Global Smart Faucets Market by Application (Commercial, Residential), by Distribution Channel (Brick & Mortar, Online) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global smart faucets market was worth USD 301.9million. The market will grow if consumers shift to smart faucets because of the high level of luxury and convenience it offers. These advanced technologies allow for better monitoring and control of water consumption in households every day.

Smart home technology has become the preferred choice of consumers. This includes smart faucets, smart bathrooms, electronic appliances, clocks, and even smart clocks. Smart faucets are slowly rising in popularity in smart home portfolios. These faucets are equipped with motion sensors, touch sensors and temperature gauges, which allow customers to control and monitor their water usage in the kitchen and bathrooms.

These products also offer hands-free technology via various sensors and internet connectivity. This adds luxury, connectivity and convenience to the customers' lives. The environment is better off with touchless faucets. They save water at home and in commercial settings. People waste water from conventional faucets. These technological products can help reduce water waste. These factors will increase the utility of smart faucets during the forecast period.

Manufacturers are using new technologies to improve connectivity and ease of use in the kitchen as well as bathrooms. In addition, industry players are looking to expand their product range by offering new products that incorporate artificial Intelligence (AI). GROHE AG, Kohler Co. are two of the leading manufacturers of sanitaryware. They have created a variety faucets that come in a range with multiple colors, innovative designs and smart connectivity.

Application Insights

In 2018, the market for smart faucets was dominated by the commercial segment, accounting for more than 60% of global revenue. Smart bathroom accessories, including touchless faucets, will be promoted by the rapid growth in the hospitality industry in developed countries such as the U.S. and Germany. The growth is expected to be influenced by the positive effects of government policies that support urban development in emerging economies like China and India.

The UAE has made significant investments in the development and operation of hotels, commercial and residential buildings, as well as tourist attractions, over the last few years. Alpen Capital's latest report states that the UAE hospitality market is expected to grow at 8.5% annually by 2022. This substantial growth in hospitality is expected to encourage the use of taps in commercial sectors.

Distribution Channel Insights

The largest channel for brick and mortar sales was brick and mortar, with a share exceeding 70.0% in 2018. Over the next few decades, the buyer base will be attracted by renovations and the inclusion of sanitary-ware specialists in company-owned stores like Kohler. They provide product assistance. Villeroy & Boch, a European company, announced plans in October 2017 to launch direct sales of bathroom accessories in North America. This will allow the product to be sold directly through more channels in the coming years.

Online is the fastest growing segment. It will grow at 12.7% CAGR from 2018 to 2025 due to the ease of shopping and convenience of the channels. The best platform to promote products is the increasing penetration of smartphones in countries like the U.S., Germany and Australia. E-commerce platforms, including Google Ads and social media, play an important role in influencing consumer preferences.

Regional Insights

North America was the largest market with a share exceeding 30.0% in 2018. This is due to the increasing number of smart home in Canada and the U.S. North America is one of the most visited countries in North America. The U.S. hotel industry is expected to have a positive outlook over the forecast period, which will encourage smart faucets.

Asia Pacific is expected to grow at the highest rate of growth, growing at 13.9% between 2019 and 2025. The growth of residential construction in emerging countries like China and India is expected to be positive due to an increase in real estate projects and supportive home loan assistance from banks at a national level. In the coming years, the visibility of the product will be increased by the increasing number specialty stores that sell sanitary ware from the mentioned countries.

Market Share Insights & Key Companies

Due to the presence of many companies, including Villeroy & Boch, LIXIL Corporation, Kohler Co. and LIXIL Group Corporations, Roca Sanitario S.A., CERA Sanitaryware Limited and CERA Sanitaryware Limited. The global market is consolidated. DELTA Faucet Company and Kohler Co. are key players in the market, adopting new product innovations to increase their market share and reach a wide customer base.

DELTA Faucet Company, for instance, launched its latest technologically advanced smart faucet in January 2018. It is powered by Alexa (an artificial intelligence) and was released by DELTA Faucet Company. It has Wi-Fi connectivity and voice recognition capabilities. Customers can adjust the water temperature by simply speaking a few words. The device can also turn on and off water supply, as well as adjust pressure.

Smart Faucets Market Report Scope

The Report Covers Certain Segments

This report forecasts revenue growth at both the country and global levels. It also provides analysis of industry trends for each sub-segment from 2015 to 2025. Grand View Research has divided the global smart faucets market report by application, distribution channel, region.

• Application Outlook (Revenue USD Million, 2015-2025)

  • Commercial

  • Residential

• Distribution Channel Outlook (Revenue USD Million, 2015-2025)

  • Brick & Mortar

  • Online

• Regional Outlook (Revenue USD Million, 2015-2025)

  • North America

    • The U.S.

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

These are the most frequently asked questions about this report

b. Global smart faucets market was valued at USD 337.2 million in 2019, and is forecast to grow to USD 377.0 million in 2020.

b. Global smart faucets market will grow at 12.0% compound annual growth rate from 2019-2025, reaching USD 6667.3 million by 2025.

b. With a 34.15% share in 2019, North America was the dominant market for smart faucets. This can be attributed to the growing hotel industry in North America, which was one of the most important travel and tourism markets worldwide.

b. The smart faucet market is dominated by Kohler Co. and LIXIL Group Corporation. Roca Sanitario S.A., CERA Sanitaryware Limited. Masco Corporation. Villeroy & Boch.

b. The market growth is driven by key factors such as shifting consumer preferences to smart home technology in households due to its high level of convenience, luxury, and advanced technology which allows for better monitoring and control of water usage in the household on a daily basis.

Up Market Research published a new report titled “Smart Faucets Market research report which is segmented by Application (Commercial, Residential), by Distribution Channel (Brick & Mortar, Online), By Players/Companies Kohler CoLIXIL Group Corporation, Roca Sanitario, Masco Corporation, SA, Villeroy & Boch, CERA Sanitaryware Limited”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Smart Faucets Market Report Segments:

The market is segmented by Application (Commercial, Residential), by Distribution Channel (Brick & Mortar, Online).

Smart Faucets Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Smart Faucets Market

Overview of the regional outlook of the Smart Faucets Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Smart Faucets Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Smart Faucets Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Commercial

                2. Residential

                1. Brick & Mortar

                2. Online

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Smart Faucets Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Smart Faucets Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.