The increase in popularity of technologies for smart homes, as well as improvements in AI and machine learning, which improve the effectiveness and ease of use of these devices, drive the growth of residential robotic vacuum cleaner market.
WILMINGTON, Del., Aug. 14, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Residential Robotic Vacuum Cleaner Market by Type (Floor vacuum cleaner and Pool vacuum cleaner), by Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the residential robotic vacuum cleaner market was valued at $2.6 billion in 2023, and is estimated to reach $9.6 billion by 2033, growing at a CAGR of 13.9% from 2024 to 2033.
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Prime determinants of growth
The global residential robotic vacuum cleaner market has experienced growth due to several factors such as increase in adoption of smart home technologies, advancements in AI & machine learning, and heightened awareness of hygiene. However, high initial cost and data privacy concerns hinder market growth. Moreover, an increase in technological innovations, sustainability trends, and product diversification offers remunerative opportunities for the expansion of the global residential robotic vacuum cleaner market.
Report coverage & details:
Report Coverage
Details
Forecast Period
2024–2033
Base Year
2023
Market Size in 2023
$2.6 billion
Market Size in 2033
$9.6 billion
CAGR
13.9 %
No. of Pages in Report
200
Segments Covered
Type, Distribution Channel, and Region.
Drivers
Increase in Adoption of Smart Home Technologies Advancements in AI and Machine Learning Heightened Awareness of Hygiene
Opportunities
Product Diversification Technological Innovations
Restraints
High Initial Cost Battery Life Constraints Durability and Reliability Issues
Segment Highlights
The floor vacuum cleaner segment is expected to grow faster throughout the forecast period.
By type, the floor vacuum cleaner segment held the highest market share in 2023, accounting for more than half of the global residential robotic vacuum cleaner market revenue and is likely to retain its dominance throughout the forecast period. The increasing consumer demand for efficient and convenient cleaning solutions driven by busy lifestyles and a heightened focus on hygiene is increasing the demand for floor vacuum cleaners. Technological advancements, such as the integration of AI for improved navigation and suction power, have significantly enhanced product performance and appeal of the product.
The offline segment is expected to grow faster throughout the forecast period.
By distribution channel, the offline segment held the highest market share in 2023, accounting for nearly four-fifths of the global residential robotic vacuum cleaner market revenue and is likely to retain its dominance throughout the forecast period. One of the primary factors influencing the offline segment’s development is consumers’ continuous preference for in-store shopping experiences in which they can physically engage with and inspect things before purchasing. Retail shops and showrooms offer personalized customer attention and higher availability of goods, increasing buyer confidence and satisfaction.
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Regional Outlook
North America to maintain its dominance by 2033.
By region, North America held the highest market share in terms of revenue in 2023, accounting for nearly one-third of the global residential robotic vacuum cleaner market revenue and is expected to boost in terms of revenue throughout the forecast period. North America has significant consumer disposable income, which makes it possible for the adoption of modern home automation technology. The region’s robust technology infrastructure fosters advance in artificial intelligence and smart home ecosystems, enabling residential robotic vacuum cleaners to become increasingly appealing and accessible. Furthermore, greater awareness of hygiene and cleanliness, notably in the aftermath of the COVID-19 pandemic, has driven up consumer interest in automated cleaning solutions.
Key Market Players: –
Ecovacs Robotic Co. LtdRoborock Technologies Co. LtdLG Electronics, InciRobot CorporationCecotec Innovaciones SLNeato Robotics Inc.Electrolux ABSharkNinja Operating LLCPanasonic CorporationHaier Group Corporation
The report provides a detailed analysis of these key players in the global residential robotic vacuum cleaner market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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Recent Industry Developments
In October 2022, Ecovacs introduced the DEEBOT N8 2-in-1, including greater suction capacity and innovative dToF technology that provides improved cleaning effectiveness and extremely powerful suction (3000 Pa) . It covers more than 2000 square feet on a single charge and has innovative dToF technology with OZMO mopping. It uses Next-Gen laser guiding technology to scan, map, and calculate an effective cleaning path.In August 2022, Amazon announced an agreement to purchase iRobot, the creator of Roomba robot vacuum cleaners, for $1.7 billion. iRobot, most recognized for its popular robotic vacuum Roomba, has subsequently expanded the range of its goods to include additional household cleaning robots like mops and lawnmowers.In May 2022, Haier revealed its first smart vacuum cleaner technology in India, the 2-in-1 drying & wet mop Robot Vacuum Cleaner. The vacuum cleaner has 2.4 GHz Wi-Fi and Google Home Assistant, as well as smart management capabilities including the Haier smart app, voice command, and remote control.
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