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Robotic Vacuum Cleaners Market to Be Worth $33.3 Billion by 2031 – Exclusive Report by Meticulous Research®

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REDDING, Calif., June 19, 2024 /PRNewswire/ — According to a new market research report titled, ‘Robotic Vacuum Cleaners Market by Type (Cleaning Robots, Mopping Robots, Hybrid Robots), Distribution Channel, Operation (Self-driven, Remote-controlled), Price Range, Application (Residential, Commercial), and Geography—Global Forecast to 2031,’ the robotic vacuum cleaners market is projected to reach $33.3 billion by 2031, at a CAGR of 26.9% from 2024–2031.

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Robotic vacuum cleaners are autonomous appliances enabled with intelligent programming for cleaning purposes in a residential and commercial setup. The navigation algorithm helps robotic vacuum cleaners to navigate and move around obstacles. They are built with smart sensors, such as edge, cliff, collision, obstacle, and laser distance sensors, to perform cleaning tasks without human intervention. Robotic vacuums can perform cleaning tasks without human intervention, so the robotic vacuum cleaners can be scheduled to clean the floor via a smartphone application, WIFI, or Bluetooth connectivity.

This report covers the robotic vacuum cleaners market based on type, distribution channel, operation, price range, application, and geography. It also presents detailed insights into the factors expected to influence the overall market revenue during the forecast period.

The global robotic vacuum cleaners market is segmented by type (cleaning robots, hybrid robots, mopping robots), distribution channel (online, offline), operation (self-driven, remote-controlled), price range (below USD 200, USD 201 to USD 500, above USD 501), application (residential, commercial (hospitality, healthcare, retail, offices, other commercial applications)). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on type, the robotic vacuum cleaners market is segmented into cleaning robots, hybrid robots, and mopping robots. In 2024, the cleaning robots segment is expected to account for the largest share of around 48% of the robotic vacuum cleaners market. The large market share of this segment is attributed to the growing demand for smart & connected products, including cleaning robots in homes, the growing importance of improved functionality and performance with no human interference, and the increasing importance of clean and hygienic homes. These automatic vacuum cleaners use various technologies, such as online mapping of the home, remote access, and an anti-collision system, to ensure efficient cleaning without any difficulties during the cleaning process.

Based on distribution channel, the robotic vacuum cleaners market is segmented into online and offline. In 2024, the online segment is expected to account for the larger share of around 83% of the global robotic vacuum cleaners market. The large market share of this segment is attributed to the growth of the e-commerce industry, convenience of shopping from home, availability of a wide range of vacuum cleaners, discounts/lower prices, detailed information for prospective buyers, and comparison of various models/brands. On an online platform, companies have the autonomy to display a whole range of products to attract customers with different tastes and needs. This enables the buyers to choose from various models after comparing the finish, features, and price of the products on display.

Based on operation, the robotic vacuum cleaners market is segmented into self-driven and remote-controlled. In 2024, the self-driven segment is expected to account for the larger share of around 68% of the robotic vacuum cleaners market. However, the remote-controlled segment is projected to register the highest CAGR during the forecast period. The segment’s growth is attributed to the increasing demand for AI-enabled vacuum cleaners, key players’ increasing strategic developments to offer remote control functionalities through smartphone apps, and technological advancements in home appliances. A remote-controlled vacuum cleaner is built with a vacuum cleaner vehicle that helps the cleaner position and move in any direction on the floor. It also includes a handheld remote-control device and a transmitter for sending control signals.

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Based on price range, the robotic vacuum cleaners market is segmented into below USD 200, USD 201 to USD 500, and above USD 501. In 2024, the USD 201 to USD 500 segment is expected to account for the largest share of the robotic vacuum cleaners market. However, the above USD 501 segment is projected to register the highest CAGR during the forecast period. The segment’s growth is attributed to the increasing investment in premium appliances, the popularity of smart home appliances, and the increasing demand for high-end vacuums with stronger suction power, better filtration systems, and specialized attachments for deep cleaning, justifying the higher price tag.

Based on application, the robotic vacuum cleaners market is segmented into residential and commercial. In 2024, the residential segment is expected to account for the larger share of around 78% of the robotic vacuum cleaners market. The large market share of this segment is attributed to the busy lifestyle of consumers, technological advancement in home appliances, and increasing awareness of hygiene. The residential robotic vacuums market has witnessed innovations, such as UV sterilization, spinning brushes, and security cameras for homes, pets, and older adults. Companies are integrating new technologies in robotic vacuum cleaners.

