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High-End Stick Vacuum Cleaner Market size is set to grow by USD 1.71 billion from 2024-2028, Increasing popularity of luxury home appliances boost the market, Technavio

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NEW YORK, June 17, 2024 /PRNewswire/ — The global high-end stick vacuum cleaner market size is estimated to grow by USD 1.71 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.6%  during the forecast period. Increasing popularity of luxury home appliances is driving market growth, with a trend towards growing demand from online retailing. However, availability of low-cost manual labor in developing countries  poses a challenge. Key market players include AB Electrolux, Alfred Karcher SE and Co KG., Atrix International Inc., BISSELL, Dyson Group Co., iVision Vacuum srl, JS Global Lifestyle Co. Ltd., Koninklijke Philips N.V., LG Corp., Midea Group Co. Ltd., Miele and Cie. KG, Numatic International Ltd., Panasonic Holdings Corp., Proscenic, Robert Bosch GmbH, Samsung Electronics Co. Ltd., SEB Developpement SA, Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Tineco Intelligent Technology Co. Ltd., and Xiaomi Communications Co. Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

High-End Stick Vacuum Cleaner Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.6%

Market growth 2024-2028

USD 1712.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.18

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 35%

Key countries

China, US, Germany, Japan, and France

Key companies profiled

AB Electrolux, Alfred Karcher SE and Co KG., Atrix International Inc., BISSELL, Dyson Group Co., iVision Vacuum srl, JS Global Lifestyle Co. Ltd., Koninklijke Philips N.V., LG Corp., Midea Group Co. Ltd., Miele and Cie. KG, Numatic International Ltd., Panasonic Holdings Corp., Proscenic, Robert Bosch GmbH, Samsung Electronics Co. Ltd., SEB Developpement SA, Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., Tineco Intelligent Technology Co. Ltd., and Xiaomi Communications Co. Ltd.

Market Driver

The global high-end stick vacuum cleaner market is experiencing significant growth due to the increasing adoption of online shopping. Factors such as the growing number of Internet users, trust in online retailing, and availability of quick shipping contribute to this trend. Major e-commerce platforms offer a wide range of high-end stick vacuum cleaners from brands like Dyson, Shark, and Tineco. Secure transactions and cash-on-delivery options further boost sales. In the US, online retail sales are projected to reach USD1.14 trillion by 2023, presenting cost-saving opportunities for vendors. This growth in online retailing is expected to continue driving the high-end stick vacuum cleaner market. 

The high-end stick vacuum cleaner market is experiencing significant growth due to increasing consumer demand for efficient and convenient cleaning solutions. Features such as powerful suction, lightweight design, and cordless functionality are driving the trend. Popular brands offer various models with advanced technologies like HEPA filtration, adjustable power settings, and rechargeable batteries.

The market is competitive with companies continually releasing new and innovative products. Consumers are looking for stick vacuums that provide excellent performance, ease of use, and long battery life. Additionally, the integration of smart technology and Wi-Fi connectivity is becoming a desirable feature in high-end stick vacuum cleaners. Overall, the market is expected to continue growing as consumers seek out premium cleaning solutions for their homes. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global high-end stick vacuum cleaner market faces challenges in developing countries due to the availability of low-cost labor. Manual workers, including housemaids and commercial cleaners, are preferred over high-end vacuum cleaners. The informal economy, which accounts for a significant portion of the labor force, presents issues such as high youth unemployment and skills shortages. Additionally, child labor remains prevalent in some regions, potentially hindering market growth. These factors collectively impact the demand for high-end stick vacuum cleaners in the affected markets.The high-end stick vacuum cleaner market faces several challenges. Homeowners seek powerful suction and versatility in their vacuum cleaners. Lightweight design is another essential factor. However, maintaining a balance between power and portability can be difficult. Components like filters and batteries require regular maintenance. Cost is also a significant challenge, as high-end stick vacuums can be pricey.Competition from other types of vacuums, such as canister and upright models, adds to the market’s complexity. Additionally, consumers expect long battery life, effective filtration, and easy-to-use features. Corners and tight spaces can be hard to reach, making maneuverability a key consideration. Overall, meeting these demands while keeping costs reasonable and maintaining a competitive edge is a significant challenge for manufacturers in the high-end stick vacuum cleaner market.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

