Smart Toilet Market Size To Reach USD 22.20 Billion at a CAGR of 15.12% by 2030 – Report by Market Research Future (MRFR)
Growing Home Renovation Activities Drive Global Smart Toilet Market
New York, US, Feb. 28, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Smart Toilet Market Research Report: By Type, Connectivity, Usage, Distribution Channel and Region – Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 22.20 Billion by 2030. The reports further predict the market to flourish at a robust CAGR of over 15.12% during the assessment timeframe.
Smart Toilet Market Analysis:
The smart toilet market is witnessing vast investments in the commercial development of intelligent toilet prototypes. The market delivers high premiums for manufacturers due to the shift and adoption of smart toilets by high-net-worth customers. Besides, the extensive uptake of smart toilets and the flourishing construction sector are the prime determinants of substantial market growth.
The construction industry is experiencing substantial growth owing to growing per capita income and the growing acceptability of innovative smart technologies. The growing influence of the media and fashion industries is generating a surge in demand for the industry. Factors substantiating the market growth include changing lifestyles and growing per capita income.
Smart toilets offer significant advantages with various efficient sensors incorporated in their systems, such as automatic flush and sensing the water requirement for flushing. This feature reduces the amount of water used compared to a conventional toilet and automatically shuts off when they sense a potential overflow and detects a leak and alerts via a smart device, which can save on utility costs.
These products can optimize water and electrical energy usage, making them a hygienic and convenient option for buyers. Intelligent toilet seats can auto-open, close, heat up, and even clean and deodorize themselves. It has been observed that installing smart bathroom products has become a style statement. These factors, along with the rapid economic growth and improving lifestyles worldwide, are projected to act as a significant tailwind for the global smart toilet market.
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Players leading the smart toilet market include
- Kohler Co.
- Toto Ltd
- Roca Sanitario S.A,
- GWA Group Limited
- LIXIL Group Corporation
- Duravit AG
- Villeroy & Boch
- Jomoo Group
- Huida Sanitary Ware Co. Ltd.
- Dongpeng Ceramic, among others.
|Revenue forecast in 2030||USD 22.20 Billion|
|Growth Rate||CAGR of 15.12% from 2022 to 2030|
|Key Market Opportunities||The introduction of new products and the increasing awareness among consumers|
|Key Market Drivers||Rising concerns regarding hygiene and contagious diseases.|
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Growing urbanization, technological advancements, and economic growth have significantly changed people’s lifestyles, which has increased the demand for convenient, sanitary facilities and the trend toward innovative concepts. Besides, rising concerns regarding hygiene and contagious diseases are boosting the demand for smart toilets.
Spurring rise in corporate offices, hectic work cultures of the IT industry, and large employee sizes encourage enterprise management teams to adopt the demand for more convenient sanitary wares and smart toilets. The smart toilet market size is also boosted by the expanding construction industry in developed countries, witnessing increased commercial and residential construction activities.
The construction sector benefits from rising disposable income and government spending on huge infrastructural projects. Smart toilets are more expensive than conventional ones, as several high-end components are used in smart toilets, which increases the overall market price.
Factors such as the high implementation costs, wide preference for traditional toilets over smart toilets, and vast presence of sanitary ware product manufacturers are key factors restricting the growth of the smart toilet market on a global scale. There are several high-end components used in smart toilets. Fluctuations in the prices and the demand-supply gap in various key components across countries could pose major challenges to the market players.
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The smart toilet market report is segmented into types, connectivity, usages, distribution channels, and regions. The smart toilet type segment is sub-segmented into wall-hung toilets, close-coupled, one-piece toilets, single-floor-standing toilets, and others. Among these, the wall-hung toilets segment accounts for the largest market share.
The connectivity segment is sub-segmented into Bluetooth, Wi-Fi, and others. The usage segment is sub-segmented into commercial and residential. The distribution channel segment is sub-segmented into online and offline. The region segment is sub-segmented into Asia-Pacific, Americas, Europe, and rest-of-the-world.
Europe commands a large share of the global smart toilet market. Rapid advances in smart toilet technology and high investments by the government to develop technologies drive market growth. Besides, the increasing awareness of the benefits of smart toilets and the importance of hygienic sanitary facilities foster the smart toilet market demand.
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The smart toilet market represents a bimodal nature and is brand intensive. Marketing expenditure accounts for a large part of the sales, and players engage celebrities to endorse their products. Social media forms a part of the marketing efforts, and large social media campaigns are addressed towards the purpose. These players focus on optimizing social awareness to ensure the success of marketing efforts.
The selection of the marketing channel is also an important factor for the success of products. Targeted advertisements are expected to yield higher returns than untargeted mass advertisements. Manufacturers of smart toilets use specialized distribution channels and high-end stores to maintain the sanguinity of product quality.
Smart toilets with artificial intelligence (AI) capabilities enabling disease surveillance with every flush are trending in the market. They can analyze stool samples for signs of acute or chronic gastrointestinal disease, such as infections, inflammatory bowel disease, or bleeding. Industry players strive to obtain commercial development licenses for smart toilet prototypes.
For instance, on Jan. 31, 2023, TOTO, a leading global provider of plumbing solutions, announced that it has charged back to Las Vegas Kitchen & Bath Industry Show (KBIS) 2023 with exciting new products for residential and commercial bathroom designs. The company focuses on meeting peoples’ beauty, comfort, and cleanliness needs while conserving natural resources.
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