Robotic Vacuum Cleaner Market size to grow by USD 6.33 billion from 2023 to 2028, Inclusion of air filters in robotic vacuum cleaners to drive the growth- Technavio

NEW YORK, Jan. 7, 2024 /PRNewswire/ -- The robotic vacuum cleaner market is expected to grow by USD 6.33 billion between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 16.53% during the forecast period. The market is segmented by application (residential and commercial), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The inclusion of air filters in robotic vacuum cleaners is a key factor driving market growth. Pollution has several effects, both on the outdoors as well as in the indoor environment. As a result, appropriate solutions to purify indoor air and make the environment healthy and clean have been developed by market players in robotic vacuum cleaners. HEPA filters with high efficiency that absorb minute particulates and provide clean air are also incorporated in robotic vacuum cleaners.

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Key Highlights:

• The report recognizes the following as some of the key players in the robotic vacuum cleaner market: AirCraft Home Ltd, Cyberdyne Inc., Dyson Group Co., Ecovacs Robotics Co. Ltd., Electrodomesticos Taurus SL, Electrolux AB, ILIFE INNOVATION Ltd., Irobot Corp., JS Global Lifestyle Co. Ltd., Koninklijke Philips N.V., LG Electronics Inc., Milagrow Humantech, Panasonic Holdings Corp., Proscenic, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., Trifo, Vorwerk Deutschland Stiftung and Co. KG, and Xiaomi Communications Co. Ltd.
• Robotic Vacuum Cleaner Market is fragmented in nature.
• Market to observe 19.4% YOY growth in 2024.

Market Dynamics:

Key Driver - The Robotic Vacuum Cleaner Market is expected to witness a rise due to the incorporation of air filters. Integrating advanced features like Lidar Sensors and HEPA Filtration enhances cleaning efficacy in these robots. This trend impacts Floor Cleaning Robots, enabling Multi-room and Carpet Cleaning Robotics. Moreover, it refines functionalities such as Edge Cleaning and Virtual Walls, alongside Scheduled Cleaning options. Additionally, increased Dustbin Capacity aligns with this trend, driving the market's growth in home automation and sensor technology.

Major Trend - The Robotic Vacuum Cleaner Market witnesses a trend with the emergence of low-cost robotic vacuum cleaners. These Smart Home Appliances, like IoT-enabled Vacuum Cleaners, utilize Navigation Algorithms and Mapping for precision. They feature Automated Cleaning Devices with Obstacle Avoidance, Voice Command integration, and Noise Reduction Technology. This advancement reflects Consumer Robotics trends, consumer preferences improving Cleaning Efficiency, and embracing Artificial Intelligence in Home Cleaning, shaping the market's trajectory towards affordable and intelligent cleaning solutions.

Significant Challenge - Challenges persist in the Robotic Vacuum Cleaner Market concerning battery life. Enhancing Battery Technology and implementing Wireless Charging solutions could mitigate this issue. Remote Control Apps and User-friendly Interfaces offer user convenience but require efficient power management. Market Competition drives the need for longer-lasting batteries. Additionally, ensuring accessible Maintenance and Repair Services helps address concerns while managing Price Points within the Robotic Vacuum Cleaner Segment poses another challenge in balancing affordability and performance.

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Keg Segments:

• The residential segment is estimated to witness significant growth during the forecast period. Households are one of the main end users of robot vacuum cleaners in the residential sector. Moreover, because only one-tenth of the entire addressable market is covered by manufacturers, this sector has a strong growth potential for robotics vacuum cleaners. Furthermore, the growth of this segment is driven by an increasing trend towards online retailing in the residential sector.

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The Residential Robotic Vacuum Cleaner Market size is estimated to grow by USD 5,081.33 million at a CAGR of 17.85% between 2022 and 2027.

The Consumer Robotics Market size is estimated to grow by USD 23,439.8 million at a CAGR of 26.89% between 2022 and 2027.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

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SOURCE Technavio