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Robotic Vacuum Cleaners Market: Industry Analysis and Forecast
Robotic Vacuum Cleaners Market: Industry Analysis and Forecast
Robotic Vacuum Cleaners Market by Type (Cleaning Robots, Mopping Robots, Hybrid Robots), Distribution Channel (Online, Offline), Operation (Self-drive) Price Range (Below USD 200, 201- 500) Application (Residential, Commercial)– Global Forecast to 2027”, the robotic vacuum cleaners market is expected to grow at a CAGR of 22% from 2020 to 2027 to reach $12.1 billion by 2027 from $3 billion in 2020. In terms of volume, the robotic vacuum cleaners market is estimated to grow at a CAGR of 18.7% from 2020 to 2027 to reach 49.5 million units by 2027.
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Factors such as the growing penetration of smart & connected products in residential properties, the need for clean and hygienic homes, shifting consumer preference towards purchasing intelligent home appliances, and the availability of technically advanced products are driving the robotic vacuum cleaners market. The performance benefits of robot vacuums, including cleaning without human intervention, self-cleaning, and self-charging features, promote the demand across technically aware consumer class.
Implementing AI and sensors in new robotic vacuum cleaners allows them to identify the appropriate cleaning areas and reduce the chances of breakdown and collision with other objects. For instance, in August 2020, iRobot announced its AI-powered software upgrade known as iRobot Genius Home Intelligence for the robotic vacuum cleaners that will help the products know when and where to clean. These factors and the growing penetration of smart household appliances in developed economies are expected to support the market growth.
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Key findings in the robotic vacuum cleaners market study:
Based on type, the hybrid robots segment is expected to grow at the highest CAGR from 2020 to 2027. The growth is attributed to the introduction of robotic vacuums with both vacuuming and mopping features allowing consumers to benefit from both processes in a single product. Increasing demand for smarter, affordable vacuum and mopping operations is boosting the demand for robotic 2-in-1 vacuum cleaners. For instance, in March 2021, ECOVACS launched its new line of vacuums, DEEBOT N-Series, with OZMO mopping feature. The products include N8+ and N8 Pro+ with an all-in-one mopping & vacuuming system.
Based on distribution channel, the online segment accounted for the largest share of the overall robotic vacuum cleaners market in 2020. The convenience of online purchases such as wide product variety, easy payments and delivery, and discounts are propelling the growth of the online segment.
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Based on application, the residential segment is poised to grow at the highest CAGR during the forecast period due to changing consumer lifestyles, increased penetration of smart homes, and new robots with advanced technologies. Robotic vacuums are equipped with intelligent sensors and advanced features which make floor cleaning easy and efficient.
Leading players in the robotic vacuum cleaners market are adopting new product development & innovation and regional expansion strategies to grow and gain a higher market share. Companies are developing new products along with smartphone applications for connected vacuum cleaners that offer convenient usage.
Key Players
The report includes the competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past three years. The key players operating in the global robotic vacuum cleaner market are iRobot Corporation (U.S.), ECOVACS Robotics Co. Ltd. (China), Beijing Roborock Technology Co. Ltd. (China), Anker Innovation Technology Co., Ltd. (China), Samsung Electronics Co., Ltd (South Korea), Shenzhen Proscenic Technology Co. Ltd. (China), Neato Robotics, Inc. (U.S.), Cecotec Innovaciones S.L. (Spain), LG Electronics Inc (South Korea), Dyson Limited (U.K.), Panasonic Corporation (Japan), and Sharp Corporation (U.S.).
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