Rapid Urbanization and Changing Consumer Preference for Elite Products to Push Smart Toilet Seat Market Up-hill
The concept of the smart toilet seat is booming across the world owing to the raising awareness about hygiene among people. It is a perfect blend of technology, providing high level of cleanliness and comfort. Smart toilet seats include features such as voice control, sensors, water-saving technology, temperature setting, flushing systems, among others. These are meant to be eco- friendly and economical for users. Rapid urbanization and changing consumer preference for elite products is a major factor shaping the smart toilet seat market growth. Additionally, the evolving lifestyle coupled with the rising high-net-worth individual (HNWI) across the world is expected to heighten the market globally.
The DecisionDatabases.com report predicts the global smart toilet seat market to expand at a CAGR of close to 6.89% between 2018 and 2024. Soaring at this rate, the market will likely attain a value of US$ 40.56BN by 2024 from US$ 25.44 BN valued in 2017.
The latest trend gaining momentum in the smart toilet seat is the ultra-modern bathroom that includes a variety of bathroom products. The rising commercial as well as residential construction activity in Asian countries like China and India is expected to boost the market growth for smart toilet seat in the near future. Asian region is followed by U.S and Europe markets. These are expected to grow at a healthy rate since they consider personal hygiene and lifestyle statement is of prime importance. Consequently, rising in commercial buildings, suchas restaurants, offices, and hotels, is projected to drive the demand for smart toilet seats globally.
Presently, rising concern over the need to conserve water resources is one of the primary goals of major smart toilet seat manufacturers. The rising population has increased the need for water sustainability. The construction of commercial buildings is on the rise, thereby increasing the consumption of water. In addition, Flush toilets are one of the largest water users in a building or home. Aforementioned are the major factors that will spur the demand for smart-toilet seat globally.
However, the major constraint for the smart toilet seat is its limited accessibility to the high income group due to its high price.
The report segments the market by end user and geography. An elaborate study of residential sector and commercial sector is covered in the report defining which owns the largest market share. Geographically the smart toilet seat market is studied in North America (NA) – US, Canada & Rest of North America, Europe (EU) – UK, Germany, France & Rest of Europe, Asia Pacific (APAC) – China, Japan, India & Rest of APAC, Latin America (LA) – Brazil & Rest of Latin America, and Middle East & Africa (MEA) – Middle East and Africa.
The report also covers the detailed profiles of major companies operational in this market. The profiling includes overview of the company, its product details, latest news along with recent mergers and acquisitions. Some companies profile in the study are Kohler, LIXIL, Panasonic and TOTO among others.
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