SENSOR FAUCET MARKET ANALYSIS
Global Sensor Faucet Market: Regional Insights
The market for sensor faucet in Asia Pacific is expected to witness significant growth with highest CAGR over the forecast period. This is owing to increasing development of smart city and government initiatives for smart city projects in emerging economies such as India and China. For instance, in 2015, Government of India launched '100 Smart Cities Mission', which is expected to further increase construction of smart buildings. Therefore, increasing construction of smart buildings contributes to high demand for installation of sensor faucets in the buildings. Moreover, increasing disposable income and changing lifestyle of consumers has led to adoption of solutions that are more convenient to operate. For instance, according to the Coherent Market Insights’, disposable income of consumers in India in 2017 was US$ 2.63 billion, which increased from US$ 2.27 billion in 2016. Therefore, all these factor are expected to drive growth of the market in Asia Pacific.
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