With 58.9% CAGR, Smart Flooring Market Size Worth USD 5,873.3 Million by 2030
According to Fortune Business Insights, the global Smart Flooring Market size is projected to reach USD 5,873.3 Million by 2030, at a CAGR of 58.9% during the forecast period, 2023-2030
Pune, India, April 17, 2023 (GLOBE NEWSWIRE) — The global smart flooring market size was valued at USD 151.7 million in 2022 and is expected to be worth USD 230.1 million in 2023. The market is projected to touch USD 5,873.3 million by 2030, registering a CAGR of 58.9% during the forecast period of 2023-2030. Rising Use of Smart Floors across Retail Sector and Kinetic Dance Floors to Augment Market Growth. Fortune Business Insights™ displays this information in a report titled, “Global Smart Flooring Market Forecast, 2023-2030.”
Key Industry Development:
April 2021: Pavegen installed a kinetic tech floor at the U.K.’s first train station. The U.K. transport center uses kinetic energy generated by travelers’ footsteps. The project was introduced in partnership with the Central Bedfordshire Council and Pavegen at the Leighton Buzzard train station.
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Smart or intelligent flooring refers to an integrated sensor & microelectronics underlay that can be used in a wide range of floorings such as PVC, carpet, and laminate. It helps customers keep a track of people’s speed, spills, falls, and gait without using any pressure sensors. Apart from tracking movements, some innovations in these solutions can also help generate electricity. These innovations have made the technology quite popular in different industry verticals.
For example, in November 2021, the Pavegen pathway was set up at the COP26 UNFCCC Pavillion. Every footstep across the array generated around 2-5 joules of kinetic energy, which was converted into cash donations that were given to ocean clean-up charities.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2021 to 2028 CAGR | 58.9% |
| 2030 Value Projection | USD 5,873.3 Million |
| Base Year | 2022 |
| Smart Flooring Market Size in 2022 | USD 151.7 Million |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 130 |
| Segments covered | Component, Application, End-user and Geography |
| Smart Flooring Market Growth Drivers | Rising Awareness of Benefits of Smart Flooring Solutions is Driving Market Growth |
Key Takeaways
- Smart Floors across Retail Sector and Kinetic Dance Floors to Augment Market Growth
- Smart flooring technology also has potential applications in hospitals and other related medical facilities including retirement homes.
- By Component Analysis: Surge in Use of Smart Fabrics and Smart Carpets to Enhance Adoption of Hardware
- Smart Flooring Market North America was USD 57.1 Million in 2022
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Drivers and Restraints:
Rising Awareness of Benefits of Smart Flooring Solutions is Driving Market Growth
Floor sensors are often mounted on devices to produce data. This data is utilized for several purposes such as people management and energy conservation.
Smart homes and buildings have been using IoT sensors for quite some time as these sensors are mainly installed in smart devices or ceilings. However, recent innovations in IoT technology have made users more aware of the advantages of installing smart floors.
Key companies in the market are partnering with leading solution providers to enhance their business capabilities. This strategy helps them combine their world-class expertise with the acquired company’s capabilities. Since the market is still growing, these firms aim to create their solutions according to their customers’ changing requirements. For example, Pavegen announced its partnership with Google to develop the biggest energy-harvesting walkway at the Berlin Festival of Lights. The 26-square meter walkway deploys the company’s new V3 flooring system, which is combined with 100-electro-magnetic generators that light up 176 colored light panels. These developments will boost the product adoption.
Smart flooring is a sensitive floor system that consists of walkable solar panels, sensors, big data, and interactivity. It uses several smaller circuits that are integrated into larger ones. This process can dramatically increase the overall cost of integration and installation.
As this technology is still new, the installation cost of smart flooring is much higher as compared to that of the traditional flooring system. This factor can make small- and medium-sized enterprises reluctant to implement this technology, thereby restraining the smart flooring market growth.