Distribution Channel1.1 Offline1.2 OnlineApplication 2.1 Residential2.2 CommercialGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Offline-  The high-end stick vacuum cleaner market encompasses sales through various offline channels, such as specialty stores, department stores, hypermarkets, supermarkets, and convenience stores. Specialty stores, including brand-specific and multi-branded outlets, cater to consumers’ preference for purchasing high-end stick vacuum cleaners. Department stores, like Tesco, Lowes, and Home Depot, offer a wide range of home appliances and provide personal assistance, driving demand. Hypermarkets and supermarkets, known for discounted prices and knowledgeable sales personnel, anticipate increased demand for high-end stick vacuum cleaners.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The high-end stick vacuum cleaner market caters to modern households seeking time-saving, powerful, and versatile cleaning solutions. These devices, featuring sleek designs and cordless operation, offer quick cleaning technology through advanced filtration systems and intelligent sensors.

International e-commerce platforms facilitate online transactions for these upgraded vacuums, which may include rechargeable batteries and powerful suction for various surfaces such as floors, draperies, cushions, and upholstery. Heavier vacuums have been replaced by these lightweight structures, providing high-performance cleaning solutions without the constraint of a wire. The battery-operated cordless vacuum cleaners have revolutionized vacuuming jobs, offering convenience and efficiency for users.

Market Research Overview

The High-End Stick Vacuum Cleaner market represents a significant segment in the broader vacuum cleaner industry. These advanced devices offer superior suction power, lightweight design, and versatile functionality. High-end stick vacuums utilize various technologies such as lithium-ion batteries, cyclonic filtration, and intelligent sensors for optimal performance.

They are designed to cater to various floor types, including hardwood, tile, and carpet. The market for these vacuums is driven by consumer demand for convenience, effectiveness, and aesthetics. Additionally, the increasing popularity of cordless and compact appliances contributes to the growth of this market. The high-end stick vacuum cleaner market is expected to continue its expansion due to ongoing technological advancements and evolving consumer preferences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineApplicationResidentialCommercialGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Walletium Introduces the TEX Token

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LONDON, Jan. 14, 2025 /CNW/ — Walletium lets customers manage digital assets and traditional currencies on their own terms — all in one place. With the help of Walletium’s native TEX token, sending tokens becomes simpler and faster — even if customers don’t hold them beforehand.

TEX is the operational backbone of the Walletium network:

Transaction Fuel: Powers swaps and internal fees.Real Utility: Grows with platform adoption, rewarding everyday usage.Fair Pricing: Launched at $0.05, reflecting real demand rather than hype.

Central to Walletium is the Walletium Keyring, a universally formatted system for addresses and assets. Customers can freely import, create, and manage their addresses and private keys—without rigid workflows. We’ve designed Walletium to adapt to our customers, ensuring convenience never compromises security.

One of Walletium’s standout innovations is its near-zero fee internal transfers, covering token swaps and P2P transactions. Inside the Walletium ecosystem, customers can send tokens quickly and at minimal cost—even if they temporarily lack that token. TEX fuel dynamically covers these transactions, letting customers interact with any listed token whenever they need it.

To make Walletium user-friendly, we’ve integrated with Telegram via our Walletium Telegram Wallet. Customers can manage crypto on the go without extra installations or complex steps. Whether a new user or a seasoned pro, Walletium adapts to the user’s preferred style.

Walletium goes further than most wallets by offering direct fiat functionality. Load crypto into a virtual card and spend fiat wherever cards are accepted. No more juggling multiple platforms—store, send, and spend both digital and traditional currencies side by side.

Walletium is more than just another wallet; it’s the future of seamless finance. Join us and discover why Walletium is “One to Hold It All.”

Official Wallet: https://t.me/walletiumbot Official Site: https://walletium.netWalletium Wiki: https://wiki.walletium.net

Photo – https://mma.prnewswire.com/media/2595656/Walletium.jpg
Logo – https://mma.prnewswire.com/media/2596664/Walletium_Logo.jpg

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SOURCE Walletium

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Northeast Trade Services Joins Summit Automation as A New MMR

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Summit Automation, the premier door and window automation company, is proud to announce the addition of Northeast Trade Services (NETS) as a new Master Manufacturing Representative (MMR) to its growing roster of authorized partners. Northeast Trade Services will be covering Maine, New Hampshire, Vermont, Connecticut, Rhode Island, and portions of New York outside the areas of New York City and Long Island.

