Growing focus on energy consumption and hygiene maintenance and rapid rise in urbanization are some of the key factors driving market revenue growth
Market Size – USD 3.59 Billion in 2021, Market Growth – at a CAGR of 9.7%,Market Trends – Rising demand for Integrated Workplace Management System (IWMS)
The global smart bathroom market size is expected to reach USD 8.20 Billion in 2030 and register a revenue CAGR of 9.7% during the forecast period, according to a latest report by Reports and Data. Growing focus on energy consumption and hygiene maintenance and rapid rise in urbanization are key factors expected to drive market revenue growth during the forecast period. Increasing demand for smart buildings due to rapid rise in urbanization along with increasing government initiatives has enabled users to remotely monitor and control a variety of products in smart bathrooms and thereby helping in reducing energy consumption. The embedded sensors into various products in smart bathrooms enable ongoing monitoring and analysis of collected data, which enhances user experience. In addition, the growth of government initiatives to promote intelligent infrastructures is an important factor in strengthening the global demand for sensors in smart bathroom products. It is another element that contributes to the growth of the global smart bathroom market.
In addition, rising demand for Integrated Workplace Management Systems (IWMS) is further expected to contribute to the market growth. IWMS enables real estate portfolio management, space and facility management as well as maintenance, and capital project management. Integrated sensors input data into the IWMS to measure parameters such as condition of equipment, sound levels, indoor lighting, energy consumption, room temperature, and even occupancy trends.
However, high prices and connectivity issues for smart bathroom installations are expected to hamper market revenue growth. A poor internet connection is expected to negatively affect the efficiency of smart bathroom products and making them unreliable. These are some factors that could hamper revenue growth of the market.
Companies profiled in the global market report include: American Standard Brands (LIXIL), CERA Sanitaryware Limited., Moen Incorporated, Hansgrohe SE, Jacuzzi Inc., The Jaquar Group, Kohler Co., Spectrum Brands, Inc., Roca Sanitario, S.A, Toto Ltd, and MAAX Bath Inc.
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Some Key Highlights in the Report
For the purpose of this report, Reports and Data has segmented the global smart bathroom market based on product, connectivity, application, and region:
Product Outlook (Revenue, USD Billion; 2019-2030)
Connectivity Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion;2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
Key Advantages of Smart Bathroom Report:
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