DUBAI, UAE, Dec. 9, 2021 /PRNewswire/ -- As per a recent survey by FMI, the global robotic vacuum cleaners market is estimated to top US$ 3.5 Bn in 2021. Rapidly improving standard of living and growing working population across the U.S., China, Germany, and Japan is favoring the growth in the market.
Over the past assessment period, demand for robotic vacuum cleaners grew at 5.6% CAGR between 2016 and 2020. With increasing penetration of smart appliances, integrated with artificial intelligence (AI) and internet of things (IoT), sales are expected to burgeon. On account of this, therobotic vacuum cleaners market is projected to total US$ 13.7 Bn by 2031.
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In addition to this, with hectic lifestyle and time consuming household chores, demand for robotic vacuum cleaners among millennials is expected to propel. Against this backdrop, as per the study, the market is poised to expand at an impressive 14.5% CAGR during the forecast period 2021-2031.
As inclination towards automated home appliances is surging, numerous market players are launching novel products. For instance, iRobot Corp, a leading consumer robotics manufacturer, announced launching new Roomba iSeries robot vacuums - i3+ and i3 across India in 2021. A multiplicity of such product launches is estimated to rise the robotic vacuum cleaners sales by 3.9X through 2031.
Additionally, increasing use of robotic vacuum cleaners across commercial sector to clean pools, floors, lawns, and gutters has assisted the market to expand by 12.9% year-over-year growth in 2021.
Based on robot type, the in-house robot segment is anticipated to exhibit the fastest growth in the market, accounting for nearly 75.9% of the overall sales in 2021. Growing trend of smart homes and surging demand for automated devices to decrease human intervention for household tasks are driving the growth in the segment.
"Key manufacturers are emphasizing on developing more advanced products with innovative features such as laser vision, smartphone connectivity, self-charging, and ultraviolet (UV) sterilization by integrating cutting-edge technologies such as AI and IoT. This is expected to accelerate the growth in the market,"says a FMI analyst.
Key Takeaways fromRobotic Vacuum CleanersMarket Study
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Key Drivers
Key Restraints
Competitive Landscape
As per FMI, the leading players in the global market are Koninklijke Philips N. V, LG Electronics, Robert Bosch GmbH, Samsung Corporation and Dyson Ltd. These companies are estimated to collectively account for around 42% of the sales in 2021.
Top tier manufacturers focusing on intensive research and development (R&D) initiatives to introduce innovative products and services in the market to expand their product portfolio. Some of the players are aiming at strategic collaborations, partnership, mergers, and acquisitions to strengthen their global footprint. For instance,
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Some of the key players operating in the market profiled by FMI are:
More Valuable Insights onRobotic Vacuum CleanersMarket
The latest report by FMI provides a detailed analysis of the global robotic vacuum cleaners market, providing credible insights into key factor driving the market through 2021 and beyond. The study also disclosed growth projections on in robotic vacuum cleaners market with detailed segmentation:
By Robot Type:
By Mode of Charging:
By Sales Channel:
By Region:
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Key Questions Covered in the Report
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