MESA, Ariz., Jan. 14, 2025 /PRNewswire-PRWeb/ — Summit Automation, the premier door and window automation company, is proud to announce the addition of Northeast Trade Services (NETS) as a new Master Manufacturing Representative (MMR) to its growing roster of authorized partners. Northeast Trade Services will be covering Maine, New Hampshire, Vermont, Connecticut, Rhode Island, and portions of New York outside the areas of New York City and Long Island.

“We are beyond excited to begin our expansion into the northeastern United States with Northeast Trade Services, a top-tier window and door installation company,” said Patrick (PJ) Gruetzmacher, CEO of Summit Automation.

“We are beyond excited to begin our expansion into the northeastern United States with Northeast Trade Services, a top-tier window and door installation company,” said Patrick (PJ) Gruetzmacher, CEO of Summit Automation.

A veteran-owned company, Summit Automation proudly invents, engineers, manufactures, and provides the best door and window automation systems in the world, all crafted right here in the USA. The company focuses on high quality, state-of-the-art automation systems that are fully integrated with other home automation components and smart homes to provide ease, convenience, elegance, and a touch of luxury to homes and businesses. Summit Automation’s residential and commercial systems are ETL listed, UL325 compliant, and they are suitable for all sized sliding and pivoting doors and windows.

“We are excited to announce our partnership with Summit Automation,” said Keenan Burns, Co-Founder of Northeast Trade Services. “This collaboration allows us to combine our strengths and deliver automation solutions that enhance both the functionality and value of our installations for our customers. Together, we share a vision of innovation, growth, and providing best-in-class solutions to our customers.”

Michael Roy, Co-Founder of Northeast Trade Services, commented, “Summit Automation provides the best automation solutions for windows and doors, and we are pleased to join their team as a Master Manufacturing Representative. We take great pride in our specialization in window and door installations, and we are thrilled to bring that same level of expertise to the field of automation solutions.”

Northeast Trade Services was born from the knowledge that even the best windows and doors are only as good as a quality installation. With a combined 60 years of experience, founders Keenan Burns and Michael Roy bring a unique skill set to the industry. They are committed to delivering exceptional results for customers and work closely with the trades community throughout the process to ensure the best solutions are achieved.

About Summit Automation:

Summit Automation (https://SummitAutomation.com/) invents, engineers, manufactures, and provides automation systems for homes and businesses across the world. The cutting-edge, reliable systems are easily operated via tamper-proof touchscreen keypads, a smartphone app, smart motion sensors, or voice commands. Summit Automation systems are available exclusively through OEM partners, MMRs, certified dealers, and installers.

Company Contact:

Patrick (PJ) Gruetzmacher, CEOEmail: PJGruetzmacher@SummitAutomation.comPhone: 480-500-5468Website: https://SummitAutomation.com/

About Northeast Trade Services:

Northeast Trade Services (https://netradeservices.com) provides window and door installation, performance testing, and consultation services to the builder and architectural community. The company specializes in providing trade professionals with turnkey window and door installation services – so crews can focus on other parts of projects. Their team of professional installers delivers a seamless experience on residential and light commercial projects.

Company Contacts:

Keenan Burns – Co-FounderMichael Roy – Co-FounderEmail: info@netradeservices.comPhone: Keenan Burns 207-691-0377, Michael Roy 207-542-9985Website: https://netradeservices.com

Media Contact

Patrick (PJ) Gruetzmacher, CEO, Summit Automation, 1 480-500-5468, PJGruetzmacher@SummitAutomation.com, https://SummitAutomation.com/ 

Keenan Burns & Michael Roy, Northeast Trade Services, 1 207-691-0377, info@netradeservices.com, https://netradeservices.com

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SOURCE Summit Automation

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BforeAI Secures Series B Funding to Preempt Malicious Attacks Through PreCrime™ AI

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Funded by Titanium Ventures, investment will accelerate growth into new markets

NEW YORK, Jan. 14, 2025 /PRNewswire/ — BforeAI, the world’s fastest and most accurate predictive attack intelligence and digital risk protection solution, announced today the company has closed an oversubscribed $10 million Series B round of funding led by Titanium Ventures. This investment round brings the company’s total funding to over $30 million and will accelerate market expansion in the utilities, pharmaceutical and healthcare sectors as the company continues to enhance its PreCrime™ platform, expand sales resources, and strengthen partnerships.

