Portland, OR, Feb. 26, 2020 (GLOBE NEWSWIRE) -- According to the report published Allied Market Research, the global robotic lawn mower market held $538 million in 2017, and is expected to generate $1.43 billion by 2025, growing at a CAGR of 12.9% from 2018 to 2025. The research provides an extensive analysis of market dynamics, major investment pockets, key segments, top winning strategies, and the competitive landscape.
Rise in usage of robotics with advancements in AI and smartphone penetration to control lawn mowers fuel the growth of the global robotic lawn mower market. However, high cost of installation required to gain initial setup hinder the market growth. On the other hand, reduced cost of batteries and robotic lawn mowers would present lucrative opportunities in the coming years.
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The medium range robotic lawn mower segment contributed the highest market share in 2017, accounting for nearly half of the share in the market, owing to huge area coverage and convenience of machines. Moreover, this segment is estimated to grow at the highest CAGR of 14.5% throughout the forecast period.
The end users analyzed in the research include commercial users and residential users. The residential user segment accounted for the highest market share in 2017, accounting for nearly three-fourths of the share of the total revenue. However, the commercial user segment is estimated to grow at the highest CAGR of 14.4% during the forecast period.
The retail distribution channel segment accounted for the highest share in 2017, accounting for about three-fourths of the total share of the market, as leading vendors offer their products and accessories with organized retail network for gaining maximum consumers. However, the online distribution channel segment would witness the highest CAGR of 16.4% throughout the forecast period.
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Asia-Pacific is estimated to register the highest CAGR of 17.7% throughout the forecast period, owing to rapid urbanization and increase in construction of residential projects. However, Europe dominated the market based on revenue, accounting for nearly two-fifths of the market. The other regions are analyzed in the report include North America and Latin America, Middle East and Africa (LAMEA).
The key market players discussed in the research include DEERE & COMPANY, Husqvarna Group, Hitachi, Ltd., The Kobi Company, Stiga S.p.A, Honda Motor Co., Ltd., Robert Bosch GmbH, LG Electronics, Zucchetti Centro Sistemi S.p.a., and MTD.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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