Global Smart Faucets Market, By Distribution Channel (Brick and Mortar, Online), Application (Commercial, Residential), Material (Stainless, Brass, Other), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
For the 2021 to 2028 forecast period, the demand for smart faucets is projected to rise at a rate of 6.60%. The market report on smart faucets analyses the growth that is currently rising due to shifting customer preferences for smart home technology.
Smart faucets are a new device that slowly makes its way into our homes, equipped with temperature gauges and efficiency sensors that make it easy for every member of the home to control carefully how much water in the kitchen or bathroom they use. Smart faucets are built for smart connectivity using artificial intelligence (AI) technology and deliver high performance. This latest product development and the availability of different designs are expected to fuel market growth.
Rapid urbanization across the globe, increasing growth of the residential sector, changing lifestyle as well as improving standard of living of the people, rising preferences towards the usages of luxury and ergonomically designed products, improving aesthetics of the home and rising expenditure capacities of the consumers are some of the vital as well as major factors which will likely to augment the growth of the smart faucets market in the projected timeframe of 2021-2028. On the other hand, development of digital, hybrid and touch free faucets along with increasing number of promotional activities through advertisement or on social media and by celebrities, prevalence of improved distribution channel, increasing product adoption across residential, commercial and hospitality sectors which will further contribute by generating immense opportunities that will led to the growth of the smart faucets market in the above mentioned projected timeframe.
Easy availability of counterfeit brands and substandard faucets which will likely to act as a market restraint factor for the growth of the smart faucets in the above mentioned projected timeframe.
This smart faucets market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on smart faucets market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Faucets Market Scope and Market Size
Smart faucets market is segmented on the basis of material, distribution channel, and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of material, the smart faucets market is segmented into stainless, brass, and other.
- Smart faucets market is segmented in terms of market value, volume, market opportunities, and niches into multiple applications. The application segment for smart faucets market includes commercial, and residential. Commercial segment will attain maximum share due to the growth of the hospitality sector along with increasing number of tourism for business as well as for leisure.
- Based on distribution channel, the smart faucets market is segmented into brick and mortar, and online. Online segment is expected to be the fastest growing segment due to the ease of convenience and shopping associated with channels along with rising demand of smartphones in various economies.
Smart Faucets Market Country Level Analysis
Smart faucets market is analysed and market size, volume information is provided by country, material, distribution channel and application as referenced above.
The countries covered in the smart faucets market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The U.S. and Canada dominates the North America smart faucets market due to the growth of the tourist sector along with prevalence of various market players and adoption of internet of things and advanced technology in the region. Asia-Pacific region is expected to hold the largest growth rate in the smart faucets market due to the increasing number of real estate projects, growth of the residential construction sector along with rising number of speciality store on sanitary ware in India, and China.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Faucets Market Share Analysis
Smart faucets market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart faucets market.
The major players covered in the smart faucets market report are LIXIL Group Corporation.; Kohler Co.; CERA Sanitaryware Limited.; Roca Sanitario, S.A.; TOTO LTD.; Masco Corporation; Villeroy & Boch AG; DELTA FAUCET COMPANY; Hansgrohe; Colston Bath.; Franke Management AG; Globe Union Industrial Corp.; GROHE; Jaquar; Moen Incorporated; Oras Ltd.; Canac; Sloan Valve Company; Fortune Brands Home & Security, Inc.; Spectrum Brands, Inc.; Gerber Plumbing Fixtures LLC; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.