Global smart toilet market reached more than USD 1 Billion in 2016 and is anticipated to register a CAGR of 12% across the globe. Moreover, the market is expected to garner USD 2 Billion by the end of 2024. The global demand for smart toilet is increasing due to the increasing utilization of smart toilet in the hospitality sector. Further, growing premium commercial real estate sector is anticipated to drive the future adoption of smart toilets. Further, penetration of internet of things (IoT) into washroom is also expected to positively impact the growth of the global smart toilet market over the forecast period.
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The market of smart toilet is anticipated to achieve a Y-o-Y growth rate of 13.9% in 2024 as compared to the previous year. Moreover, expansion of mobile based smart toilet market is expected to create huge opportunities for the sanitary manufacturers and this would further expand the smart toilet market in near future.
Asia Pacific is slated to account for a leading share of more than 50% by 2024 in the smart toilet market. Expansion of hospitality sector and swelled disposable income of the consumers in the region is anticipated to provide growth opportunities for the key players. Further, changing lifestyle of the consumer along with adoption of luxury products is expected to positively drive the growth of the market.
Kohler, DXV American Standard, TOTO Ltd., Roca Sanitario, S.A., are some of the prominent players in the smart toilet market. Amongst them, TOTO has captured the major market share in the global smart toilet market in 2017
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This post was originally published on Business Analytics