Pune, India, Jan. 17, 2022 (GLOBE NEWSWIRE) -- The global robotic vacuum cleaner market size is anticipated to hit USD 50.65 billion by 2028 and exhibit a CAGR of 27.2% during the forecast period. The growing demand for automated products in residential sectors due to the rising inclination towards smart home technologies is likely to fuel the market growth. Fortune Business InsightsTM has presented this information in its report titled “Robotic Vacuum Cleaner Market, 2021-2028”. The market size stood at USD 9.77 billion in 2020 and is estimated to reach USD 11.97 billion in 2021.
The rising adoption of smart and innovative automated systems is also projected to foster market growth. Manufacturers are incorporating voice recognition abilities to interpret voice commands, which is likely to stimulate the market growth further.
COVID-19 Impact-
The Robotic Vacuum Cleaner Market has experienced a limited impact of the coronavirus pandemic. The shutdowns of production plants and manufacturing facilities due to stringent lockdowns and curfews imposed by governments of nations across the globe have hindered the market growth. However, technology-based robotic vacuum cleaners have gained immense popularity during the pandemic due to the need for sterilization and sanitation to avoid the contraction of coronavirus. The market came to a halt during the initial phases of the pandemic. However, the market is currently progressing and is likely to exhibit astonishing growth in the forthcoming years.
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Segmentation-
On the basis of type, the market is trifurcated into pool, window, and floor vacuum cleaners. On the basis of application, the market is bifurcated into commercial and household. On the basis of operation mode, the market is fragmented into the remote control and self-drive. On the basis of distribution channels, the market is segmented into offline and online. On the basis of price, the Robotic Vacuum Cleaner Market is categorized into above USD 500, USD 300 – 500, USD 150 – 300, and below USD 150. Geographically, the market is classified into North America, Middle East & Africa, Asia Pacific, Latin America, and Europe.
Report Coverage-
- The report covers the market’s competitive landscape and profiles key market players accordingly.
- The report highlights the challenges and restraints to Robotic Vacuum Cleaner Market growth and suggests strategies to overcome them.
- The report showcases the impact of the coronavirus outbreak and its effect on market’s growth.
- The Robotic Vacuum Cleaner Market report provides information on the key market trends and latest industry developments.
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Drivers & Restraints-
Rising Adoption of Smart and Innovative Systems to Boost Market Growth
Residential robotic vacuum cleaners are generally used for UV sterilization, mopping, and security cameras for safety from fire or intruders. Major manufacturers are launching products incorporated with voice recognition abilities to interpret voice commands. The rising adoption of smart and innovative automated systems is projected to prevail as a key trend fostering the global market growth.
Additionally, the growing adoption of automated products is anticipated to bolster market growth in the coming years. The rising inclination towards smart home technologies is likely to fuel market growth.
However, high costs of maintenance may hinder the market growth of these high-tech automated products and systems.
Regional Insights-
Decreased Price Unit in China to Fuel Growth in Asia Pacific
Asia Pacific is poised to hold the largest global robotic vacuum cleaner market share in the coming years. The decreased unit price in China is likely to be a key factor driving the region’s market growth. The presence of several robotic type of vacuum cleaner manufacturers in China is anticipated to boost the growth of the region’s market. Additionally, the exceptional growth observed in Japan due to innovative, advanced product launches is expected to complement the region’s market growth.
North America is expected to hold the second-largest market share. The development of technologically advanced automated cleaners in the U.S. is likely to boost the region’s market growth.
Europe is anticipated to exhibit stellar growth due to the high demand for automated vacuum cleaners. The high carpet usage and larger household spaces across Europe augment the demand for automated robotic vacuum cleaners, which is likely to be a key factor driving the region’s market growth.
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Competitive Landscape-
Key Players New Products to Capture Growth
The market is fairly fragmented and comprises several key players operating internationally and domestically. Amongst the top market players, Ecovacs and iRobot Corporation holds a substantial revenue share in the market. The key players emphasize extensive research and development activities to manufacture technologically advanced products. For instance, Ecovacs launched a new floor and wall robotic vacuum cleaner, DEEBOT Ozmo 920, in December 2019.
Industry Developments-
March 2020: Ecovacs launched a new TrueMapping technology equipped modern AI-driven floor cleaning robotic vacuum cleaner.
List of Key Players in the Global Robotic Vacuum Cleaner Market:
- Dyson Ltd. (Malmesbury, U.K.)
- Ecovacs (Suzhou, China)
- iRobot Corporation (Massachusetts, U.S)
- LG Electronics (Seoul, South Korea)
- Samsung Corporation (Seoul, South Korea)
- Proscenic (Zhengzhou, China)
- Matsutek Enterprises Co. Ltd. (Taipei, Taiwan)
- Neato Robotics (Newark, California)
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Robert Bosch GmbH (Gerlingen, Germany)
- Panasonic Corporation (Osaka, Japan)
- Bissell Inc. (Grand Rapids, Michigan)
- Miele & Cie. KG (Gütersloh, Germany)
- Sharp Corporation (Osaka, Japan)
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Table Of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Robotic Vacuum Cleaner Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Primary Interview Responses
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