Robot Vacuum Cleaners Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted April 21, 2021 by Statzyreports

The robot vacuum cleaners market is expected to register a CAGR of 13% during the forecast period, 2021 - 2026.
 
The robot vacuum cleaners market is expected to register a CAGR of 13% during the forecast period, 2021 - 2026. The International Federation of Robotics (IFR) estimates that 31 million household robots to be sold between 2016 and 2019, and out of which 96% of which will be a vacuum and floor cleaning robots. This is encouraging companies to invest in the market.


- One of the major factors driving the deployment of the robot vacuum cleaner is that the highest number of occupational injuries being recorded in the janitorial industry. Statistics from the Bureau of Labor Statistics indicate that there are 2,384,600 building janitors and cleaners. Companies are spending about USD 60 billion on average annually. The factors like these are boosting the demand for robots vacuum cleaners.

- Another factor driving the market is the rapid advancement in the industry. For instance, in December 2018, Neato Robotics launched its on-demand zone cleaning robot vacuum, Botvac D7 Connected. The robot uses LIDAR technology to scan and map the efficient course of cleaning the designated room. Such technological advancements have a positive outlook on the market.

- However, the high cost of installation, coupled with the high cost of maintenance of the robot vacuum clearers, is hindering the market growth.

Key Market Trends

North America to Occupies Largest Market Share

- North America, which is among the leading innovators and pioneers in terms of adoption of robotics, is one of the largest markets. The primary reason for the growth of the market is the increasing adoption of these domestic robots across the region.
- Among all the household robots, automated vacuum cleaners and moppers are the most commercialized and developed products. The companies are continuously investing in developing more compact and integrated vacuum cleaner and mopping robots to reach small places at home.

- Further, the companies are integrating advanced technologies, like voice recognition and laser-based technologies, to map the floor structure. For instance, iRobot launched a Roomba i7+, which can acquire voice commands and is equipped with intelligent mapping techniques.
- Therefore, all the above factors are expected to drive the market in the North America Region.

Asia- Pacific to Witness Fastest Growth

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- The Asia-Pacific is expected to record the highest growth rate over the forecast period, owing to the significant adoption of robot vacuum cleaners throughout the region. 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.
- Further, the companies are expanding their footprint in the region to gain competitive advantages. For instance, in February 2019, iRobot Corporation upgraded its line of robotic vacuum cleaners by launching two new devices i.e.the iRobot Roomba i7 and the iRobot Roomba i7+ in India.

- As the region is still in its developing stage in terms of the adoption of robot vacuum cleaners, it is expected to present various opportunities to the vendors for expansion.
- Also, the companies in these regions are partnering to promote the development of robot vacuum cleaners. For example, in November 2019, Japan Softbank Group in partnership with Chinese startups named Roborock Technology Co., Ltd. launched an upgraded version of smart robot vacuum Roborock S6 in Japan.

- Further, the ongoing trends of an increase in the number of nuclear families is further creating a positive outlook on the market. These robots are designed to cater to the needs of the modern nuclear family, which eliminates the dependency on maids and reduces human efforts of maintaining the house.

Competitive Landscape

The robot vacuum cleaners market is very competitive primarily due to the presence of major players such as iRobot Corporation, Neato Robotics ( Vorwerk). Furthermore, the probability of new players entering the market is moderately high, which could further intensify the market competition. Product launch, high expense on research and development, and strategic partnership are the prime growth strategy followed by the companies to sustain the intense competition. Few recent developments related to the market are:

- August 2019 - Neato Robotics announced that they have added support for Siri Shortcuts to its latest robot vacuum cleaners. This would enable users to use voice commands to tell the robots to clean designated zones and recognize customized no-go lines.

- May 2019 - iRobot Corporation launched two robots that work together to provide the deepest clean possible in the home. The Roomba s9+ robot vacuum comes with Clean Base Automatic Dirt Disposal, and the Braava jet m6 robot mop tackles multiple rooms and large spaces with advanced navigation and mapping capabilities. These two robots use Imprint Link Technology to talk to each other for automatically vacuuming and then mopping, without any effort from the user.

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Tags covid19 impact , robot vacuum cleaners market , robot vacuum cleaners market trends , robot vacuum cleaners market forecast , robot vacuum cleaners market growth , robot vacuum cleaners market share , robot vacuum cleaners market size
Last Updated April 21, 2021