USD 13.29 billion Growth in Cleaning Robot Market | 45% of the growth will originate from APAC | Technavio
NEW YORK, July 5, 2022 /PRNewswire/ -- The latest market analysis report titled Cleaning Robot Market by Type and Geography - Forecast and Analysis 2022-2026 has been recently added to Technavio's catalog. The report predicts the market potential growth difference of USD 13.29 billion from 2021 to 2026. The analysts at Technavio claim the report records a decelerating growth momentum at a CAGR of 21.85%. Technavio categorizes the cleaning robot market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cleaning robot market during the forecast period. The changing lifestyles and a tech-savvy population are some of the key drivers supporting the cleaning robot market growth. In addition, advances in sensors, software, and end-of-arm-tooling (EOAT) is another factor supporting the cleaning robot market growth. However, the high cost of cleaning robots might hinder the cleaning robot market growth.
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Competitive Landscape
- The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. The vendors are deploying organic and inorganic growth strategies to compete in the market.
- Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- The competitive scenario provided in the cleaning robot report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
Top Market Players with their Key Offerings:
- Beijing Roborock Technology Co. Ltd.: The company offers cleaning robots under the brand names Max and Pure.
- Cecotec Innovaciones S.L.: The company offers cleaning robots under the brand name Conga.
- Ecovacs Robotics Inc.: The company offers cleaning robots under the brand name Deebot.
- Irobot Corp.: The company offers cleaning robots under the brand name Roomba.
- LG Electronics Inc.: The company offers cleaning robots under the brand name MK Lite.
- Neato Robotics Inc.
- Panasonic Corp.
- Samsung Electronics Co. Ltd.
- SharkNinja Operating LLC
- Xiaomi Corp.
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Cleaning Robot Market Segmentation Highlights
- Type
- Personal Cleaning Robot: The personal cleaning robot type segment held the largest cleaning robot market share in 2021. The segment will continue to account for the highest revenue throughout the forecast period. The growth of this segment will be attributed to the growing trend of online retailing in the residential sector. This sector holds significant growth potential for it as vendors have penetrated only one-tenth of the total addressable market. This has led to the increased entry of many new players into the market, including those specializing in consumer electronics products.
- Professional Cleaning Robot
- Geography
- APAC: 45% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the cleaning robot market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The high awareness about robotic solutions and an increase in the aging population will propel the cleaning robot market growth in APAC over the forecast period.
- North America
- Europe
- MEA
- South America
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Cleaning Robot Market Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The cleaning robot market report covers the following areas:
Cleaning Robot Market FAQs
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist cleaning robot market growth during the next five years
- Estimation of the cleaning robot market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the cleaning robot market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the cleaning robot market, vendors
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Cleaning Robot Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Decelerate at a CAGR of 21.85% |
Market growth 2022-2026 | $ 13.29 billion |
Market structure | Fragmented |
YoY growth (%) | 24.12 |
Regional analysis | APAC, North America, Europe, MEA, and South America |
Performing market contribution | APAC at 45% |
Key consumer countries | US, China, Japan, Germany, and UK |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Beijing Roborock Technology Co. Ltd., Cecotec Innovaciones S.L., Ecovacs Robotics Inc., Irobot Corp., LG Electronics Inc., Neato Robotics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., SharkNinja Operating LLC, and Xiaomi Corp. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2021
- Market outlook: Forecast for 2021 - 2026
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Personal cleaning robot - Market size and forecast 2021-2026
- Professional cleaning robot - Market size and forecast 2021-2026
- Market opportunity by Type
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2021-2026
- North America - Market size and forecast 2021-2026
- Europe - Market size and forecast 2021-2026
- MEA - Market size and forecast 2021-2026
- South America - Market size and forecast 2021-2026
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Beijing Roborock Technology Co. Ltd.
- Cecotec Innovaciones S.L.
- Ecovacs Robotics Inc.
- Irobot Corp.
- LG Electronics Inc.
- Neato Robotics Inc.
- Panasonic Corp.
- Samsung Electronics Co. Ltd.
- SharkNinja Operating LLC
- Xiaomi Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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
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