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Global Residential Digital Faucets Market - Growing Online Sales to Drive Growth | TechnavioThe global residential digital faucets market is expected to grow at a CAGR of more than 10% during the period 2017-2021, according to a new market research study by Technavio. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171123005052/en/ 
Technavio has published a new report on the global residential digital faucets market from 2017-2021. (Graphic: Business Wire) The report presents a detailed analysis of the global residential digital faucets market by mode of operation (automated and manual); by mounting type (countertop and wall-mounted); by application (bathrooms and kitchen faucets); and by distribution channels (offline and online). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Market driver: growing home improvement market The rising global housing market and growing home improvement market are expected to drive the growth of residential digital faucets. Property owners are investing heavily in their properties to attract new tenants. This is driving the growth of the home improvement industry in the Americas and Europe. According to Tamal Saha, a lead analyst at Technavio for retail goods and services research, "The aging housing tock also drives the growth of the home improvement industry worldwide. With the growth in the global population and increase in the number of households, there is a huge demand from the housing industry. The construction of new houses and buildings is creating a demand for residential digital faucets. The home improvement market is expected to be a key market for the expansion of the global residential digital faucets market during the forecast period." Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Market trend: growing online sales of digital faucets The increasing online sales of digital faucets is an emerging trend that is expected to drive the global residential digital faucets market during the forecast period. Key leading vendors in the market such as Masco, LIXIL Group, and Spectrum (News - Alert) Brands have shifted their business models toward the sale of products through online distribution channels. These vendors have a tie-up with various e-retailers such as Amazon.com (News - Alert), Home Depot Product Authority, build.com, and Lowe's to promote and market faucets and fittings. Market challenge: longer replacement cycles of metallic faucets Manufacturers and retailers are witnessing a decline in the number of new and repeat purchases of metallic faucets. This is because of longer product replacement cycles. This is a major challenge faced by emerging economies in APAC and MEA. Consumers in developing countries are not willing to spend repeatedly on home improvement because of their limited purchasing power. This results in longer product replacement cycles, which adversely affects repeat sales of the product. Metallic residential digital faucets face a challenge in terms of repeat sales, however this is off-set by the current rise in demand emerging from the boom in the residential construction industry. Is your business on track for a successful future? Learn how Technavio can help Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions. Key vendors in the market
The global residential digital faucets market is concentrated with the presence of a few international and domestic players. Market vendors with superior technical support and financial resources have the potential to manufacture standard quality products. The key vendors are planning to expand in emerging regions such as APAC and MEA because they present a huge potential for growth. The market is expected to grow rapidly in emerging countries in APAC and MEA owing to the improving living standards, increasing purchasing power of residential consumers and the current boom in residential construction. Get a sample copy of the global residential digital faucets market free of cost. Access Technavio's continuously growing retail goods and services research library and find expert analysis on hundreds of markets. About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20171123005052/en/ |
