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The smart toilet market is expected to grow from US$ 6,086.25 million in 2022 to US$ 11,620.76 million by 2028; it is estimated to grow at a CAGR of 11.4% from 2022 to 2028
Smart home concept is receiving high momentum across the world.Most smart homes are installing various smart devices such as smart speakers, lights, TVs, doorbells, and smart toilets.
New York, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smart Toilet Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Connectivity Type, and End User" - https://www.reportlinker.com/p06382133/?utm_source=GNW
Also, due to rising disposable income, increasing urbanization, and growing awareness regarding personal hygiene and safety, the adoption of smart homes is growing.The high inclination toward smart homes is propelling the demand for bathroom management solutions and products.
Procurement of IoT-enabled devices for residential purposes is increasing at a high rate.Smart toilets, also known as shower toilets, depict key features such as seat/water/dry, cooling and heating system, self-cleaning, and sterilization with remote control accessibility.
Thus, these toilets are obtaining popularity in residential applications across the world. Below mentioned are a few stats on smart toilets:
• In 2020, over 2,000 Toto toilets were sold in Australia. Also, products by Toto brand were made available through retailers such as Harvey Norman, with Victorian appliances distributors. Moreover, higher number of Japanese-style toilets got installed in domestic bathrooms in Australia because of rising awareness of hygiene due to the COVID-19 pandemic.
• In August 2022, Kohler’s "intelligent toilet designs" were developed with integrated sleek designs and high-tech features. The company unveiled Numi 2.0, Eir, Innate and Veil intelligent toilets equipped with technological features such as heated seats and built-in nightlights.
Such massive demand for smart toilets coupled with the presence of smart toilet providers are driving the growth of the global smart toilet market.
The water crisis has surged significantly across countries such as the US, Canada, and Mexico in the last couple of years. According to the estimates of Coalinga City council members, the city is expected to buy water worth ~US$ 1.3 million from private vendors. As a result, there is an urge of adopting water sustainable solutions across residential and nonresidential sectors to address water shortage issues and save excess costs. The US Federal Government authorities have introduced water per flush limits to reduce water usage in washrooms. The Federal Government has set a limit of 1.6 gallons of water per flush. The United States Environmental Protection Agency has set a limit of 1.28 gallons of water under its WaterSense program.
These factors encourage the smart toilet market players to innovate their products by considering these guidelines.
Impact of COVID-19 Pandemic on Smart Toilet Market
The COVID-19 pandemic initially disrupted and delayed the projects of smart toilet installation in public spaces across Europe and increased the demand and supply gap in the smart toilet market during FY 2020.Further, from the supplier’s side, the disrupted supply chain had led to a shortage of semiconductors and electronic devices that led to limited production of final products.
Moreover, the lockdown measures led to the temporary discontinuation of the operations of the commercial hospitality sector, which had also been affected by the slowdown in the travel & tourism sector across European countries during the pandemic.Several commercial end users planned to integrate smart toilets across their respective buildings.
However, their installation projects were delayed due to the lockdown restrictions across European countries. In FY 2021, a surge in urbanization, modern sanitary infrastructure, awareness among consumers regarding the sustainable use of water and the benefits of smart toilets, and supportive government initiatives toward smart city developments fueled the demand for smart toilets in Europe, thereby contributing to the growth of the smart toilet market
Germany is one of the largest adopters of technology, including smart home technologies, across Europe.A study conducted by German industry association Bitkom shows that ~40% of German households have adopted smart home technologies, majorly to enhance energy efficiency across their home.
These factors are influencing the demand for smart toilets across the country, thereby contributing to the growth of the smart toilet market.
Owing to the rapid climate change, Germany is also triggered with the adverse impacts of water scarcity.The groundwater level is experiencing a rapid drop, which is expected to increase water conflicts across the country by government officials.
Thus, the rising concerns of water across Germany is further expected to increase the demand for smart toilets across the country in the coming years to help the population use water sustainably. Additionally, the presence of companies, such as Germany Brilliant, offering smart toilets is expected to contribute to the German smart toilet market growth during the forecast period.
Mexico is currently experiencing a water crisis, with very little water available for drinking and sanitation.Thus, the government authorities are promoting the sustainable use of water for all applications, which is increasing the awareness of water-efficient smart toilets and propelling the demand for these toilets across the country.
Additionally, the surging adoption of connected devices and automated smart solutions across Mexican households is expected to bolster the smart toilet market growth in Mexico.
Lixil Corp, TOTO Ltd., Roca Sanitario SA, Kohler Co, and Duravit AG are a few smart toilet market players operating across the world.
The overall smart toilet market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the smart toilet market.
The process also serves the purpose of obtaining an overview and forecast of the smart toilet market size with respect to all market segments.Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights.
The participants of this process include VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the smart toilet market.
Read the full report: https://www.reportlinker.com/p06382133/?utm_source=GNW
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