“This investment round will enable us to continue our important work to predict and stop new types of attacks before businesses and their customers are harmed,” said Luigi Lenguito, CEO and Founder at BforeAI. “We did not need the additional funding as we closed Series A with SYN Ventures less than 6 months ago. We wanted to work with Titanium Ventures to accelerate our growth into new industry sectors where we have already seen recent success and further increase the scalability of our predictions.”

“BforeAI offers a unique solution in a crowded cybersecurity market, being able to predict, disrupt and stop a cybersecurity event before it happens, putting the customer ahead of the attacker and out of their reactive response mode,” said Marcus Bartram, General Partner at Titanium Ventures. “Titanium thinks that this capability is important and relevant to customers globally and are excited to be working with the BforeAI team to build a large and impactful company.”

BforeAI’s mission is to proactively safeguard data, IT/OT networks, digital assets, customers, employees, and brand reputation. Enabling organizations to effectively preempt risks in advance of an attack, the PreCrime platform is powered by behavioral predictive intelligence, monitors 98% of the Internet to stay ahead of cyber threats by 18 days on average, and has a false positive rate of a mere 0.05%.

Over the past year, BforeAI grew substantially and achieved key milestones, including launching the PreCrime Guarantee and its breach protection pledge in partnership with the leading global cyber insurance provider. The PreCrime Guarantee reimburses customers up to ten times the value of their service contract if impacted by a cyberattack due to a failure by BforeAI’s predictive solution. Most recently, BforeAI was recognized in the 2024 Gartner® Cool Vendors™ for Artificial Intelligence in Banking and Investment Services1. The report serves as a guide to help chief information security officers (CISO), chief information officers (CIO), and chief data officers (CDO) in financial services and cyber fraud fusion centers identify solution partners for quick detection of risks and preemptive action before a fraud attempt even happens.

“BforeAI has quickly proven itself as the leader in predictive security solutions,” said Maria Gotsch, President and CEO, Partnership Fund for New York City. “We were excited to support BforeAI’s relocation of its headquarters to New York following their participation in our FinTech Innovation Lab. By expanding their focus to utilities with this funding round, BforeAI has the potential to play a key role in protecting critical infrastructure in the city and beyond.”

Existing investors SYN Ventures, Karista, and Addendum Capital, recognizing the company’s strong growth trajectory, participated in this round to maintain their ownership stakes.

Stamina Law in New York City, by Jade Ruscev, provided legal counsel to the company for the financing round.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About BforeAI
BforeAI is a pioneer in Predictive Attack Intelligence and Digital Risk Protection Services (DRPS). Our PreCrime platform uses behavioral AI to predict and automatically preempt malicious campaigns, resulting in the fastest, most accurate solution to stop attacks weeks before they happen. To learn more, visit bfore.ai.

About Titanium Ventures
Titanium Ventures Accelerates the Extraordinary – the venture capital firm fuels the growth of standout disruptors. In its first twelve years, 104 investments have generated 44 liquidity events including Auth0, BigCommerce, Box, Cloopen, CrowdStrike, DocuSign, GitLab, Nasuni, OpenGov and Snap. To date, Titanium Ventures’ Revenue Acceleration Platform has driven >USD$660M in revenue for its portfolio companies, extending their reach across the U.S., Australia, Asia, and the UK. In 2022, the firm announced the close of its third fund, bringing Funds Under Management to USD$1 B. To see Titanium Ventures’ full portfolio and learn more, visit www.ti.vc.

1 Gartner, Cool Vendors for Artificial Intelligence in Banking and Investment Services by Jasleen Kaur Sindhu, Uri Lerner, Pete Redshaw, 6 November 2024.

Media Contact:
Andy Tzortzinis
Director of Brand and Product Marketing
BforeAI
media@bfore.ai

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SOURCE BforeAI

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