Burgeoning Need to Combat the Increasing Labor Costs is Escalating the Demand for Residential Robotic Vacuum Cleaner Globally

The demand for Residential Robotic Vacuum Cleaner is witnessing an uptick on account of increasing labor and decreasing robot costs. The Residential Robotic Vacuum Cleaner market is expected to grow with a significant CAGR in the coming years. Robots, that can carry out tasks automatically, are gaining immense popularity over the years. There are many kinds of task robots. Cleaning robots are especially gaining popularity in the market. Robotic vacuum cleaners are gaining popularity in Europe, North America, and Asia. The number of companies manufacturing these robotic vacuum cleaners is also increasing and other companies are replacing their traditional vacuum cleaners for robotic ones. Over the years the robotic vacuum cleaner market has grown from US$ 0.81 billion in 2015 to 1.84 billion in 2018 according to Statista. With the advent of covid-19 pandemic the popularity of the robotic vacuum cleaners grew further as calling house helps became much more difficult at the time. Additionally, the cost efficiency of these robotic vacuum cleaners is also increasing their popularity in the market.

This increase in demand of residential vacuum cleaners due to the advancements in technologies, AI feature, voice assistance, and Wi-Fi connectivity. Companies are focusing on increasing features like the addition of UV sterilization during the pandemic to meet the changing customer demands. Additionally, the latest robotic cleaners are compatible with Alexa and the Google voice assistant. Other connectivity like with smart hoe technology and IoT devices are opening new paths for robot manufacturers. For example, in December 2018, Neato Robotics launched Neato Zone Cleaning for the Botvac D7 Connected and No-Go Lines feature for Botvac D3 Connected with these consumers can highlight the area they want to be cleaned and create a no-go zone, respectively. This increases flexibility of robotic cleaning.

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According to ‘UnivDatos Market Insights (UMI)’ research report “Residential Robotic Vacuum Cleaner Market Analysis, 2020”, the Residential Robotic Vacuum Cleaner market is projected to grow at a CAGR of XX% during 2021-27F. Increasing efficiency and decreasing costs of robotic vacuum cleaners is one of the prominent reasons which is driving the market of the Residential Robotic Vacuum Cleaner. For Instance: Over the past years the prices of the self-emptying vacuums were around US$ 1,000 but these prices have been coming down.?

Based on the Type, the market is fragmented into Cleaning Robots, Hybrid Robots, and Mopping Robots. Hybrid Robots segment accounted for the largest share in 2020 and is anticipated to register a lucrative CAGR during the forecast period. Hybrid robots contain both mopping and cleaning features. These days human lives have become very busy, especially for people living in the cities.?

Automatic Charging Segment to Witness Robust growth

Based on Type of Charging, the market is fragmented into Manual Charging and Automatic Charging. Automatic Charging segment had the highest revenue and CAGR growth in the analyzed period. The automatically charging cleaners automatically go and connect to the charging station when discharged. The usual charge life of a robotic vacuum cleaner in 2-3 hours.

Based on the Distribution Channel, the market is fragmented into Online and Offline. Online segment accounted for the largest share in 2020 and is anticipated to register a lucrative CAGR during the forecast period. The sales of robotic vacuum cleaners for residential has been growing over the years. The highest number of sales were in 2020 due to the corona virus pandemic when the awareness about hygiene increased drastically.

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Based on the Operation, the market is fragmented into Self-driven and Remote-controlled. Self-driven segment accounted for the largest share in 2020 and is anticipated to register a lucrative CAGR during the forecast period. Self-driven robot vacuums have lasers, sensors, and Wi-Fi to help them navigate throughout the house. They require no outside control or input at all which makes them the more popular option.?

Residential Segment to Witness Robust growth

Based on End-User, the market is fragmented into residential and commercial. Automatic Charging segment had the highest revenue and CAGR growth in the analyzed period. Robotic vacuum cleaners are still not that popular for commercial uses as they are small which means they take a long time to cover a large area. Due to this, vacuuming manually is much less time consuming and thus preferred in large commercial settings. On the other hand, resident is usually a smaller space and can easily be covered by the robotic vacuum in a sufficient amount of time.

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North America to Grab Lion’s Share, and witnessed Explicit Growth

Based on the Region, North America dominated the Residential Robotic Vacuum Cleaner market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the increasing labor cost. For example, in 2017, total revenue from robotic vacuum cleaners in North America was US$ 629 million, in 2020 this market grew to US$ 963 million. North America is expected to skyrocket with a CAGR of XX% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Residential Robotic Vacuum Cleaner Market Analysis, 2020”.??

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Residential Robotic Vacuum Cleaner Market are iRobot Corporation, Neato Robotics, Inc., Yujin Robot, Co., Ltd., Dyson Inc., Ecovacs Robotics, Inc., Hayward Industries, Inc., Philips Electronics N.V., Samsung Electronics Co., Ltd., Pentair plc., and Milagrow Business & Knowledge Solutions (Pvt.) Limited among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.

§?In July 2021, iRobot stocks increased about 24% year-over-year and 32% since bottoming at an annual low of $67.55 in September

§?In May 2021, Neato Launches latest robotic vacuum model Neato D8 priced at US$699.99

§?In May 2021, Dyson launched two new brands of vacuum cleaners equipped with dust-detecting laser technology as the company tries to expand sales here amid the pandemic-induced stay-at-home trend?

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“Residential Robotic Vacuum Cleaner Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Residential Robotic Vacuum Cleaner providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

Market Segmentation:

1.?????By Type (Cleaning Robots, Hybrid Robots, Mopping Robots)

2.?????By Type of Charging (Manual Charging, Automatic Charging)

3.?????By Distribution Channel (Online, Offline)

4.?????By Operation (Self-driven, Remote-controlled)

5.?????By End-User (Residential, Commercial)

6.?????By Region (North America, Europe, Asia-Pacific, Rest of the World)

7.?????By Company (iRobot Corporation, Neato Robotics, Inc., Yujin Robot, Co., Ltd., Dyson Inc., Ecovacs Robotics, Inc., Hayward Industries, Inc., Philips Electronics N.V., Samsung Electronics Co., Ltd., Pentair plc., Milagrow Business & Knowledge Solutions (Pvt.) Limited, etc.)

Key questions answered in the study:

1.?????What are the current and future trends of the Residential Robotic Vacuum Cleaner industry?

2.?????How the industry has been evolving in terms of end-user demand and application areas?

3.?????How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.?????What are the key growth drivers and challenges for the Residential Robotic Vacuum Cleaner industry?

5.?????What is the customer orientation, purchase behavior, and expectations from the Residential Robotic Vacuum Cleaner firms across various regions??