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People widely use smart bathroom products such as commodes, showers, and others to gain a luxurious bathroom experience in their households. The elderly and mobility-impaired population mainly prefer to install a variety of voice-activated bathroom products in their house as such products can effectively assist people in their daily bathroom needs. The rising adoption of virtual assistant-controlled bathroom devices among households is likely to provide newer market opportunities worldwide.
Nowadays, companies are introducing innovative bathroom products to attract people to buy them. For instance, in January 2020, Kohler Co., a global leader in the innovation and designing of bath & kitchen products, introduced a variety of smart bathroom products such as Sectra Touchless Faucet with Kohler Connect, DTV mode shower system, and a newer touchless toilet technology at CES 2020 summit.
People mainly prefer to have innovative & high-performing bath and shower products in their smart homes. Therefore, the rising demand for smart homes among the global population is expected to ease the demand for such innovative products, thereby driving market growth. According to the statistical data presented by the National Association of Realtors, in 2020, 6.76 million existing housing units were sold in the United States. Such a significant demand for homes would ease the sales in the U.S. smart bathroom products market.
Additionally, the growing adoption of smart commodes, faucets, and showers among commercial settings such as airports, ship ports, and others is likely to provide newer market growth opportunities. Besides this, the uncertain occurrence of coronavirus infection in many countries across the globe is likely to uplift the demand for touchless bathroom products among commercial settings such as hotels and hospitals as they can maintain their bathroom area infection-free and hygienic. Additionally, Regular home improvement needs coupled with growing home renovation trends among the global population is likely to support the growth of the market.
However, higher repair and maintenance cost of such products is anticipated to restrain the market growth. Additionally, ease consumers' accessibility to low-cost substitute products such as manual faucets, showers, and others is expected to hamper the demand for such smart bathroom products.
Key Market Driver -
Rising demand for the smart homes is expected to drive the market growth.
Key Market Restraint -
Higher repair and maintenance cost of such products is anticipated to restrain the market growth.
The prominent players associated with the global smart bathroom products market are Delta Faucet Company, Colston, Kohler Co., Moen Incorporated, Lixil Group, The Chicago Faucet Company, Villeroy & Boch Company, HSIL, Duravit Company, Jaguar Group, and others.
The global board games market is segmented based on product type, application, distribution channel, and geography.
The market is segmented into commodes, dispensers, showers, faucets, and others (water monitors, body dryers, mats, mirrors, drawers & cabinets, etc.) based on the product type. The commodes segment is expected to hold a major market share due to the large consumer demand for such products for their daily toiletry needs. Additionally, increasing the provision of mobility-assisted smart commodes by the associated companies is further likely to attract the elderly population towards such products thereby, further driving the segmental growth.
By application, the global market is segmented into residential and commercial. The commercial segment is anticipated to exhibit a significant market share due to the large demand for such products among the settings such as hotels, airports, and others to offer a luxurious living experience to their customers. Additionally, growing hotel and restaurant chains across the world are likely to ease such products' demand among such settings, thereby fuelling the segmental revenues.
By distribution channel, the global market is segmented into offline and online. The offline segment is expected to hold a major share of the global market as people can understand the product features in person from sales representatives at these stores. Additionally, regular provision of after-sales services and support, including the repairing & maintenance of bathroom products by such stores, is likely to attract people towards buying such items from offline stores thereby, supporting the segmental growth.
By geography, the global smart bathroom products market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The North America region's largest market share is attributed to the large demand for high-end bathroom and kitchen products among the population in the countries such as the United States and Canada, thereby resulting in larger product revenues from the North America region. According to the data presented by the National Kitchen and Bath Association, from January 2020 to September 2020, U.S. kitchen & bathroom products revenues reached USD 139 billion. Additionally, increasing consumer demand for mobility assistive toilet and bathroom devices such as chairs, commodes, and others is further driving the market growth in the region.
Smart bathroom products such as commodes, faucets, and others are widely used among hotel and restaurant settings in their guest rooms. Faster growth of the Asia Pacific region is attributed to the growing commercial, infrastructural settings such as hotels and restaurants in countries such as China and India. This will support the demand for bathroom products among such settings in the region. For instance, in January 2021, Radisson Hotel Group, an American hospitality company, expanded its presence by introducing 84 exceptional hotels and resorts in the countries such as China, India, and Australia. Additionally, shifting consumer trends towards the usage of innovative and smart home devices is further likely to support market growth in the region.
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