A detailed study published by Future Market Insights (FMI) uncovers micro & macro-economic factors facilitating the growth in the robotic vacuum cleaners market. The report emphasizes on highlighting opportunities pushing sales across various segments in terms of robot type, mode of charging, and sales channel.
Future Market Insights (FMI), Dubai: As per a recent survey by FMI, the global robotic vacuum cleaners market is estimated to top US$ 3.5 Bn in 2021. Rapidly improving standard of living and growing working population across the U.S., China, Germany, and Japan is favoring the growth in the market.
Over the past assessment period, demand for robotic vacuum cleaners grew at 5.6% CAGR between 2016 and 2020. With increasing penetration of smart appliances, integrated with artificial intelligence (AI) and internet of things (IoT), sales are expected to burgeon. On account of this, the robotic vacuum cleaners market is projected to total US$ 13.7 Bn by 2031.
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In addition to this, with hectic lifestyle and time consuming household chores, demand for robotic vacuum cleaners among millennials is expected to propel. Against this backdrop, as per the study, the market is poised to expand at an impressive 14.5% CAGR during the forecast period 2021-2031.
As inclination towards automated home appliances is surging, numerous market players are launching novel products. For instance, iRobot Corp, a leading consumer robotics manufacturer, announced launching new Roomba iSeries robot vacuums – i3+ and i3 across India in 2021. A multiplicity of such product launches is estimated to rise the robotic vacuum cleaners sales by 3.9X through 2031.
Additionally, increasing use of robotic vacuum cleaners across commercial sector to clean pools, floors, lawns, and gutters has assisted the market to expand by 12.9% year-over-year growth in 2021.
Based on robot type, the in-house robot segment is anticipated to exhibit the fastest growth in the market, accounting for nearly 75.9% of the overall sales in 2021. Growing trend of smart homes and surging demand for automated devices to decrease human intervention for household tasks are driving the growth in the segment.
“Key manufacturers are emphasizing on developing more advanced products with innovative features such as laser vision, smartphone connectivity, self-charging, and ultraviolet (UV) sterilization by integrating cutting-edge technologies such as AI and IoT. This is expected to accelerate the growth in the market,” says a FMI analyst.
Key Takeaways from Robotic Vacuum Cleaners Market Study
- The U.S. is projected to hold the lion’s share in the North America market, accounting for around 91.5% of the sales in the region by 2021.
- The U.K. is forecast to remain a dominant market in Europe, expanding at a robust CAGR of 7.5% during the assessment period.
- India is estimated to register a swift growth in the South Asia market, accounting for over 36.9% of the share in 2021.
- South Korea and Japan are expected to account for 14.8% and 53.4% of revenue share in the East Asia robotic vacuum cleaners market through 2021.
- On the basis of mode of charging, auto battery charging is anticipated to emerge as the most remunerative segment, accounting for 70.9% of the total sales in 2021.
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- Increasing application of outdoor robots for cleaning lawns, swimming pools, and cutting grass among others across the residential and commercial sectors is propelling the demand across the outdoor robots segment.
- Growing inclination towards shopping via e-commerce platforms and rising availability of several local and international brand products such as Amazon, eBay, and Alibaba is fueling the sales in the online retailer segment.
- High initial cost and cost of maintenance of robotic vacuum cleaners is hindering the sales in the market.
- High power consumption and shorter operational period of robotic vacuum cleaners are hampering the growth in the market.
As per FMI, the leading players in the global market are Koninklijke Philips N. V, LG Electronics, Robert Bosch GmbH, Samsung Corporation and Dyson Ltd. These companies are estimated to collectively account for around 42% of the sales in 2021.
Top tier manufacturers focusing on intensive research and development (R&D) initiatives to introduce innovative products and services in the market to expand their product portfolio. Some of the players are aiming at strategic collaborations, partnership, mergers, and acquisitions to strengthen their global footprint. For instance,
- In July 2021, Evocas Robotics, a Chinese technology company, announced launching four f Advance Robotic Vacuum Cleaners – DEEBOT U2 PRO, DEEBOT 500, DEEBOT OZMO T8, and DEEBOT OZMO 950 in India. These Vacuum Cleaners are incorporated with smart anti-collision technology called, Millimeter-level obstacle detection and avoidance. This will assist the company to expand their product portfolio and increase their market share.
- In November 2019, iRobot Corp., an American technology company along with an American worldwide manufacturing services company, Jabil, Inc., announced has expanding their manufacturing operations in Malaysia. This will assist the companies to increasing the production and strengthen their footprint across Asia Pacific.
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Some of the key players operating in the market profiled by FMI are:
- Koninklijke Philips N. V
- LG Electronics
- Robert Bosch GmbH
- Samsung Corporation
- Dyson Ltd.
- iRobot Corporation
- Panasonic Corporation
- Neato Robotics, Inc.
- Yujin Robot, Co., Ltd.
- Hayward Industries, Inc.
- Pentair plc
- Milagrow Business & Knowledge Solutions (Pvt.) Limited.
More Valuable Insights on Robotic Vacuum Cleaners Market
The latest report by FMI provides a detailed analysis of the global robotic vacuum cleaners market, providing credible insights into key factor driving the market through 2021 and beyond. The study also disclosed growth projections on in robotic vacuum cleaners market with detailed segmentation:
By Robot Type:
- Outdoor Robot
- In-House Robot
By Mode of Charging:
- Manual Charging
- Auto-Battery Charging
By Sales Channel:
- Direct Sales
- Specialty Stores
- Department Stores
- Online Retailers
- Other Sales Channel (Convenient Stores/Independent Stores)
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
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Key Questions Covered in the Report
- The report offers insight into robotic vacuum cleaners market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for robotic vacuum cleaners market between 2021 and 2031
- Robotic vacuum cleaners market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Robotic vacuum cleaners market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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