Global Smart Toilets Market To Grow At CAGR Of 13%: Hospitality Sector To Lead The Market

By Goldstein Market Intelligence || 2018-02-03 2:58:36 AM

Global Smart Toilets Market To Grow At CAGR Of 13%: Hospitality Sector To Lead The Market

The Global Smart Toilet Market is anticipated to be driven by rising popularity as a lifestyle statement among the elite population, according to our research report

“Global Smart Toilet Market Outlook 2024”

The global smart toilet market is segmented by type into wall mounted and floor standing toilets. Further the market is segmented by application into residential and commercial. Among these, the commercial sector by far exceeds the residential in size, accounting for over 70% of total smart toilet market revenue.

The market for smart toilets is predicted to register a CAGR of 13% over the forecast period i.e. 2016-2024.

The North American and European regions are the most opportunistic markets for smart toilets, owing to factors like highest access rates to improved sanitation facilities in the world, and high expenditure on health and sanitation. Demand is majorly concentrated in the developed regions of the world, with technological advancements and high internet access rates.

Rising Popularity of Statement Symbols: Rapid

Demand for smart toilets predominantly exists among the elite classes, high end commercial centres and premium hotels. Popularity of these toilets, along with other smart technology, as lifestyle statements among the elite population has given a major boost to their demand. Rising disposable incomes worldwide, coupled with increasing penetration of smart technology into all aspects of everyday life and rapid digitisation of processes are some other factors augmenting demand for smart toilets. However, high cost of these toilets make it a luxury item unaffordable for huge chunks of the population, thereby hindering growth in the market.

Growth in the hospitality sector: Major Boost

As hospitality is the largest subsector of the commercial use vertical, rapid growth in the hospitality industry has given a major boost to the smart toilet market. Rapid urbanization worldwide and rise in personal disposable incomes further bolster demand for smart toilets.

Global Smart Toilet Market Outlook 2024” contains detailed overview of the global smart toilet market in terms of market segmentation by product type, application and geography.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

This market report also includes competitive outlook of some of the major players of the global smart toilet market which includes profiling of companies like like Kohler, Caroma, Toto Neorest, Roca, NIU Smart Toilet, Lixil, Jomoo, Dongpeng, Duravit, Hegii, Huida, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global smart 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.

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