According to a recent study by certified market researcher ESOMAR, the robotic vacuum cleaner market is expected to exceed a valuation of US$3.5 billion in 2021. It is also expected to grow at a compound annual growth rate (CAGR) of over 14 .5% until 2031. .
Over the past few years, vacuum cleaner technology has evolved considerably. Due to their ability to clean an area without human intervention, sales of robot vacuum cleaners are exploding at a blistering pace. Additional features of robotic vacuums include rotating brushes, mopping, and UV sterilization. Some are designed to perform cleaning tasks efficiently. To deliver greater efficiency and high performance, manufacturers are integrating robot vacuums with security cameras, intercom systems, and other features.
Robot vacuums are the result of technological advances made possible by artificial intelligence (AI) and the Internet of Things (IoT). They can be programmed and used remotely to perform their cleaning tasks and they are smart enough to do so with minimal human intervention. With their advanced technologies, robots play an increasingly essential role in modern society, making human life easier and more comfortable.
Market players are focusing on producing more technologically advanced robotic vacuum cleaners using advanced technologies such as artificial intelligence (AI) (Artificial Intelligence). Samsung Electronics, for example, launched an AI robot vacuum cleaner in 2021 that improved object identification and operation performance through artificial intelligence (AI) technology.
Key Learnings from the Robotic Vacuum Cleaner Market Research
- In terms of charging mode, automatic battery charging type accounts for 70.9% of the total robotic vacuum cleaner market share in 2021.
- The United States is a key market in North America, accounting for 91.5% of robot vacuum sales in the region in 2021.
- The UK will emerge as a very lucrative market in Europe, posting a CAGR of 7.5%.
The COVID-19 outbreak has had a far-reaching impact, including the closure of all non-essential businesses and retailers, leading to loss of business confidence, heightened public concern and future uncertainty. It has spread indiscriminately all over the world, creating a dangerous inner atmosphere. The production rate of these vacuum cleaners had dropped dramatically all over the world following the sudden shutdown of manufacturing plants. The restrictions imposed have hampered sales as well as international exports and imports.
Additionally, COVID-19 has created new opportunities for robot vacuum manufacturers. Due to the need for cleanliness and hygiene in commercial spaces, industry players have seen their sales of robot vacuum cleaners increase from the second quarter of 2020.
Moreover, according to the International Federation of Robotics, the value of robot sales increased by 32% to $11.2 billion and the recent Covid-19 pandemic is expected to further boost the market.
Big winners in market growth
Major robot vacuum cleaner manufacturers are focusing on aggressive promotional strategies, advertisements and new product launches which have driven the growth of robot vacuum cleaner sales globally. The major players present in the robotic vacuum cleaner market are iRobot Corporation, LG Electronics, Robert Bosch GmbH, Samsung Corporation, Dyson Ltd., etc.
Full Robot Vacuum Cleaner Market Projections and Capabilities Report Available here.