Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Smart Toilet market.
Trusted Business Insights presents an updated and Latest Study on Smart Toilet Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Smart Toilet market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Smart Toilet Market Size, Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
Industry Insights, Market Size, CAGR, High-Level Analysis: Smart Toilet Market
The global smart toilet market size was valued at USD 6.4 billion in 2018. Rising need for convenient sanitary hygiene products among the consumers is expected to remain a favorable factor for the market growth in the coming years. These products are available in a ceramic toilet arrangement, along with in-built facilities including air dryer and warming water.
It has been observed that intelligent bathroom products have become a style statement in developed nations including U.S., U.K., Germany, and France. Furthermore, the industry participants are offering innovative hygiene technologies including UV lighting, auto flush, Bluetooth connectivity, and auto open seat covers to provide better bathroom experience to the consumers.
Over the past few years, demand for water conservation has been increasing at the global level. Implementation of various government initiatives in many countries on spreading awareness among consumers about the requirement of water conservation is driving the people to increase spending on advanced products, including smart toilet vanities. As per a recent study, in U.S., around 4.8 billion gallons of water is flushed down every day. Smart toilets have the ability to use minimum water with intelligent toilet seats, making them a hygienic and convenient option from the buyers end. These products can optimize the water and electrical energy usage in toilets, along with providing an aesthetic appeal.
It has been observed that smart toilets are loaded with different features including UV bacterial killing light nozzle and anti-bacterial seats. Furthermore, shifting inclination towards bathroom decoration as a part of lavish home decor is driving the people to purchase these products. Rising utilization of smart toilets in the commercial real estate and hospitality sectors is playing a crucial role in increasing the products adoption. Additionally, growing popularity of internet of things technology and voice controlled equipment at the global level is expected to open new market avenues over the next few years.
Application Insights of Smart Toilet Market
The commercial application segment generated a revenue of USD 4.6 billion in 2018. Large number of high end restaurants, bars, hotels, and shopping malls are installing smart toilers to provide hygienic services to their customers. Moreover, smart toilet is considered to be a luxury product, which can be installed in the premium commercial places.
The residential application segment is expected to expand at the fastest CAGR of 10.7% from 2021 to 2026. Rising importance of smart home as a result of growing requirements pertaining to energy preservation, push button control, and shifting demographic preferences is expected to have a favorable impact on the industry growth. These smart homes are featured with in-built components including smart LED and smart toilets. Such type of advanced toilets are considered to be an important part of home decor. Housing builders are providing pre-installed smart toilets to their buyers in order to provide more valuable offers to them.
Distribution Channel Insights
Offline distribution channel was the largest segment with a revenue of USD 5.3 billion in 2018. A large number of consumers prefer to purchase these kind of smart products from these channels as they provide a choice of physical verification, before making any purchasing decision. Furthermore, different residential and commercial real estate companies are establishing partnerships with these stores in order to ensure the continuous supply of the products at discounted prices.
The online segment is expected to be the fastest growing distribution channel, expanding at a CAGR of 10.8% from 2021 to 2026. These channels provide various attractive offerings including free cashbacks and membership, doorstep delivery services, and easy return options, which is preferred by the consumers, particularly millennials. It is easy to understand the product features and compare their prices through this channel. Different e-commerce portals analyze consumers requirement and provide offers based on their purchase trend.
Regional Insights of Smart Toilet Market
Europe dominated the market, accounting for a share of exceeding 35.0% in 2018. Increasing consumer spending on maintaining bathroom hygiene is propelling the smart toilet market growth. A recent study shows that a large number of population in Germany and U.K. prefers to install intelligent toilet seat so that they dont need to pull it by hand, which is unhygienic. Rising consumers spending on health and hygiene products in U.K., Germany, and France is expected to remain a favorable factor for the industry growth in the upcoming years.
Asia Pacific is estimated to be the fastest growing market, expanding at a CAGR of 12.8% from 2021 to 2026. It has been observed that the total population of metro cities in the aforementioned countries has increased in the last few years. Growing disposable income, coupled with increase in the population of key cities of countries including China, India, Bangladesh, and South Korea, is expected to increase spending on bathroom equipment and accessories, such as smart toilets.
Market Share Insights of Smart Toilet Market
Major market players include Kohler Co., Toto Ltd., Roca Sanitario SA, LIXIL Group Corporation, Duravit AG, Wellis, Masco Corporation, Bradley Corporation, Fortune Brands, and Villeroy & Boch AG. The market is fragmented due to the presence of many large and small players. Majority of the manufacturers are from U.S., Japan, and China. Companies are adopting strategies such as product development and new product launch to increase their market reach. For instance, in January 2019, Kohler Co. has launched a smart toilet with features including ambient lighting, built-in speakers, and Amazon Alexa and Google Assistant support. Additionally, in November 2018, Xiaomi Corporation has launched smart toilet seat under their smart home brand. This product comes with Xiaomis XiaoAI voice assistance and artificial intelligence features.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Smart Toilet Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global smart toilet market report on the basis of application, distribution channel, and region:
Application Outlook (Revenue, USD Million, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Smart Toilet Market Size, Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580