August 31, 2022 09:13 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Aug. 31, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Smart Toilet Seat Cover Market finds that the increase in construction activities is expediting market growth. Primarily driven by utilization of smart toilets in the hospitality sectors, the total Global Smart Toilet Seat Cover Market is estimated to reach USD 760.0 Million by the year 2028.
The Global Market revenue stood at USD 389.2 Million in the year 2021; the Market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 11.80%.
Furthermore, the growing technological advancements worldwide are also anticipated to augment the growth of the Global Smart Toilet Seat Cover Market, states Vantage Market Research, in a report, titled “Smart Toilet Seat Cover Market Size, Share & Trends Analysis Report by Function (Cleansing, Nightlight, Heated seat, Deodorizing seat), by Connectivity (Remote control, Mobile phones, Others), by End-use (Residential, Commercial), by Price (Low, Medium, High), by Distribution Channel (Online, Offline), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
Key Industry Findings & Insights from the report:
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Increase in the Construction Activities to Fuel Global Smart Toilet Seat Cover Market
The considerable increase in the construction activities is expected to fuel the growth of the Smart Toilet Seat Cover Market during the forecast period. This is attributable to the increased focus of the government on infrastructure projects and smart recovery of demand which is expected for both residential as well as commercial segments. Furthermore, the rising automation in public spaces and rising awareness about antibacterial construction materials is also expected to support the demand for smart toilet seat covers in the years to come. More hygienic technologies have been deployed in many public infrastructure improvement projects to achieve lower carbon footprint. Additionally, the rising urbanization and disposable income of the consumers is also allowing consumers to spend more on luxurious lifestyles with smart homes that are equipped with more smart products and features.
Growing Utilization of Smart Toilets in the Hospitality Sectors to Augment Market Growth
The rising utilization of smart toilets in the hospitality sectors is anticipated to augment the growth of the Smart Toilet Seat Cover Market within the estimated period. The hospitality sector is playing a very significant role in increasing the product’s adoption owing to the shifting inclination towards bathroom decoration as a part of lavish home décor along with the expansion of the hospitality industry across the globe. Additionally, the increase in popularity of the internet of things technology or the sensor technologies and voice-controlled equipment at the global level is also expected to fuel the market growth over the next few years. However, higher price of the product along with dominance of traditional toilets over smart toilets are expected to hamper the growth of the market in near future. Moreover, the rise in implementation of smart technologies specifically in emerging economies is further expected to open new market avenues within the estimated time period.
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Benefits of Purchasing Smart Toilet Seat Cover Market Reports:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the consumer goods industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
The report on Smart Toilet Seat Cover Market highlights:
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North America to Dominate the Global Smart Toilet Seat Cover Market
North America has dominated the Global Smart Toilet Seat Cover Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the increased consumer spending on maintaining bathroom hygiene in the region. Furthermore, the rising preference to install intelligent toilet seats in the region along with increasing penetration of internet of things (IoT) are also anticipated to encourage the adoption of smart toilet seat covers.
Asia Pacific is expected to grow at a fastest CAGR during the forecast period. This is attributable to the rising construction activities in population economies such as China and India in the region. Additionally, increase in spending on bathroom equipment and accessories owing to the rising income of the consumers are also expected to support the regional growth of the market.
List of Prominent Players in the Smart Toilet Seat Cover Market:
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Smart Toilet Seat Cover Market Size, Share & Trends Analysis Report by Function (Cleansing, Nightlight, Heated seat, Deodorizing seat), by Connectivity (Remote control, Mobile phones, Others), by End-use (Residential, Commercial), by Price (Low, Medium, High), by Distribution Channel (Online, Offline), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
May, 2021: Xiaomi announce the launch of the Tinymu Smart Toilet Cover Pro-H Version under crowdfunding in China. The smart toilet seat is a trimmed version of the Tinymu Smart Toilet Seat Cover AI version with XiaoAI Assistant that was released in 2018.
Key Questions Answered in The Report:
This market titled “Smart Toilet Seat Cover Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
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