Based on geography, the robotic vacuum cleaners market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of around 45% of the robotic vacuum cleaners market. The market growth in Asia-Pacific is driven by the increasing importance of clean and hygienic homes, shifting consumer preference toward purchasing intelligent home appliances, growing adoption of smart & connected products in homes, and the increased availability of technically advanced products. Due to the higher purchasing power of the people in China and South Korea, the demand for automated electronic products is also escalating in the region.

The key players operating in the robotic vacuum cleaners market are iRobot Corporation (U.S.), ECOVACS Robotics Co., Ltd. (China), Beijing Roborock Technology Co. Ltd. (China), Anker Innovation Technology Co., Ltd. (China), Samsung Electronics Co., Ltd (South Korea), Shenzhen Proscenic Technology Co. Ltd. (China), Neato Robotics, Inc. (U.S.), Cecotec Innovaciones S.L. (Spain), LG Electronics Inc (South Korea), Dyson Limited (U.K.), Panasonic Corporation (Japan), and Sharp Corporation (U.S.).

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Scope of the Report:

Robotic Vacuum Cleaners Market Assessment—by Type

Cleaning RobotsHybrid RobotsMopping Robots

Robotic Vacuum Cleaners Market Assessment—by Distribution Channel

OnlineOffline

Robotic Vacuum Cleaners Market Assessment—by Operation

Self-drivenRemote-controlled

Robotic Vacuum Cleaners Market Assessment—by Price Range

Below USD 200USD 201 to USD 500Above USD 501

Robotic Vacuum Cleaners Market Assessment—by Application

ResidentialCommercialHospitalityHealthcareRetailOfficesOther Commercial Applications

Robotic Vacuum Cleaners Market Assessment—by Geography 

North AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainRussiaRest of EuropeAsia-PacificJapanChinaIndiaSouth KoreaRest of Asia-PacificLatin AmericaMexicoBrazilRest of Latin AmericaMiddle East & AfricaUAESaudi ArabiaSouth AfricaRest of Middle East & Africa

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Related Reports:

Vacuum Pumps Market by Type (Gas Transfer Pumps, Gas Bindings/Entrapment Pumps), Lubrication (Dry Vacuum Pumps, Wet Vacuum Pumps), Pressure, End-use Industry and Geography – Global Forecasts to 2030

Smart Home Market by Product Type (Smart Lightning Systems, Smart Speakers, Smart Security & Monitoring Systems, Smart Home Appliances), Protocols & Standards (Wireless Protocols, Wired Protocols, Hybrid Protocols), and Geography – Global Forecast to 2030

Consumer Electronics Market Size, Share, Forecast, & Trends Analysis by Product Type (Smartphones & Tablets, Smart Wearables, Laptop & Desktop, Lightning Systems, Digital Cameras), Distribution Channel (Online, Offline), and Geography – Global Forecast to 2031

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
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California, 96001, U.S.
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Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
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Doo Group Strengthens Global Reach with CySEC License for Doo Financial

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LIMASSOL, Cyprus , Nov. 15, 2024 /PRNewswire/ — Doo Group is proud to announce that Doo Financial, one of its brands, has been awarded a new license by the Cyprus Securities and Exchange Commission (CySEC). This achievement strengthens Doo Group’s commitment to providing a secure and regulated trading environment for its clients globally.

Expanding Regulatory Reach

The addition of the CySEC license highlights Doo Group’s extensive regulatory framework, which already spans across multiple financial jurisdictions, including the United Kingdom, Australia, Hong Kong and Malaysia. This strategic milestone reflects Doo Group’s dedication to ensuring compliance with international regulatory standards and prioritizing client security. As a European Supervisory Authority, CySEC offers a robust regulatory environment and is expected to enhance client confidence. For Doo Group, this new regulatory milestone reinforces its reputation as a trusted, reliable financial services provider.

“Acquiring the new license from CySEC is a significant milestone for Doo Financial, marking a key step in our ongoing growth and strategic expansion. This achievement not only reinforces our commitment to maintaining the highest standards of regulatory excellence but also solidifies our position as a trusted, reliable financial institution within Europe. By aligning with CySEC’s rigorous requirements, we are better positioned to offer enhanced services to our clients, foster greater transparency, and ensure long-term stability in an increasingly complex and dynamic financial landscape.” Costas Kappai, Doo Financial EU

Strengthening Client Confidence

Doo Financial EU, the European branch of Doo Financial, is now positioned to serve clients across Europe under the guidelines of a European Supervisory Authority. European clients will benefit from CySEC’s regulatory protections, including client fund safety and transparent business practices, ensuring a secure and trustworthy trading experience. This development allows Doo Financial EU to offer its suite of financial services and trading products to a wider audience, backed by the credibility and oversight of CySEC.

