Smart Faucets Market To Be Fueled By Stainless Steel Segment During The Forecast Period
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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