LONDON--(BUSINESS WIRE)--The global laundry folding robots market is expected to grow at a CAGR of almost 33% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.
The market is driven by the growing acceptance of personal service robots. The acceptance of automated products as companions in daily tasks has increased significantly over the years. In addition, the inclusion of advanced technologies has increased the capabilities of automated devices. For instance, the inclusion of IoT, image processing technologies, and AI in laundry folding robots has enhanced connectivity with smart home control systems and eased the workflow and control. Therefore, the proliferation of smart homes and smart cities is expected to increase the adoption of laundry folding devices over the forecast period.
Laundry Folding Robots Market: Related Markets
Global Robotics Market in Personal and Homecare Sector 2020-2024
Global Mobile Robot Platforms Market 2020-2024
Global Industrial Robot Sensors Market 2020-2024
Laundry Folding Robots Market: Analysis of Parent Market
The global industrial machinery market is the parent market of the laundry folding robots market. Within its scope, the industrial machinery market covers companies engaged in the manufacturing of industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. Our report on the laundry folding robots market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including FoldiMate Inc. and Herbert Kannegiesser GmbH.
Technavio’s research report on the laundry folding robots market identifies the key drivers, trends, challenges, and the market scenario over the forecast period. The report also analyzes the impact of these factors on the overall industrial machinery market.
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Laundry Folding Robots Market: Segmentation Analysis
The global laundry folding robots market has been analyzed across various segments to identify market dynamics, developments, and key growth areas during the forecast period. The report also offers insights on high growth regions and opportunities for vendors operating in each sub-segment of the Laundry folding robots market. The market is segmented as follows:
- North America
- South America
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Technavio’s industry coverage utilizes various sources and tools to gather information about multiple stakeholders and their offerings toward the laundry folding robots market. Sources such as company websites, annual reports, whitepapers, subscription & in-house databases, industry journals, publications, and magazines are used in addition to other relevant sources. The vendor landscape provides a framework to estimate the industrial machinery market, while also categorizing the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters.
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