Robotic Vacuum Cleaners Market is Expected to Grow at the CAGR of 11.2% During 2018-2026: Credence Research

SAN JOSE, Calif. , Aug. 06, 2018 (GLOBE NEWSWIRE) -- According to a new market research report published by Credence Research, “Robotic Vacuum Cleaners Market (By End-use (Residential, Commercial, and Industrial), By Product Type (Robotic Floor Vacuum Cleaners and Robotic Pool Vacuum Cleaners), By Sales Channel (Direct Retail and Internet Retail), and By Geography (North America, Europe, Asia Pacific, and Rest of the World)) - Growth, Future Prospects, and Competitive Landscape, 2018 -2026,” the global robotic vacuum cleaners market is expected to expand at a CAGR of 11.2% during the forecast from 2018 to 2026.

Market Insights

Robotic vacuum cleaners are automated cleaning equipment that allow users to clean facility autonomously without human control. Few years back, robots were looked upon as a futuristic luxury, but today, they make up around 20% of the worldwide vacuum cleaners market. Robotic vacuum cleaners enable comparatively quick and easy cleaning of large spaces than manual cleaning. In addition, since robotic vacuum cleaners do not require manual intervention for operations, they significantly reduce costs (human resources) and time required for cleaning process, thereby improving the overall efficiency of home owners and business organizations. Robotic vacuum cleaners are gaining prominence not only among home owners but also commercial and industrial facilities. With the introduction of cleanliness standards, industrial facilities and business organizations are spending substantially on cleaning equipment and accessories. Changing socioeconomic factors like increased female employment leading to increased number of dual-income households is one of the major trends driving sales of robotic vacuum cleaners across the globe. In addition, greater emphasis on quality of indoor air and growing awareness regarding the advantages offered by these equipment over manual cleaning bodes well for the growth of the robotic vacuum cleaners market.

Competitive Insights:

The global robotic vacuum cleaners market is fragmented and highly competitive. The market is characterized by the presence of both international and domestic players. Some of the leading manufacturers profiled in the study include iRobot Corporation, Dyson Ltd., ILIFE Robotics Technology, Neato Robotics, Samsung Electronics Co. Ltd., Ecovacs Robotics, Yujin Robots Co., Ltd., Maytronics Ltd., LG Electronics Inc., Metapo, Inc, Koninklijke Philips N.V., Panasonic Corporation, Miele & Cie. KG, Hayward Industries Inc., and Sharp Corporation among others. Proliferation of the Internet retailing has helped reducing purchase cost of robotic vacuum cleaners, further intensifying competition among manufacturers. As of 2017, sales of robotic vacuum cleaners were greater through direct retail than the Internet. However, it is anticipated that their sale would probably improve through online with the proliferating Internet penetration and growing e-commerce industry. With the growing popularity of robot vacuum cleaners, manufacturers are striving to develop advanced products with improved connectivity through the integration of the cloud, AI, and IoT. For instance, manufacturers have recently developed a state-of-the-art robotic vacuum cleaner integrated with cameras and intercom systems, thereby serving dual purpose of cleaning and security. Thus, with advancements in technology and consequent introduction of advanced variants, demand for robotic vacuum cleaners will surge further during the forecast period.

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