Global Smart Bathrooms Market: Introduction
With the advent of the Internet of Things (IoT) and mounting user base of smartphones, a number of industries have taken up modernization and are rebranding themselves as smart industries. One such market is the global smart bathroom market. The increasing trend of automation is driving this market substantially. The rising popularity of hi-tech toilets and digital faucets are expected to support the growth of this market in the years to come.
This research study presents an all-inclusive study of the global smart bathrooms market, taking the market trends and prospects in consideration. The report also analyzes key segments of this market to offer a deep insight into it.
Global Smart Bathrooms Market: Competitive Analysis & Notable Developments
Although still at a nascent stage, the global smart bathrooms market is teeming with participants. Some of the leading players in this market are:
- Toto Ltd.
- Roca Sanitario
- LIXIL Group Corp.
- American Standard Brands
- Cleveland Faucet Group (MOEN)
- Cera Sanitaryware Ltd.
- Masco Corp.
- Bradley Corp.
- Delta Faucet Co.
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These players are actively involved in strategic collaborations to enhance their visibility and retain their positions. Over the coming years, they are expected to focus more on product developments and new product launches. Let’s look at a few notable developments happened the recent past:
- LIXIL group recently entered into an acquisition agreement with India-based Sentini Sanitarywares. The company plans to invest US$65 mn to boost the production of ceramicware in India.
- Duravit launched furniture console systems in two new variants with different thickness of 30 mm and 45 mm. These consoles can be easily integrated into bathroom designs, such as above counter washbasins. With this, the company plans to gain a strong footing in the global smart bathroom market.
Global Smart Bathrooms Market Dynamics
Demand for Hand Dryers to Remain Strong
The worldwide smart bathrooms market is analyzed on mainly three fronts: Type, end user, and geography. On the basis of the type, smart windows, touchless cisterns, hand dryers, smart toilets, touchless faucets, and touchless soap dispenser have surfaced as the key segments of this market. Among these, hand dryers are leading the market with significantly high demand. The increasing number of public washrooms is translating into a rise in the deployment of hand dryers, which will support this segment in the near future. Apart from this, touchless soap dispensers are also gaining prominence across the world.
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Non-Residential Segment Reports Higher Demand
In terms of the end user, residential and non-residential are the two major segments in the global smart bathrooms market. Among the two, the non-residential segment is reporting a higher demand for smart bathroom equipment. This can be attributed to the rising demand for hygiene maintenance in public washrooms.
Asia Pacific to Offer Promising Growth Opportunities
Asia Pacific, the Middle East and Africa, Latin America, North America, and Europe are the main regions, where the global smart bathrooms market reports its reach. With the high penetration of smartphones and the availability of advanced cloud infrastructure and established telecommunication industry, North America has been dominating this market. Europe, too, isn’t far behind though. The increasing deployment of soaking tubs and technologically advanced toilets in the healthcare facilities is boosting the Europe smart bathroom market significantly. However, it is Asia Pacific, which is presenting the global market with immense growth opportunities. The rising preference for energy-efficient homes among consumers will drive the growth in the Asia Pacific smart bathrooms market in the near future. This regional market will also gain from the increasing investments in the non-residential real estate industry, considerably.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.