilets, soaking tubs, digital faucets, and other products. Hi-tech toilets refer to the toilet having advanced features such as automatic dryers, heated seats, and many more features. . The different smart bathroom connectivity options include Bluetooth, Wi-Fi, and 3G and is distributed through offline and online channels. They are used in applications for commercial and residential purposes.
North America was the largest region in the smart bathroom market in 2021 and is expected to be the fastest-growing region in the forecast period. The regions covered in the smart bathroom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The smart bathroom market research report is one of a series of new reports that provides smart bathroom market statistics, including smart bathroom industry global market size, regional shares, competitors with a smart bathroom market share, detailed smart bathroom market segments, market trends and opportunities, and any further data you may need to thrive in the smart bathroom industry. This smart bathroom market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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.
Technological advancement is a key trend gaining popularity in the smart bathroom market.Major companies in smart bathroom market are advancing in their new technologies and research and developments in the smart bathroom market.
For instance, in May 2020, Jacuzzi, a US based manufacturer and distributor of branded baths launched Smarttub system.Smarttub is customized, remote monitored bath tub that sends real time alerts and diagnostics to dealer.
It also changes temperature, lighting and jets based on the preference of the user.
In April 2021, BHG Group AB, a business provider in home improved products like as home and furnishing products acquired a Hafa Bathroom Group including Hafa, Westerbergs and Noro brands for an undisclosed amount.As a result of this acquisition, BHG Group may expand its business operations into bathroom products also and strengthen its portfolio and business operations.
Hafa Bathroom Group includes Hafa, Noro and Westerbergs is a manufacturer of bathroom products mainly in Baltic countries, headquartered at Halmstad, Sweden.
The countries covered in the smart bathroom market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06290031/?utm_source=GNW
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