LONDON--(BUSINESS WIRE)--The global robotic vacuum cleaners market size is poised to grow by USD 3.7 billion during 2020-2024, progressing at a CAGR of almost 18% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Following the growing popularity of smart homes and smart appliances, there is an increased inclination of people towards automation. With the increase in the tech-savvy population, the preference for easy-to-use and convenient products has increased. Moreover, the evolving lifestyles and busy schedules leave consumers hard-pressed for times to perform cleaning and mopping activities. This will influence the robotic vacuum cleaner market growth over the forecast period.
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- The major robotic vacuum cleaners market growth came from the residential end-users segment. Benefits such as the easy operability and low cost of manual vacuum cleaners have gained substantial end-users in price-sensitive countries in APAC. Additionally, the growth in smart cities across regions is encouraging residential end-users to automate household appliances, including cleaning. This will increase the usage of robotic vacuum cleaners in the residential sector.
- APAC was the largest market for robotic vacuum cleaners in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The rapid urbanization in the region that is driving the growth of the residential and commercial sectors will increase the demand for robotic vacuum cleaners.
- The global robotic vacuum cleaners market is fragmented. AB Electrolux, Dyson Ltd., ECOVACS Robotics Co. Ltd., ILIFE INNOVATION Ltd., iRobot Corp., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., and Sharp Corp. are some of the major market participants. To help clients improve their market position, this robotic vacuum cleaners market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the robotic vacuum cleaners market 2020-2024 is expected to have Neutral and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/robotic-vacuum-cleaner-market-industry-analysis
The emergence of Internet of Clean (IoC) will be a Key Market Trend
Internet of Clean (IoC) generates insights from equipment, operations, and consumption associated with cleaning activities with the help of connected sensors. The concept is gaining traction among end-users such as real estates, government and healthcare facilities, offices, retails, hotels, education hubs, and airports. This will increase the preference for robotic vacuum cleaners integrated with IoC as they can perform task prioritization and resource management. As a result of these factors, the market will grow during 2020-2024.
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Robotic Vacuum cleaners Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist robotic vacuum cleaners market growth during the next five years
- Estimation of the robotic vacuum cleaners market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the robotic vacuum cleaners market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of robotic vacuum cleaners market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY END-USER
- Market segmentation by end-user
- Comparison by end-user
- Residential sector - Market size and forecast 2019-2024
- Commercial sector - Market size and forecast 2019-2024
- Market opportunity by end-user
PART 07: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
PART 08: MARKET SEGMENTATION BY TYPE OF CHARGING
- Market segmentation by type of charging
PART 09: CUSTOMER LANDSCAPE
PART 10: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 13: MARKET TRENDS
- Emergence of low-cost robotic vacuum cleaners
- Internet of Clean (IoC)
- Increasing adoption of robotic vacuum cleaners at airports
- Additional features in robotic vacuum cleaners
- High demand for energy-efficient devices in Europe
PART 14: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 15: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- AB Electrolux
- Dyson Ltd.
- ECOVACS Robotics Co. Ltd.
- ILIFE INNOVATION Ltd.
- iRobot Corp.
- Koninklijke Philips NV
- LG Electronics Inc.
- Panasonic Corp.
- Samsung Electronics Co. Ltd.
- Sharp Corp.
PART 16: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 17: EXPLORE TECHNAVIO
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