Segments:
High Use of Smart Carpets and Smart Fabrics to Boost Adoption of Hardware Components
Based on component, the market is segmented into hardware and software. The hardware segment is predicted to capture the largest market share during the forecast period.
Hardware components have a vast range of applications, such as smart fabrics, sensors, smart carpets, and smart mats, which will drive their usage. Many companies and institutes in the industry are bringing innovations in their products by using smart technology.
Commercial Sector to Increase Usage of Flooring Solutions
Based on end-use, the market is divided into commercial and residential. The commercial segment generated the highest revenue for the market in 2022, and is expected to register the highest CAGR during the forecast timeframe.
Corporate offices are becoming more aware of various smart technologies and want to adopt them to help the office staff manage the functional space of these establishments more effectively. As the data from the flooring sensors can be sent directly to a mobile dashboard or control center, it helps managers monitor the building from any location.
Healthcare & Rehabilitation Centers to Use Smart Floorings to Keep Track of Patient Health
Based on application, the market is divided into healthcare & rehabilitation, gaming & sports, retail, security, smart homes, events, and others.
According to the FBI analysis, the healthcare & rehabilitation segment captured a sizeable market share in 2022. The demand for intelligent flooring in nursing homes and care homes has increased considerably as these solutions offer enhanced safety, easier & faster fall detections, and proactive care. Many senior living centers and care homes have already started using smart floors to offer better amenities.
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Regional Insights:
North America led the smart flooring market share in 2022 as the region is witnessing a robust rise in the implementation of smart technologies. North America is also increasingly adopting smart buildings to conserve energy and reduce carbon footprint. The U.S. and Canada are hot spots for top events, such as sports leagues, music festivals, and product/service launches, which will further boost the scope of flooring applications. This is why key companies in the market are expanding their reach in the North American region.
Competitive Landscape:
Key Companies Increase Focus on Global Expansion to Strengthen their Market Position
The leading players in the market are trying to develop smart technologies in various applications such as retail, gaming & sports, security, healthcare, and rehabilitation. Participating in funding rounds to get the required funds to kick-start the development of these smart building technologies is one of the key strategies used by many businesses. Likewise, market players enter into strategic collaborations and alliances across the world to fortify their market position.
LIST OF LEADING ORGANIZATIONS PROFILED IN THE REPORT
- Pavegen (U.K.)
- Future-Shape Gmbh (Germany)
- Scanalytics Inc. (U.S.)
- Energy Floors (Netherlands)
- MariCare (Finland)
- Technis SA (Switzerland)
- Wixalia (France)
- American Pro Marketing, LLC. (Smart Step) (U.S.)
Major Table of Contents:
- Global Smart Flooring Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Component
- Hardware
- Software
- By End-user (USD)
- Commercial
- Residential
- By Application (USD)
- Healthcare & Rehabilitation
- Gaming & Sports
- Security
- Retail
- Smart Homes
- Others
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Smart Flooring Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Component
- Hardware
- Software
- By End-user (USD)
- Commercial
- Residential
- By Application (USD)
- Healthcare & Rehabilitation
- Gaming & Sports
- Security
- Retail
- Smart Homes
- Others
- By Country (USD)
- United States
- Canada
- Mexico
- South America Smart Flooring Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Component
- Hardware
- Software
- By End-user (USD)
- Commercial
- Residential
- By Application (USD)
- Healthcare & Rehabilitation
- Gaming & Sports
- Security
- Retail
- Smart Homes
- Others
- By Country (USD)
- Brazil
- Argentina
- Rest of South America
- Europe Smart Flooring Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Component (USD)
- Hardware
- Software
- By End-user (USD)
- Commercial
- Residential
- By Application (USD)
- Healthcare & Rehabilitation
- Gaming & Sports
- Security
- Retail
- Smart Homes
- Others
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FAQ’s
How big is the smart flooring market?
Smart Flooring Market size was USD 151.7 Million in 2022
How fast is the smart flooring market growing?
The Smart Flooring Market will exhibit a CAGR of 58.9% during the forecast period, 2023-2030
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