"Concept of Home Automation to Drive Demand for Robotic Vacuum Cleaners Worldwide"

The global robotic vacuum cleaners market was valued at US$ 4.34 Bn in 2019 and expected to expand at a CAGR of 9.1% during the forecast period from 2020 to 2028. Floor cleaning is one of the major maintenance tasks across verticals, be it residential, commercial, or industrial. Rising demand for automated cleaning equipment can be majorly credited to the growing concept of smart homes and awareness regarding the importance of hygiene and cleanliness at homes and workplaces. Changing socioeconomic factors like increased female employment and their inclination towards technical jobs has led to the scarce availability of workforce for household chores. This, coupled with the busy lifestyle of people in urban areas is driving demand for automated cleaning equipment, especially in the residential segment.

"Demand for Robotic Vacuum Cleaners to Swell at Commercial Establishments"

In 2019, the residential segment was the largest value contributor to the global robotic vacuum cleaners market. Improving the standard of living coupled with the ever-rising population and consequent increase in the number of residential units, especially in the emerging economies like Asia Pacific, Latin America, and the Middle East is expected to drive demand for robotic vacuum cleaners in the residential segment. In addition, a growing preference for wooden floorings at home is expected to drive the growth of robotic vacuum cleaners that can vacuum and mop together. On the other hand, the industrial segment is expected to witness regulated growth over the forecast period 2020 - 2028. The commercial segment covers robotic vacuum cleaners used in restaurants, hotels, commercial complexes, business buildings, and schools among others. The economic development resulting in the growth of commercial real estate is expected to drive demand for new robotic vacuum cleaners in the commercial segment. 

"Asia Pacific Expected to Witness Strong Growth"

In 2019, Europe was the largest robotic vacuum cleaners market in terms of both unit shipments and revenue. Overall, higher acceptance of technological innovations boosts demand for innovative equipment in the region. Other factors assisting market growth in the region include public awareness regarding cleanliness and an increasing number of research activities dedicated to developing novel and advanced automated cleaning systems. On the other hand, emerging economies in the Asia Pacific, especially India and China are expected to exhibit strong growth, especially towards the latter half of the forecast period. The evolving habits of consumers coupled with the proportionate potential for smart appliances are expected to spur market growth in the Asia Pacific. In addition, proliferating Internet retailing and intense competition among manufacturers in the region have lowered the unit prices of robotic vacuum cleaners, thereby improving their adoption among price-sensitive customers in the region. 

"Robotic Floor Vacuum Cleaners to Continue their Dominance"

Based on product type, the research study categorizes the global robotic vacuum cleaners market into two major categories, namely: robotic floor vacuum cleaners and robotic pool vacuum cleaners. In 2019, robotic floor vacuum cleaners were the largest product segment in the global robotic vacuum cleaners market. The segment accounted for over three-fourth of the global market value in the same year. Floor space expansion due to the rising number of residential units and businesses will drive demand for robotic floor vacuum cleaners throughout the forecast period. On the other hand, demand for robotic pool vacuum cleaners is expected to grow on the back of economic development resulting in an increased number of commercial establishments (hotels, sports complex, etc.) with swimming pools. 

Some of the leading manufacturers profiled in the study include iRobot Corporation, Dyson Ltd., ILIFE Robotics Technology, Neato Robotics, Samsung Electronics Co. Ltd., Ecovacs Robotics, Yujin Robots Co., Ltd., Maytronics Ltd., LG Electronics Inc., Metapo, Inc, Koninklijke Philips N.V., Panasonic Corporation, Miele & Cie. KG, Hayward Industries Inc., and Sharp Corporation among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Robotic Vacuum Cleaners market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Robotic Vacuum Cleaners market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Robotic Vacuum Cleaners market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Robotic Vacuum Cleaners market?
• Which is the largest regional market for Robotic Vacuum Cleaners market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Robotic Vacuum Cleaners market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Robotic Vacuum Cleaners market worldwide?