Smart Toilet Market size was worth USD 6.4 billion in 2018. Growing demand for hygienic and convenient sanitary solutions are projected to attribute to the market growth. Smart toilets are available in the form of ceramics and other arrangements such as warm water and air dryer. Growing need coupled with increasing investment on the sanitary solution in emerging countries is anticipated to bolster the product demand from 2019 to 2025.
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The key driving factors responsible for the growth of Smart Toilet market :
The demand for water conservation is on all-time high owing to growing water scarcity globally. Government bodies across the globe are raising awareness about water conservation and promoting the use of advanced products. This factor, in turn, is predicted to supplement the market growth of the forecast duration. In a recent study, it was found that approximately, water as high as 4.8 billion gallons is being flushed down in the U.S every day. Smart toilets, on the other hand, focus on minimum use of water and further provide various benefits such as enhanced hygiene and excellent user experience. Apart from providing aesthetically appealing looks, these toilets help in saving water and electricity, thereby, becoming a popular choice among consumers.
Smart toilets are incorporated with innovative features such as seats with anti-bacteria features and UV based bacteria killing. Further, increasing investment home décor has generated a need for the advanced bathroom. Commercial sectors such as hospitality and real sectors are increasingly utilizing smart toilets, which offer a lucrative opportunity for the smart toilet market growth.
Among different application segments, the commercial category accounted for USD 4.6 billion of revenue in 2018. The increasing number of bars, malls, restaurants and hotels are installing smart toilets as part of their effective hygiene bathroom solutions. Moreover, these toilets are available in luxurious segments thus, becoming popular among premium commercial segment.
On the other hand, the residential segment is likely to grow at a CAGR of 10.7% over the forecast period. Growing construction of smart homes aimed at energy saving is strengthening the demand for such toilets. Further, smart toilets are known to be an important component in home décor system. Rapid urbanization in emerging countries are expected to create huge demand for products from 2019 to 2025.
Distribution Channel Insights
In 2018, the offline segment accounted for USD 5.3 billion of revenue, thus being the largest among distribution channels. Offline channels provide physical product verification along with the custom solution. Further, different partnerships formed by both commercial and residential real estate firms with offline distributors help in ensuring an effective supply chain, thereby, driving the segment growth.
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