Rising Demand among HNWI to Impel the Growth of Smart (Intelligent) Toilet Market by 2023, according to Research Nester“Smart (Intelligent) Toilet Market: Global Demand Analysis & Opportunity Outlook 2023”
The global smart (intelligent) toilet market is segmented into type such as wall hung toilet, close-coupled, single floor standing toilet, one-piece toilet and others. Additionally, wall hung toilet segment is believed to capture the largest market in overall smart (intelligent) toilet market by 2023. Moreover, smart (intelligent) toilet segment is anticipated to mask a significant CAGR over the forecast period. In addition to this, expansion of urban population across the globe and adoption of innovative toilets by hospitality sector are the major factor propelling the growth of smart (intelligent) toilet market.
Global smart (intelligent) toilet market is expected to register a CAGR of 13% over the forecast period. Moreover, the global smart (intelligent) toilet market is projected to reach at notable revenue over the forecast period. The market is expected to expand on the account of growing popularity of stylish bath products such as smart toilet among the population.
Further, with 70% share, the commercial segment by usage is believed to be the largest segment in overall smart (intelligent) toilet market. Further, robust expansion of hospitality sector across the globe is envisioned to intensify the growth of smart (intelligent) toilet market. In terms of regional platform, North America region captured the largest market of smart (intelligent) toilet market in 2016 aided by U.S. Further, the expansion of smart (intelligent) toilet market in North America region is attributed to the presence of major key players such as Kohler.
Technological advancement in sanitaryware
Increasing integration of smart technology into sanitaryware products coupled with growing adoption of innovative technology by consumers is projected to boost the demand for smart (intelligent) toilet. Furthermore, these advancements and continuous innovation is the major driving force which is anticipated to propel the growth of smart (intelligent) toilet market.
Swelled disposable income
Rapid urbanization along with rise in purchasing power has led the consumer to invest more on technologically advanced and luxury products which are likely to positively impact the growth of smart (intelligent) toilet market. Additionally, positive GDP figures of developed and developing nations such as U.S., China and others is also expected to fuel the growth of smart (intelligent) toilet market.
On the contrary, high cost associated with smart (intelligent) toilet and low adoption rate regarding smart technology due to high cost in underdeveloped and developing nation are anticipated to hamper the growth of smart (intelligent) toilet market during the forecast period.
The report titled “Smart (Intelligent) Toilet Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global smart (intelligent) toilet market in terms of market segmentation by type, by usage, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global smart (intelligent) toilet market which includes company profiling of Roca Sanitario S.A., Caroma, DXV American Standard, Toto Neorest, Kohler, Costco, Mansfield, Saniflo, Niagara and NIU Smart Toilet. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart (intelligent) toilet market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.