The Global Robotic Lawn Mower Market to Reach Revenues of Over $2.5 Billion During the Period 2018−2024- Market Research by Arizton

CHICAGO, May 21, 2019 /PRNewswire/ -- According to Arizton's recent research report, the global robotic lawn mower market is expected to reach over $2.5 billionby 2024, growing at a CAGR of over 14% during 2018−2024.The report offers market share analysis in terms of unit volumes during the forecast period.

Key Highlights Offered in the Report:

1. AI-enabled smart robotic mowers, projected to post an absolute market growth of 224% during 2018–2024, is expected to add impetus to the growing robotic lawn mowers market worldwide.
2. The future market demand for robotic mowers likely to be buoyed by ongoing innovations such as Husqvarna's future concept model for its robotic lawn mowers fleet, Solea System. The integration of voice-control features is likely to be a crucial part of futuristic models.
3. The growing global expenditure on smart living, which is expected to reach over $140 billion by 2024,is likely to generate a promising demand for robotic units in the future.
4. The arrival of irobot's Terra smart robotic mower could prove a catalyst forthe slow-growing US robotic mowers market. Arizton believes that the commercial launch of Terra can act as a stimulus to the world's largest market for lawn and garden equipment, which has otherwise remained a slow adopter of robotic lawn mowers.
5. Vendors such as Husqvarna, Yamabiko, ZCS, and TURFLYNX have been investing in commercial robotic mowers and have introduced robotic units with enhanced mowing capabilities and battery-backup. This couple with increasing inclination of end-users  toward eco-friendly products to reduce carbon footprint is likely to pave a way for robotic mowers in the commercial segment of the market.

Key Offerings:

• Market Size & Forecast by Revenueand Units| 2018−2024
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation –A detailed analysis by lawn size, end-user, technology, distribution, and geography.
• Competitive Landscape – Profile of 6 key vendors and 22other prominentvendors.

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Robotic Lawn MowerMarket – Segmentation

The market research report includes a detailed market segmentation by lawn size, end-user, technology, distribution, and geography.

• In 2018, the residential users segment dominated the market with its 92% and 94% market shares in terms of value and unit shipment, respectively.The growth spurt is expected to come from the adoption of robotic lawn mowers in the world's two largest garden equipment markets – the US and the UK.
• The robotic lawn mowers market by large-sized lawns segment is expected to reach revenue of over $90 million in 2024,growing at a CAGR of 25% during 2018−2024.

Market Segmentation by End-users

• Residential
• Professional Landscaping Services
• Golf Courses and Others

Market Segmentation by Lawn Type

• Small-sized
• Medium-sized
• Large-sized

Market Segmentation by Technology

• Non-smart
• Smart

Market Segmentation by Distribution Channels

• Retail
• Online

Robotic Lawn Mower Market – Dynamics

Mowing has evolved from trimming grass on flat surfaces to a holistically optimized function that is constantly setting new standards in terms of performance and sustainability. This evolution can largely be attributed to the development of modern-day commercial robotic mowers.

Key Drivers and Trends fueling Growth:

• Growing Convergence of Consumer Electronics and IoT
• Increased Adoption of Green Spaces and Green Roofs
• Resolution of Safety Hazards of Traditional Lawn Mowers

Robotic Lawn Mower Market –Geography

Europe was the largest segment of the global robotic lawn mower market, accounting for a market share of over 65% in terms of revenue in 2018.The EU regulations on energy-efficiency and noise guidelines are further generating demand for new robotic lawn mowers, which are highly energy efficient in the market.

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Market Segmentation by Geography

• APAC
• China
• Australia
• Japan
• South Korea
• North America
• US
• Canada
• Europe
• France
• Sweden
• Germany
• Italy
• Belgium
• Switzerland
• Netherlands
• Austria
• Spain
• UK
• Latin America
• Brazil
• Mexico
• MEA
• UAE
• Saudi Arabia
• South Africa

Major vendors in the global market:

• Honda Power Equipment
• Husqvarna
• Robert Bosch
• MTD Products
• ZCS
• STIGA

Other prominent vendors include AL-KO, Alfred Kärcher, Deere & Co., E.Zicom, Future Gen Robotics, Hangzhou Favor Robot Technology, Hitachi, iRobot, Linea Tielle, LG, MilagrowHumanTech, Mamibot, Ningbo NGP Industry, Positec Tool (WORX), Stihl,SUMEC (Yard Force), The Kobi Company, Turflynx, WIPER ECOROBT by NIKO, Yamabiko Europe (Belrobotics), Zhejiang Tianchen Intelligence & Technology, and ZIPPER MASCHINEN.

Explore our Garden Tools Market profile to know more about the industry.

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About Arizton:

Arizton – Advisory and Intelligence is a premium and innovation-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence