DUBLIN--(BUSINESS WIRE)--The "Cleaning Robot Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Cleaning Robots Market is expected to register a CAGR of 16% during the forecast period 2019-2024
Technological innovation and modernization, coupled with the changing lifestyle of people, are the major factors propelling the growth of robotics for various purposes. Increased adoption of smart home devices is augmenting the growth of cleaning robotics for domestic as well as industrial uses.
Also, the rise in labor costs and increasing safety concerns have further boosted the market growth. The various applications of cleaning robots range from floor cleaning, window cleaning, pool cleaning, etc. The use of cleaning robots minimizes human efforts and saves time, costs, and electricity.
However, the costs involved in deploying the cleaning robots are a major factor restraining the market growth for the majority of the population. Cleaning robots are expected to replace the traditional vacuum cleaner as it replaces human efforts with automation and also saves electricity. However, the costs involved as compared to a vacuum cleaner is expected to hinder the adoption of cleaning robots.
Also, the people in emerging economies such as India and China still rely on labor or traditional vacuum cleaner for cleaning purposes.
Key Market Trends
Pool-cleaning Robots in Commercial and Domestic Use Segment is Expected to Grow Significantly
- The pool-cleaning robots are expected to grow significantly during the forecast period owing to the need for automation in pool-cleaning in the domestic and commercial sectors. The changing urban lifestyle of people is a major factor driving the growth of the market. People have more disposable income, and pools in homes are becoming essentials to maintain luxury. However, maintaining a pool and cleaning is a tedious task, and hence, people are looking out for an automated solution to overcome the challenges.
- Pool-cleaning robots have automated features and can remove dirt and debris from the pools and can scrub the surface of the pools. Manual cleaning of pools requires a lot of effort and is time-consuming. However, the introduction of the pool-cleaning robot has simplified the process of cleaning.
- Pool-cleaning robots are an advanced, efficient, and cost-effective version of the traditional pool-cleaning equipment. It collects debris and sediments from swimming pools with minimal human intervention. Hence, the benefits offered by these robots are expected to boost market growth.
- Further, the pool-cleaning robots are expected to increase in adoption from both domestic as well as commercial applications. The growth of the luxurious hotel industry and the increase in the number of swimming pools for training purposes are expected to increase the market adoption of pool-cleaning robots.
Asia-Pacific Expected to Exhibit Maximum Adoption Rate
- The Asia-Pacific region is expected to show the maximum adoption of cleaning robots in the forecast period. 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.
- Also, the major players are expanding their presence in the emerging countries to grab the maximum market share the region offers. For instance, Brain Corp. partnered with a Japanese company, in September 2019, Softbank Robotics to expand its products to the Asia-Pacific region, with the launch of Whiz, the new AI-enabled vacuum-cleaning robot, to commercial customers on a trial and subscription model in Singapore, bringing the smart appliance to the country.
- Also, the companies in the region are launching new and technologically-enhanced cleaning robots in the region to expand their market share and reach. As the region is still in its developing stage in terms of the adoption of cleaning robots, it is expected to present various opportunities to the vendors for expansion.
- For instance, a Singaporean firm LionsBot International (LionsBot), announced in July 2019, that it has developed 13 different models of cleaning robots that are able to scrub, mop, vacuum, sweep, shine and even transport cleaning equipment of up to 450 kilograms and can be used both indoors and outdoors.
The competitive landscape of the cleaning robot market is moderately consolidated due to the presence of few vendors in the market coupled with new players entering the market with new products and solutions and capturing the market share. Although the cleaning robot is still developing, various existing as well as various start-ups, have begun conducting experiments and partnering with various electronic component manufacturers to provide efficient cleaning equipment integrated with all the major technologies.
- August 2019 - Ecovacs Robotics, launched its newest robotic vacuums and mops. These products are the winners of the 2019 Red Dot Award for superior design, the Deebot Ozmo 950 and the Deebot Ozmo 920 are also available for consumer purchase on Amazon.com. The robots upgraded Smart Navi 3.0 Laser Mapping and Navigation technologies deliver enhanced mobility for crossing obstacles and cleaning hard-to-reach areas while their enhanced design provides a completely automated and uninterrupted cleaning experience.
- May 2019 - iRobot introduced a new pair of cleaning robots, the Roomba s9+ and Braava Jet m6, that can work by teaming together to vacuum, mop, and dust the house. The Roomba s9+ and Braava Jet m6 both sport iRobot's mapping technology, coupled with Imprint Link, which lets two devices communicate in order to take turns on the floor.
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption of Smart Home Devices
4.2.2 Increasing Safety Concerns
4.3 Market Restraints
4.3.1 High-Costs Involved
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of Substitute Products
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Bargaining Power of Suppliers
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By End-user Application
5.1.4 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 iRobot Corporation
6.1.2 Samsung Electronics Co., Ltd.
6.1.3 Neato Robotics
6.1.4 Ecovacs Robotics
6.1.5 Intellibot Robotics
6.1.6 Dyson Ltd.
6.1.7 Robosoft Systems
6.1.9 Xiaomi Corporation
6.1.10 LG Electronics Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/6bmpor