Smart Faucets Market Size Worth $667.3
Million By 2025
The global smart faucets market is estimated to reach USD 667.3 million, by 2025, and is projected to grow at a CAGR of
12.0% from 2019 to 2025. The increasing penetration of smart home connectivity technology due to the rising luxury
lifestyle changes among middle class age group mainly contributing to market growth. In addition, the growing tourism
& travel sector especially in countries such as the India, Germany, China and France is boosting the demand for the
The growth of the hospitality industry especially in developed countries such as Germany, the U.S., and France is
increasing market growth. According to Department of Commerce, the number of foreign travelers coming in the U.S. is
growing at a rate of 2.7% in the past three years. Moreover, the increasing business of tourist & travel is expected to
increase the demand for the touchless faucets in the next few years.
For instance, in 2018, Rosewood hotels & resorts has announced to open luxurious hotel in U.S. moreover, the company
is also planning to open 150 room hotels in the Texas. These expansions are expected to boost the demand for the
product in the North American market.
North America dominated the smart faucet market in 2018, owing to the increasing penetration of internet in the U.S.
Moreover, the manufacturers focus on developing new products based on smart technology. These new product
innovations are expected to increase the demand for faucets.
For instance, in 2017, Kohler Co., introduced experience centers to improve the scope of their exclusive stores. These
centers helps in engaging with customers, and understanding consumer buying behavior. These experiences, and
engagement allows companies focus on targeting consumer base to gain advantage over other players. Kohler is spread
across the major cities such as London, Los Angeles, New York, Shanghai, Singapore, New Delhi, Hong Kong, Dubai,
Bangkok, and Taipei.