Smart Toilet Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Smart Toilet Market Size Worth $12.7 Billion By 2025 | CAGR: 10.3%�
The global smart toilet market size is expected to reach USD 12.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.3% over the forecast period. Rising consumer awareness regarding cleanliness and maintaining proper hygiene at the global level is expected to promote the utility of smart toilet. Additionally, shifting preference towards smart homes in the urban cities due to increasing importance of proper sanitation and offering convenience to the buyers is expected to increase spending on the installation of new smart toilets in the residential and commercial sectors. The governments of different countries including U.S., Germany, France, China, and India have been implementing numerous initiatives to increase awareness regarding the importance of saving water at the global level. As a result, smart toilets are expected to optimize the water flow and thus, likely to gain importance over the next few years. The commercial segment generated a revenue of USD 4.6 billion in 2018. These types of smart products are majorly installed in hotels, restaurants, shopping malls, and bars as consumers perceive them as the luxury products. Furthermore, increasing spending on real estate investment in the commercial sector of countries including China, India, Brazil, and Mexico is a key factor driving the segment. Supportive government policies aimed at infrastructure development are expected to expand the scope for smart toilet vanities as luxury products over the next few years.
The offline channels generated a revenue of USD 5.3 billion in 2018. Consumers prefer these channels as they provide a choice of physical verification, prior to any purchasing decision. Additionally, these brick and mortar stores offer installation as well as aftersales services, which encourage the buyers to use these channels.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/smart-toilet-market
Follow Us: