PUBLISHER: The Business Research Company | PRODUCT CODE: 1435529
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435529
Robotic vacuum cleaners, commonly known as robovacs, are household appliances designed for autonomous cleaning without human intervention. These devices operate fully automated and leverage artificial intelligence, incorporating various sensors and scheduling programs. Robovacs efficiently clean floors, windows, pools, and gardens without requiring manual effort.
The primary types of robotic vacuum cleaners include those designed for floors and pools, serving both residential and commercial spaces. Robotic floor vacuum cleaners utilize advanced technology to clean hard floors autonomously. Charging methods for these devices vary and may involve automatic charging or manual charging.
The robotic vacuum cleaners market research report is one of a series of new reports from The Business Research Company that provides robotic vacuum cleaners market statistics, including robotic vacuum cleaners industry global market size, regional shares, competitors with a robotic vacuum cleaners market share, detailed robotic vacuum cleaners market segments, market trends and opportunities, and any further data you may need to thrive in the robotic vacuum cleaner's industry. This robotic vacuum cleaners market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The robotic vacuum cleaners market size has grown rapidly in recent years. It will grow from $7.97 billion in 2023 to $9.53 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The growth in the historical period can be ascribed to shifts in lifestyles and time constraints, increased awareness and acceptance, urbanization and the trend toward smaller living spaces, an aging population with physical limitations, and advancements in household technology.
The robotic vacuum cleaners market size is expected to see rapid growth in the next few years. It will grow to $17.02 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The forecasted growth in the upcoming period can be linked to the integration of smart home systems, improved cleaning performance, increased affordability and market accessibility, emphasis on customization and personalization, and a focus on eco-friendly and energy-efficient attributes. Key trends anticipated in the forecast period encompass advancements such as multi-room mapping and navigation, the incorporation of advanced sensing technologies, extended battery life with fast charging capabilities, customization and personalization features, and a sustained emphasis on sustainability and eco-friendly design.
The robotic vacuum cleaners market is experiencing growth due to increased investments in developing new technologies. Hardware and software advancements, including enhanced sensors and decision-making capabilities, empower these cleaners to perform household tasks efficiently. For instance, in January 2023, LionsBot International Pte Ltd., a Singapore-based smart robotics company, secured a $7 million investment from TransLink Capital for developing cleaning robots tailored for commercial applications. This growing support and investment, both from the private sector and government initiatives, play a significant role in propelling the market.
The rise of smart homes is anticipated to further boost the robotic vacuum cleaners market. Smart homes, equipped with remotely monitored and automated devices, often incorporate robotic vacuum cleaners to maintain a cleaner environment efficiently. In the US, around 63.43 million homes use smart home devices, and the increasing adoption of smart homes is driving the demand for robotic vacuum cleaners.
The high cost of robotic vacuum cleaners may limit market growth, as potential consumers weigh the significant investment required. For instance, iRobot's Roomba i7 and Roomba S9+ are priced at $1,099 and $1,299, respectively, in the USA. This pricing strategy may affect consumer decisions and impact market expansion.
Major companies are launching innovative products. In 2021, iRobot Corporation introduced the Roomba j7+ Robot Vacuum, providing customers with advanced control over their cleaning routines. Additionally, major players such as Ecovacs Robotics are focusing on technological innovations, such as the DEEBOT X2 OMNI, which integrates artificial intelligence and machine learning capabilities for efficient cleaning. The DEEBOT X2 OMNI features a low-profile design, dual-laser Lidar navigation technology, and an Auto-Empty function, showcasing the industry's commitment to continuous improvement and customer satisfaction.
Major companies operating in the robotic vacuum cleaners market report are Samsung Electronics Co. Ltd., Metapo Inc., Robert Bosch GmbH, LG Electronics Inc., Panasonic Corporation, Haier Electronics Group Co. Ltd., Sharp Corporation, Koninklijke Philips N.V., AB Electrolux, Groupe SEB Deutschland GmbH, Dyson Ltd., Miele & Cie. KG, Pentair PLC, Vorwerk & Co. KG, SharkNinja Operating LLC, Karcher Cleaning Systems Pvt. Ltd., Maytronics Ltd., ECOVACS Robotics Co. Ltd., Hayward Industries Inc., iRobot Corporation, Bissell Inc., Taurus Group BV, Yujin Robots Co. Ltd., Neato Robotics Inc., ILIFE Robotics Technology Co. Ltd., bObsweep Inc., Kevac SRL, Cecotec Innovaciones S.L., Mamibot Manufacturing USA Inc., Matsutek Enterprises Co. Ltd.
Asia-Pacific was the largest region in the robotic vacuum cleaners market in 2023. Western Europe was the second-largest region in the global robotic vacuum cleaners market share. The regions covered in the robotic vacuum cleaners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the robotic vacuum cleaners market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The robotic vacuum cleaners market consists of sales of robotic floor vacuum cleaners, robotic pool vacuum cleaners, and other robotic vacuum cleaners. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Robotic Vacuum Cleaners Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on robotic vacuum cleaners market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for robotic vacuum cleaners ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The robotic vacuum cleaners market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.