Covid-19 Update: Global Smart Soap Dispenser Market is expected to grow at a CAGR of 13.5% over the Forecast Period, Owing to Surging Demand for Contactless Soap Dispensing Solution to Ensure Optimum Hygiene, says Absolute Markets Insights
The growing concerns pertaining to hand hygiene owing to the prevalence of multitude illness across the globe, has revolutionized the demand in the global smart soap dispenser market. The on-going threat emerging from the transmission of corona virus is majorly contributing towards the growth of global smart soap dispenser market. In the wake of this pandemic situation, consumers are largely considering towards upgrading their residential premises with technologically advanced solutions, to ensure optimum hygiene. The manufacturers globally are experiencing a rapid increase in the demand for smart soap dispensers. For instance, simplehuman a California–based kitchen, bath and beauty tools manufacturer reported that it experienced exponential demand for its hygiene-based products, including smart soap dispenser, in March 2020.
The outbreak of COVID-19 has substantially complemented the global smart soap dispenser market and is expected to further proliferate its growth over the forecast period. Hand hygiene has been identified as the sole best solution for prevention and reduction in the spread of the deadly virus. The guidance issued by World Health Organization (WHO) strictly indicates the deployment of dispensers across all point-of-care areas for healthcare workers. In order to leverage the ongoing situation, the market participants are investing towards development of innovative solutions to cater most effectively to the burgeoning demand. For instance, Hokwang Industries Co., Ltd., a China-based soap dispenser manufacturer, introduced a hands-free soap dispenser, which can be converted into a foam soap dispenser or liquid soap dispenser, by changing the soap pump within the unit. The pandemic is anticipated to leave behind an evident surge among the consumers to adopt a hygienic lifestyle, which is expected to further enhance the demand for global smart soap dispenser market over the next eight years.
The fundamental increase in the construction industry, with substantial rise in the building of smart homes is another factor which is driving the demand for global smart soap dispenser market. The construction industry at large is procuring automated solutions for different areas in the residential and commercial premises, to ensure convenience and simultaneously enhance the aesthetic appeal of the infrastructure. Similar large-scale investments by these industries are expected to supplement the market growth over the forecast period.
In terms of revenue, global smart soap dispenser market was valued at US$ 412.91 Mn in 2018 and is anticipated to reach 1284.45 Mn by 2027, growing at a CAGR of 13.5% over the forecast period. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The detailed research study provides qualitative and quantitative analysis of smart soap dispenser market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Global Smart Soap Dispenser Market Share in 2018, By Region
Key Findings of the Report:
- The global smart soap dispenser market was valued at US$ 412.91 Mn in 2018 and is anticipated to witness a compound annual growth rate of 13.5% over the forecast period.
- The wall-mounted smart soap dispenser variant held the highest share in 2018, owing to increased deployment of these units across commercial facilities owing to the provision of large capacity.
- The commercial end use segment is expected to register highest growth rate over the forecast period owing to increased demand from hospitals and public facilities.
- North America accounted for the maximum share in the global smart soap dispenser market in 2018. The growing disposable income is largely contributing towards this demand.
- Some of the players operating in the smart soap dispenser market are American Specialties, Inc., Bobrick Washroom Equipment, Inc., BRIGHT PANCAR SDN. BHD., Hokwang Industries Co., Ltd., Kohler Co., Liberty Industries, Lovair, ORCHIDS INTERNATIONAL, Shenzhen SVAVO Intelligent Technology Co.,Ltd, Simplehuman, Toshi Automatic Systems Pvt. Ltd., TOTO LTD., Umbra and ZAF ENTERPRISES amongst others.
Global Smart Soap Dispenser Market:
- Less than 500 ML
- More than 500 ML
By Soap Type
- Foam Soap
- Liquid Soap
By End Use
- Hotels & Restaurants
By Sales Channel
- North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America