Multiple Factors Driving Growth in Global Smart Bathroom Market
The global smart bathroom market is forecasted to grow at a CAGR of more than 10% from 2016-2020.
The global smart bathroom market is forecasted to grow at a compound annual growth rate (CAGR) of more than 10% from 2016-2020, according to a recent report from Technavio. The report lists touchless faucets, cisterns, soap dispensers, hand dryers, smart windows and smart toilets as the major segments in the global smart bathroom market. According to Technavio, the following three factors are contributing to the growth of the global smart bathroom market: development of smart cities; wider adoption in urban areas; and a rise in global freight and passenger traffic.
Smart bathrooms are an important feature of buildings in smart cities, as they help conserve energy and water. Special drainage systems are installed in smart bathrooms to avoid water wastage. The water used for showering is converted to greywater, which is used for secondary activities such as flushing. The water used for flushing is treated again for other purposes such as gardening.
According to the UN estimates, 53% of the world’s population resides in urban areas as of 2015. The proportion is likely to increase to 58% by 2019. Urbanization directly affects the construction market. Growth in urban population leads to issues like air pollution, space congestion, resource depletion, and power crisis. In addition, migration from rural to urban areas increases the stress on infrastructure and utilities, leading to numerous engineering, social, economic, and environmental challenges. In order to overcome these difficulties, construction companies worldwide are focusing on the development of smart buildings with features such as smart bathrooms to promote sustainable development and efficient energy management. Smart bathrooms offer optimally integrated solutions such as smart toilets, automatic flush systems, and automatic faucets. As a result, the demand for smart bathrooms, especially in urban areas, is increasing significantly.
The number of air and rail passengers has increased substantially worldwide during 2011-2015, and is expected to increase further during the forecast period. Airlines have increased the number of flights to meet the growing demand. The UAE-based Emirates, the largest airline in the Middle East region, flew more than 90 million people (including international) passengers in 2015. In order to accommodate the growing air traffic, governments globally are focusing on new airport construction and expansions of existing airports, leading to an increase in the demand for building features such as smart bathrooms. The governments in the Middle East are investing heavily in the construction, expansion, and revamp of their airline industries to accommodate the increasing number of airlines and commuters. The government of China is also focusing on the development of new airports in the country to de-stress the transportation network. It has proposed the New Urbanization Plan 2014-2020, under which it looks to increase the total number of airports in the country from 193 in 2013 to 230 by 2015.
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