FELTON, California, July 15, 2020
FELTON, California, July 15, 2020 /PRNewswire/ -- The global smart toilet market size is anticipated to touch USD 12.7 billion by 2025, according to a new report by Million Insights, Inc. The market is estimated to expand at a CAGR of 10.3% from 2019 to 2025. Growing awareness about proper hygiene across the world is attributing to the growth of the market. Further, growing urbanization has led to the construction of smart homes, which, in turn, is projected to bode well for the growth of the smart toilet over the forecast period.
Different governments across the globe are emphasizing on creating awareness about water conservation. Countries such as China, France, Germany India, Australia and South Africa are facing a huge water crisis. Thus, growing water scarcity across the globe is expected to proliferate the demand for water-saving smart toilets.
The commercial segment accounted for a revenue of 4.6 billion in the year 2018. Major end-users in this segment are restaurants, bars, malls and hotels. Growing focus on aesthetically appealing bathroom solution is bolstering the growth of this segment. Further, rise in spending in real estate sector in countries such as India, Mexico, Brazil and China is creating a lucrative opportunity for the smart toilet market players.
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The offline sales channels accounted for USD 5.3 billion of revenue in the year 2018. Option of physically verifying the products at stores attract a huge consumer base. Also, these bricks and mortar shops offer after-sales support thereby, ensuring customer satisfaction.
Asia Pacific is estimated to grow at the fastest CAGR of 12.8% over the forecast period. Countries such as India, China, Japan, Singapore and Australia are major end-users of the smart toilets. Factors such as favorable government initiatives and rise in middle-class purchasing power are supplementing the demand for the region.
Further key findings from the report suggest:
Browse 80 page research report with TOC on "Global Smart Toilet Market" at: https://www.millioninsights.com/industry-reports/global-smart-toilet-market
Million Insights has segmented the global smart toilet market on the basis of application, distribution channel, and region:
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