Pune, India, Oct. 26, 2023 (GLOBE NEWSWIRE) — The global robotic vacuum cleaner market size was USD 9.77 billion in 2020 and is projected to grow from USD 11.97 billion in 2021 to USD 50.65 billion in 2028 at a CAGR of 27.2% in the 2021-2028 period. This information is published by Fortune Business Insights in its report, titled “Robotic Vacuum Cleaner Market, 2021-2028”. Prominent companies are introducing smart technologies in their vacuums to attract a wider consumer base. For instance, in 2021, Ultenic launched its T10 robot vacuum cleaner. The cleaner is equipped with mopping capabilities along with an auto dust disposable system.
KEY INDUSTRY DEVELOPMENTS:
January 2019: ECOVACS launched an AI powered floor cleaning robot, the DEEBOT OZMO 960 and window cleaning robot WINBOT X in Consumer Electronics Show 2019 held in Las Vegas.
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Report Scope & Segmentation
Report Coverage Details Forecast Period 2021 to 2028 Forecast Period 2021 to 2028 CAGR 27.2% 2028 Value Projection USD 50.65 billion Base Year 2020 Robotic Vacuum Cleaner Market Share in 2020 USD 9.77 billion Historical Data for 2017 to 2019 No. of Pages 160 Segments covered By Coating Type, End-User and Region Robotic Vacuum Cleaner Market Growth Drivers Adoption of Automated Products across the Residential Sectors to Uplift Products Demand Adoption of Innovative and Smart Automated Systems to Boost Growth
What Does the Report Contain?
The insights in the market for robotic vacuum cleaner market report are based on primary and secondary research to come to authentic conclusions. The analysis is based on industry-wide data and market projections are estimated by our in-house experts. The data is classified on various bases and each segment meticulously studied to give strategies based on market dynamics. The indispensable guidance provided by our experts is beneficial for the new entrants to the market. The guidance includes business priorities, pricing, prominent business models, challenges, potential business expansion opportunities, and much more. This report is not only beneficial for the new entrants or business holders of the market but also for the investors in this product.
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List of Key Players Profiled in the Market for Robotic Vacuum Cleaner:
Dyson Ltd. (Malmesbuiy, United Kingdom) 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 (GUtersloh, Germany)Sharp Corporation (Osaka, Japan)
Driving Factor
Adoption of Smart Home Technologies to Aid Growth
The growth of smart home technologies in recent years has penetrated the market of vacuum cleaners. Households are preferring automated systems to save time and energy. For instance, in May 2021, Midea M7 Pro is scheduled to be launched with a high frequency vibration mopping capability. Such introduction of features in the cleaners is expected to propel robotic vacuum cleaner market growth. The introduction of air filters is receiving high popularity among consumers with allergies. The use of these cleaners furthermore reduces the exposure to allergens such as pollen, dust, and pet hair.
Market Segmentation
On the basis of type, the market for robotic vacuum cleaner is segmented into floor vacuum cleaner, window vacuum cleaner, and pool vacuum cleaner. Based on type, the pool vacuum cleaner segment held a market share of about 21.3% in 2019.
Based on application, the market is bifurcated into household and commercial. Additionally, the operation mode is classified into self-drive and remote control. On the basis of distribution channel, the market is segmented into online and offline. By price, the market is divided into below USD 150, USD 150-300, USD 300-500, and above USD 500. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Regional Insights
Presence of Large Scale Production Facilities in Asia Pacific to Augment Growth
Asia Pacific is expected to lead the robotic vacuum cleaner market share owing to the presence of prominent manufacturers in the region. The large scale production facilities enable the producers to sell them cheaply and garner high demand in the market. For example, in 2018, MC-RS810 and MC-RS310 by Panasonic has been introduced with obstacle detecting sensors.
North America is projected to showcase substantial growth on account of the increasing integration of advanced technology in the vacuum cleaners. For example, the US market is consuming Roomba by iRobot Corporation voraciously for household cleaning purposes.
Competitive Landscape
Key Players to Focus on Invest R&D to Amplify Business Prospects
The prominent players of the market for robotic vacuum cleaner have a strong portfolio and a history of continuous investment in research and development. They devise strategic product launches, along with advanced solutions, to propel their product sales. With the wide range of potential opportunities in this market, even the new entrants of the market can easily stabilize their position. This has resulted in the entrance of several domestic players into the market.
Major Table of Contents:
Introduction Definition, By SegmentResearch ApproachSourcesExecutive SummaryMarket Dynamics Macro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19 Short-term ImpactLong-term ImpactCompetition Landscape Business Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Robotic Vacuum Cleaner Market Share Analysis and Matrix, 2020Key Market Insights and Strategic RecommendationsProfiles of Key Players (Would be provided for 10 players only) Overview Key ManagementHeadquarters etc.Offerings/Business SegmentsKey Details (Key details are subjected to data availability in public domain and/or on paid databases) Employee SizeKey Financials Past and Current RevenueGross MarginGeographical ShareBusiness Segment ShareRecent DevelopmentsPrimary Interview ResponsesAnnexure / AppendixGlobal Robotic Vacuum Cleaner Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2021-2028 By Type (USD Bn) Floor Vacuum CleanerWindow Vacuum CleanerPool Vacuum Cleaner By Application (USD Bn) HouseholdCommercialBy Operation Mode (USD Bn) Self-DriveRemote ControlBy Distribution Channel (USD Bn) OnlineOfflineBy Price (USD Bn) Below USD 150USD 150 – 300USD 300 – 500Above USD 500By Region (USD Bn) North AmericaEuropeAsia PacificMiddle East & AfricaLatin AmericaNorth America Robotic Vacuum Cleaner Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2021-2028
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