DUBAI, United Arab Emirates, March 30, 2022 (GLOBE NEWSWIRE) -- According to a recent study by Future Market Insights (FMI), Robotic Vacuum Cleaners Market is expected to surpass a valuation of US$ 3.5 Bn in 2021. It is also expected to exhibit a CAGR of over 14.5% through 2031.
| Data Points | Market Insights | |
| Robotic Vacuum Cleaners Market Value (2021) | US$ 3.5 Bn | |
| Robotic Vacuum Cleaners Market Estimated Year Value (2031) | US$ 13.78 Bn | |
| CAGR 2021-2031 | 14.5% | |
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In the last few years, vacuum cleaner technology has advanced significantly. Because of their ability to clean an area without requiring human participation, robotic vacuum cleaners sales are surging at a high pace.
Additional features of robotic vacuum cleaners include rotating brushes, mopping, and UV sterilization. Some are designed to efficiently perform cleaning chores of household. To offer greater efficiency and high performance, manufacturers are integrating robotic vacuum cleaners with security cameras, intercom systems, and other functions.
Robotic vacuum cleaners are a result of technological advancements enabled by artificial intelligence (AI) and the internet of things (IoT). They can be programmed and operated remotely to execute their cleaning tasks and they are clever enough to do it with minimal human intervention. With their advanced technologies, robots are playing an increasingly essential role in modern society, making human life easier and more comfortable.
Market players are concentrating on producing more technologically advanced robotic vacuum cleaners using cutting-edge technology such as artificial intelligence (AI) (Artificial intelligence). Samsung Electronics, for example, released an AI robot vacuum cleaner in 2021 that has improved object identification and operation performance due to artificial intelligence (AI) technology.
The BESPOKE Jetbot AI is a smart robot vacuum cleaner designed to clean itself and empty its dust bin. It is the world's first robot cleaner to be equipped with Intel's artificial intelligence (AI) solution (Intel Movidius), which enables the robot cleaner to reason independently like humans.
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa |
| Key Countries Covered | US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, Indonesia, Malaysia, Thailand, Australia, New Zealand, GCC Countries, North Africa and South Africa |
| Key Segments Covered | Product Type, Charger Type, Feature, End User, Sales Channel and Region. |
| Key Companies Profiled | • Koninklijke Philips N. V • LG Electronics • Robert Bosch GmbH • Samsung Corporation • Dyson Ltd. • iRobot Corporation • Panasonic Corporation • Xiaomi • ECOVACS • Proscenic • Neato Robotics, Inc. • Yujin Robot, Co., Ltd. • Hayward Industries, Inc. • Pentair plc • Milagrow Business & Knowledge Solutions (Pvt.) Limited. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Key Takeaways from the Robotic Vacuum Cleaners Market Study
- In terms of robot type, the in-house robot segment is projected to account for 75.9% of the total robotic vacuum cleaners market share in 2021.
- In terms of mode of charging, auto battery charging type accounts for 70.9% of the total robotic vacuum cleaners market share in 2021.
- The US is a key market in North America, accounting for 91.5% of robotic vacuum cleaners sales in the region in 2021.
- The U.K. will emerge as a highly lucrative market within Europe, exhibiting 7.5% CAGR.
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Impact of COVID-19 on the Market
The COVID-19 outbreak had a wide-ranging impact, including the closure of all non-essential businesses and retailers, leading to a loss of corporate confidence, heightened public worry, and future uncertainty. It has spread indiscriminately over the world, resulting in a hazardous indoor atmosphere. The production rate of these vacuum cleaners had fallen dramatically all over the world as a result of the sudden shutdown of manufacturing factories. Restrictions imposed hampered sales as well as international export and import.
Furthermore, the COVID-19 created new opportunities for robotic vacuum cleaner manufacturers. Due to the need for cleanliness and hygiene in homes and business spaces, industry players saw higher sales of robot vacuums beginning at the second quarter of 2020. Consumers bought robotic vacuum cleaners to keep the virus from spreading in their homes.
Additionally, according to International Federation of Robotics sales value for robots has increased by 32% to USD 11.2 billion and the recent Covid-19 pandemic is further expected to boost the market.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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