By expanding its regulatory reach, Doo Group continues to strengthen its position in the global financial market, enabling clients to trade with confidence. The CySEC license is another step toward achieving Doo Group’s vision of becoming a leader in financial services.

About Doo Group

Founded in 2014 and headquartered in Singapore, Doo Group is an international financial services provider with a focus on FinTech. With operations across 10 major business lines—including Brokerage, Wealth Management, Payments, and Digital Marketing—we are dedicated to delivering comprehensive financial solutions that empower our clients to explore a better future.

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Liberty General Insurance Continues to Drive Insurance Awareness and Inclusion with ‘Suraksha ka Vaada Bima ke Saath’ Initiative Across Delhi and Punjab

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NEW DELHI, Nov. 15, 2024 /PRNewswire/ — Liberty General Insurance, one of the leading non-life insurance companies in India and the lead insurer for Delhi under the Insurance Regulatory and Development Authority of India’s (IRDAI) State Insurance Plan, is spearheading an insurance awareness initiative in Delhi. While there are no gram panchayats in Delhi, Liberty continues to drive insurance awareness through grassroots and digital outreach.

In parallel, Liberty is fulfilling its rural and social obligations by focusing on underserved areas in Punjab. This effort includes a recently initiated awareness campaign across 400 gram panchayats in Punjab to expand insurance penetration and increase accessibility in these regions.

In Delhi, Liberty continues to create awareness under ‘Suraksha ka Vaada Bima ke Saath’ initiative launched in 2023. This October Liberty began with a Door-to-Door Campaign across North-West and North East Delhi, reaching over 1600 households in Karala Village, Budh Vihar, Kanjawala Village and Begumpur, Burari, Kanhiya Nagar, Rampura, and Jahangirpuri, achieving over 25000 impressions. Over nearly a month, Liberty’s teams engaged with residents, distributing leaflets and explaining the benefits of motor and health insurance. This campaign was followed by the ‘Nukkad Natak’ (Street Play) initiative in South Delhi, targeting key neighborhoods of Sarojini Nagar, Lajpat Nagar, Nirman Vihar, Lakshmi Nagar, and Begumpur chowk market. The street plays used interactive performances to educate communities on the importance of insurance and dispel common myths. To reinforce the message, Liberty’s team also disseminated copies of the ‘Wise Ways of Insurance’ booklet—a unique resource developed to demystify insurance products and promote informed decision-making. The booklet, which is being translated into vernacular languages, is also being distributed in other states as part of Liberty’s commitment to financial literacy across India.

Complementing its on-ground efforts, Liberty General Insurance continues to leverage social media to drive targeted insurance awareness campaigns. Recognizing that widespread mobile access allows more people to connect online, Liberty reaches both rural and urban audiences, empowering individuals everywhere with the knowledge needed to make informed financial decisions.

Commenting on this awareness drive, Mr. Parag Ved, CEO & Whole-Time Director, Liberty General Insurance said, “Our ‘Suraksha ka Vaada Bima ke Saath’ campaign is an effort in line with IRDAI’s ‘Insurance for All by 2047’ vision, towards empowering communities across Delhi, Punjab, and beyond with the financial security that insurance provides. With general insurance penetration in India still at less than 1% of its GDP, there is a pressing need to educate communities and break down the barriers to understanding the importance of insurance. Liberty will ensure that its wide distribution network makes policies accessible to all, so that every citizen—no matter where they are—can access the financial safety net that insurance offers.”

“Liberty is committed to fostering a culture of financial resilience where every Indian can feel secure about their future. Together, we are building a future where insurance isn’t just a product but a promise of protection and peace of mind,Mr. Ved added.

Looking ahead, Liberty will be rolling out a transit media campaign across South Delhi in December, utilizing branded auto rickshaws to increase visibility and connect with residents in this vibrant area of the capital. By leveraging transit media, Liberty aims to bring insurance awareness into people’s daily routines, making information accessible in familiar, everyday settings. This campaign builds on the success of previous awareness initiatives and reinforces Liberty’s commitment to educating and empowering individuals about insurance.

