Rising adoption of smart appliances in modular kitchen and smart bathrooms and increasing awareness of energy efficient appliances are the leading factors driving the global Smart Faucets Market during the forecast period.
According to TechSci Research report, “Smart Faucets Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” The smart faucet market is being driven by various factors such as increasing water conservation initiatives, surging marketing tactics, and increasing demand from commercial sector (such as malls and hotels etc.).
With the past record of diseases such as COVID-19, it is important to prevent the spread of germs and bacteria, and a smart faucet is considered as a significant help in restraining this communicable disease with the help of smart sensor technology. As the product involves features where the customers can control the water flow without touching the faucets and it keeps the kitchen sink and tap clean in order to prevent smudges and fingerprints which are left on the traditional faucets post usage.
One of the most important benefits of upgrading to a smart faucet is the ability to monitor water usage through smartphone. Customers can use the app to monitor water consumption levels in all rooms where faucets are installed.
Based on material type, the Smart Faucets market is segment into stainless steel, brass, and others (zinc alloy etc.). The non-porous surface of stainless-steel faucet is more resistant to bacteria and germs. Therefore, it is considered to be a more hygienic option in the kitchen or bathroom. Furthermore, it is oxidation resistant, hence it is suitable for outdoor installation.
Another type is brass faucets that are commonly made of H59 or H62 copper (brasses that contain 59% and 62% copper, respectively). It does not corrode when exposed to soft water for an extended time period or calcify when exposed to hard water for an extended period of time.
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The Smart Faucets market is segmented based on material type, application, distribution channel, and region.
Based on material type, the market is further fragmented into stainless steel, brass, others (zinc alloy etc.). The stainless steel is expected to boost the market growth on account of its benefits such as stainless steel does not contain nickel, and thus can be used by customers who are allergic to it.
Based on application, the market is further bifurcated into residential and commercial. The residential segment is expected to fuel the market on account of adoption of smart bathroom fixture in modular kitchen and smart bathrooms. With growing construction activities for housing societies, surging standard of living, and rising preference for enhancement of home esthetics, the market is expected to grow significantly.
Based on distribution channel, the market is divided brick & mortar and online. The term “brick-and-mortar” refers to a traditional street-side business that serves its clients face-to-face products and services in an office or store that the business owns or rents for e.g., local bathroom fixture store. The increasing demand of smart faucets from online sales channel is expected to fuel the market growth during the forecast period on account of surging marketing tactics.
Based on region, the market is divided into Asia-Pacific, North America, Europe, Middle East & Africa, and South America. Asia-Pacific has been a significant market for Smart Faucets because of the increasing construction activities in commercial sector with the coming up of new malls and restaurants in emerging countries such as India, Indonesia, Bangladesh etc.
Key market players in the Smart Faucets market include:
- Moen Incorporated
- Kohler Co.
- Masco Corporation
- TOTO Ltd.
- LIXIL Corporation
- Kraus USA Plumbing LLC
- Roca Sanitario, S.A
- CERA Sanitaryware Ltd
- Oras Ltd.
- Jaquar & Company Private Limited
Globally, companies are launching various products with smart features to capture the market of Smart Faucets. For instance, Delta Faucet Company, an American-based brand, launched voice activated Smart Faucets in 2019. Delta VoiceIQ Technology is the unique technology that drives this smart innovation. The company introduced new technology, which forms a four-inch field around the faucet to allow for hands-free operation. Unlike others, it does not utilize infrared or optical technology but has a two-second reaction time when the user removes their hands. The product is designed to sync customers sink with existing devices such as smartphones and smart speakers powered by Amazon’s Alexa or Google Assistant, that will receive voice instructions. Delta’s investment on this smart home scheme is based on their estimate that 20% of all Wi-Fi-enabled houses have a connected home device. Thus, launching of innovative products within fixtures for regular usage is expected to fuel the growth of market during the forecast period.
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“The Smart Sensor Faucets with temperature control and wide variety of features is a significant trend that is expected to impact growth over the projected period. The increasing awareness of energy efficient appliances, rising water conservation initiatives, and increasing demand from commercial sector such as malls and hotels are the leading factors that are expected to positively impact the smart faucets market. The availability of wide range of products with smart features to meet the specific needs of customers and the growing popularity of the e-commerce channel, will boost the market growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Smart Faucets Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Material (Stainless Steel, Brass, Others (Zinc Alloy etc.), By Application (Residential, Commercial), By Distribution Channel (Brick & Mortar, Online), By Region, Competition, has evaluated the future growth potential of Smart Faucets market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in products of Smart Faucets.
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