The "Robot Vacuum Cleaners Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The robot vacuum cleaners market is expected to register a CAGR of 13% during the forecast period, 2021 - 2026.
The International Federation of Robotics (IFR) estimates that 31 million household robots to be sold between 2016 and 2019, and out of which 96% of which will be a vacuum and floor cleaning robots. This is encouraging companies to invest in the market.
Neato Robotics ( Vorwerk)
Haier Group Corporation
LG Electronics Inc
Robert Bosch GmbH
Stanley Black & Decker, Inc.
Koninklijke Philips N.V.
Key Market Trends
North America to Occupies Largest Market Share
North America, which is among the leading innovators and pioneers in terms of adoption of robotics, is one of the largest markets. The primary reason for the growth of the market is the increasing adoption of these domestic robots across the region.
Among all the household robots, automated vacuum cleaners and moppers are the most commercialized and developed products. The companies are continuously investing in developing more compact and integrated vacuum cleaner and mopping robots to reach small places at home.
Further, the companies are integrating advanced technologies, like voice recognition and laser-based technologies, to map the floor structure. For instance, iRobot launched a Roomba i7+, which can acquire voice commands and is equipped with intelligent mapping techniques.
Therefore, all the above factors are expected to drive the market in the North America Region.
Asia- Pacific to Witness Fastest Growth
The Asia-Pacific is expected to record the highest growth rate over the forecast period, owing to the significant adoption of robot vacuum cleaners throughout the region. The major factor boosting the market growth in the region is the gradual rise in the disposable income of the consumers in the region and the rapid change in the lifestyles of the people.
Further, the companies are expanding their footprint in the region to gain competitive advantages. For instance, in February 2019, iRobot Corporation upgraded its line of robotic vacuum cleaners by launching two new devices i.e.the iRobot Roomba i7 and the iRobot Roomba i7+ in India.
As the region is still in its developing stage in terms of the adoption of robot vacuum cleaners, it is expected to present various opportunities to the vendors for expansion.
Also, the companies in these regions are partnering to promote the development of robot vacuum cleaners. For example, in November 2019, Japan Softbank Group in partnership with Chinese startups named Roborock Technology Co., Ltd. launched an upgraded version of smart robot vacuum Roborock S6 in Japan.
Further, the ongoing trends of an increase in the number of nuclear families is further creating a positive outlook on the market. These robots are designed to cater to the needs of the modern nuclear family, which eliminates the dependency on maids and reduces human efforts of maintaining the house.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Number of Smart Homes
4.3.2 Growing Research and Development Investments
4.4 Market Restraints
4.4.1 High Equipment Cost and High Maintenance Cost
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By End User
5.2.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.2.4 Latin America
5.2.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/j0abez
View source version on businesswire.com: https://www.businesswire.com/news/home/20210225005406/en/
Laura Wood, Senior Press Manager
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