About Liberty General Insurance

Liberty General Insurance Ltd. (LGI) is a joint venture between Summit Asia Investment Holdings PTE Ltd.— a group company of Liberty Mutual Insurance Group, a diversified global insurer with over 900 offices across the world, headquartered in the U.S., Enam Securities, and Diamond Dealtrade. LGI commenced operations in 2013 with the aim of providing comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of 1100+ with presence across 100+ locations in 28 states and UTs. Its partner network consists of about 6000+ hospitals and more than 5000 auto service centres. The company offers health and personal accident insurance, car and two-wheeler insurance, employee compensation insurance, commercial insurance, engineering insurance, marine insurance, liability insurance and property insurance among other products in India.

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Hikvision unveils WonderHub and elevates smart collaboration across industries

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HANGZHOU, China, Nov. 15, 2024 /CNW/ — Hikvision unveiled its fully upgraded smart collaboration business. The event showcased a range of innovative products designed to transform collaboration in education, meetings, retail, and more. Among the highlights were cutting-edge solutions like WonderHub interactive displays, digital signage, and video conference devices. These products underscore Hikvision’s commitment to driving digital transformation and enhancing user experiences in an increasingly connected world.

At the heart of this ecosystem is WonderHub, which features WonderOS, an AI-powered platform that seamlessly connects devices and enhances collaboration. With tools like WonderSpark for interactive whiteboards and WonderCast for wireless content sharing, WonderHub enables users to communicate, create, and collaborate more effectively than ever.

Boosting Classroom Engagement with Innovative Solutions

In education, WonderHub is designed to elevate classroom experiences. The interactive displays enable students to share and express ideas effortlessly, creating a more engaging and dynamic learning environment. The built-in WonderSpark smart whiteboard software uses AI to recognize equations, provide solutions, and generate interactive 3D teaching materials across subjects like mathematics, chemistry, and natural sciences. Teachers can also access licensed images and videos through Creative Commons integration, enriching lesson content and boosting student engagement.

Classrooms equipped with WonderHub also benefit from multi-window modes and a suite of 19 educational tools. These include subject-specific templates and interactive applications. For remote learning, WonderHub integrates seamlessly with third-party conferencing platforms, allowing students to collaborate in real-time, no matter their location.

Empowering Business Meetings with Intelligent Features

Hikvision’s smart collaboration solutions transform business meetings into more efficient and immersive experiences. The WonderHub Ultra Series allows users to easily connect personal devices and leverage the interactive display’s camera, speakers, and microphone for high-quality remote conferencing. The HiSpire meeting management system streamlines meeting logistics, including room scheduling, attendee notifications, post-meeting summaries, and distribution of materials.

Advanced AI features, such as auto-framing and speaker tracking, ensure optimal video quality. Meanwhile, app-free screen casting allows for easy sharing of presentation materials. The X12 and X28 audio-video cameras offer enterprises tailored setups to suit meeting rooms of any size, ensuring seamless communication with high-definition video and precise audio capture.

Transforming Retail Spaces with Dynamic Digital Signage

Hikvision has also advanced its digital signage solutions to enhance customer engagement in retail scenarios. The vibrant displays and centralized content management allow retailers to effectively capture attention. High-brightness window displays attract passersby with promotions and new product highlights. Meanwhile, floor-standing signage supports interactive features, such as self-service ordering. The HikCentral FocSign platform enables retailers to remotely manage and distribute content across multiple locations, improving operational efficiency and ensuring consistent branding.

These digital signage solutions, including the DP and DL series, boast superior brightness and clarity, ensuring visibility even in strong lighting conditions. The displays run on Hikvision’s self-developed platform and support WonderCast wireless casting, enabling quick and easy content sharing from various devices.

Since entering the smart collaboration market in 2017, Hikvision has rapidly become a leading global player. With over 300,000 units sold across more than 140 countries and regions, Hikvision’s smart collaboration business exemplifies the company’s commitment to innovation, quality, and user-centric design. As a key highlight of this evolution, the fully upgraded WonderHub represents the next leap forward in smart collaboration technology.

By bridging advanced technology with practical applications, WonderHub, along with Hikvision’s broader range of smart collaboration solutions, is leading the way in providing more efficient and intelligent solutions for users worldwide.

For more information about Hikvision’s smart collaboration products and solutions, please visit Hikvision’s official website.

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