PUNE, India, October 7, 2015 /PRNewswire/ --
According to a new market research report "Cleaning Robot Market by Product (Floor Robot, Pool Robot, Window Robot, Lawn Robot, Others), by Vertical (Residential, Commercial, Industrial, Healthcare, Others), by Region (North America, Europe, Asia-Pacific, RoW) - Global Forecast to 2020", published by MarketsandMarkets, the Cleaning Robot Market is expected to reach USD 2.50 Billion by 2020, at a CAGR of 15.3%.
Browse 65 market data Tables and 97 Figures spread through 148 Pages and in-depth TOC on "Cleaning Robot Market"
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Globally, the cleaning robot market is expected to witness steady growth owing to the utility of cleaning robots in various verticals. This report segments the cleaning robot market on the basis of product (Floor Robot, Pool Robot, Window Robot, Lawn Robot, Others), vertical (Residential, Commercial, Industrial, Healthcare, Others), and region (North America, Europe, Asia-Pacific, RoW). North America held the largest share of 39.9% in the cleaning robot market, in 2014 and the market in the region is expected to grow at the highest CAGR of 16.2% between 2015 and 2020.
The report contains market size projections, and analyses of trends in the market. Each of these regions has been further split into major countries to analyze the regional cleaning robot market.
This report also describes drivers, restraints, opportunities, and challenges for the growth of the cleaning robot market. The factor which is driving the market is the increase in the demand of cleaning robots owing to the rise in labor costs.
Cleaning robot becomes a one-time investment for individuals exploring cost-effective cleaning services. Further, with technological improvements in vacuum cleaners; highly advanced, small-sized, and efficient cleaning appliances are being developed. These robots can easily fit into limited spaces compared to traditional robots.
The emergence of futuristic robotics is supporting the innovation of smaller but technologically advanced and cheaper cleaning robots. Therefore, the development of small-sized cleaning robots serves to be a significant driving factor for the growth of this market.
The Cleaning Robot Market has been segmented into various verticals- residential, commercial, industrial, and healthcare, among others. The others category includes verticals such as small business units and contract service providers. The residential vertical segment led the global cleaning robot market in 2014, and accounted for a share of 59.4%.
In 2014, the floor cleaning robot segment held the largest share of 59.8% of the market for the residential vertical.
The research study is aimed at identifying emerging trends and opportunities in the global cleaning robot market along with detailed classifications, and size in terms of value and volume. It provides a comprehensive competitive landscape and identifies the key players with respect to market size and market share.
The research study also includes a detailed segmentation of the global cleaning robot market on the basis of products, verticals, and geography.
Apart from the market segmentation, this report also uses the Porter's five forces, which provides an in-depth analysis of the market providing a detailed process flow diagram and market dynamics such as drivers, restraints, and opportunities in the cleaning robot market.
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Some of the companies involved in the market include Dyson Ltd. (Cotswolds, U.K.), Ecovacs Robotics, Inc. (U.S.), Infinuvo (U.S.), iRobot Corporation (Bedford, MA), Koninklijke Philips N.V. (Netherlands), LG Electronics, Inc. (Seoul, South Korea), Neato Robotics, Inc. (Newark, U.S.), Samsung Electronics Co., Ltd. (Suwon, South Korea)
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