Smart (Intelligent) Toilet Market Analysis & Opportunity Outlook 2024

Recent report published by Research Nester titled “Smart (Intelligent) Toilet Market: Global Demand Analysis & Opportunity Outlook 2024″ delivers detailed overview of the global smart (intelligent) toilet market in terms of market segmentation by type, by usage, by distribution cha

Recent report published by Research Nester titled Smart (Intelligent) Toilet Market: Global Demand Analysis Opportunity Outlook 2024delivers detailed overview of the global smart (intelligent) toilet market in terms of market segmentation by type, by usage, by distribution channel and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porters five force model.

The global smart (intelligent) toilet market is segmented into type such as wall hung toilet, close-coupled, single floor standing toilet, one-piece toilet and others. Additionally, wall hung toilet segment is believed to capture the largest market in overall smart (intelligent) toilet market by 2024. Moreover, smart (intelligent) toilet segment is anticipated to mask a significant CAGR over the forecast period. In addition to this, expansion of urban population across the globe and adoption of innovative toilets by hospitality sector are the major factor propelling the growth of smart (intelligent) toilet market.

Global smart (intelligent) toilet market is expected to register a CAGR of 13.8% over the forecast period. Moreover, the global smart (intelligent) toilet market is projected to reach at notable revenue over the forecast period. The market is expected to expand on the account of growing popularity of stylish bath products such as smart toilet among the population.

Further, with 70% share, the commercial segment by usage is believed to be the largest segment in overall smart (intelligent) toilet market. Further, robust expansion of hospitality sector across the globe is envisioned to intensify the growth of smart (intelligent) toilet market. In terms of regional platform, North America region captured the largest market of smart (intelligent) toilet market in 2016 aided by U.S. Further, the expansion of smart (intelligent) toilet market in North America region is attributed to the presence of major key players such as Kohler.

Technological advancement in sanitaryware

Increasing integration of smart technology into sanitaryware products coupled with growing adoption of innovative technology by consumers is projected to boost the demand for smart (intelligent) toilet. Furthermore, these advancements and continuous innovation is the major driving force which is anticipated to propel the growth of smart (intelligent) toilet market.

In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

Swelled disposable income

Rapid urbanization along with rise in purchasing power has led the consumer to invest more on technologically advanced and luxury products which are likely to positively impact the growth of smart (intelligent) toilet market. Additionally, positive GDP figures of developed and developing nations such as U.S., China and others is also expected to fuel the growth of smart (intelligent) toilet market.

On the contrary, high cost associated with smart (intelligent) toilet and low adoption rate regarding smart technology due to high cost in underdeveloped and developing nation are anticipated to hamper the growth of smart (intelligent) toilet market during the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global smart (intelligent) toilet market which includes company profiling of Roca Sanitario S.A., Caroma, DXV American Standard, Toto Neorest, Kohler, Costco, Mansfield, Saniflo, Niagara and NIU Smart Toilet. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

On the whole, the report depicts detailed overview of the global smart (intelligent) 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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