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2020-02-14
710
Global
With smart technology penetrating every aspect of people’s lives, it has forayed into bathrooms as well, an integral part of everyday lives. Smart toilet market is a relatively nascent and developing industry, characterized by a low to medium level of competitiveness.
Used in both residential and commercial environments, smart toilets provide benefits like automatic flushing and cleaning, water level management, automatic water jets in bidets, air drying, self deodorizing and heated seating, among others. By simplifying the whole defecating process and increasing efficiency of toilet maintenance while reducing manpower requirements, smart toilets are gaining popularity as a lifestyle statement, especially among the elite classes of the population. They are finding increasing usage in commercial organizations like shopping malls, premium hotels and corporate buildings.
Smart toilets have been in existence in Japan for quite some time, and are now beginning to make their mark globally. Demand predominantly exists in developed countries with high rate of expenditure on sanitation.
By Product Type
By Application
By Region
Demand for smart toilets in the commercial sector exceeds the demand in residential segment by far, with the commercial segment accounting for nearly 70% of revenue. Within commercial, the hospitality sector has the largest market share compared to other sub segments.
Geographically, North America dominates the global market for smart toilets, as the sanitation industry in the region is huge. 100% of the population in US and 99.8% in Canada have access to improved sanitation facilities, as per World Bank data. With rising disposable incomes and expansion of the elite population, the North American region is set to witness the highest growth rate during the forecast period.
By Product Type
By Region
Rapid urbanization around the globe with rising disposable incomes and increasing digitization of processes are the factors driving the market for smart toilets. Currently, about 54% of the global population resides in urban areas and these numbers are expected to grow in future. Demand is expected to rise as smart toilets become a lifestyle statement, especially among the elite population.
Rising number of international luxury hotel chains and growth in the hospitality sector will further foster growth in the smart toilets market.
Investing in the smart toilet business in regions like Asia with low access to improved sanitation might prove risky, as the likelihood of consumers willing to spend on such technology is not high.
Asia Pacific is characterized by the lowest rates of access to improved sanitation, especially countries like India. However, the Chinese government is tending to focus on the toilet industry and smart toilets, which might create opportunities for players in the region.
Market Synopsis
Market Segmentation
The global smart toilet market is segmented as follows:
By Regions
Market Dynamics: Growth Drivers, Restraints and Opportunities
Key Market Players
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
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