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Cleaning Robot Market Key Player Growth Analysis On Intellibot Robotics LLC, LG Electronics, Inc., Koninklijke Philips N.V., Samsung Electronics Co., Ltd., IBC Robotics, Ecovacs Robotics, Inc., Neato Robotics, Inc., iRobot Corporation, Cyberdyne, Inc., Al

Cleaning Robot Market Key Player Growth Analysis On Intellibot

North America cleaning robot market holds the largest share owing to the tendency to adopt advanced technologies and the developed economic conditions of the region. Growing urbane lifestyle of consumers and high disposable incomes are expected to propel the demand for these devices in household applications.

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Cleaning Robot Market size is anticipated to grow at a very fast rate owing to the latest technological advancements and innovations in the field of robotics such as small size and enhanced performance. Companies are manufacturing robots with visualization and sensing equipment to enable enhanced operations. Use of high speed, high precision, and small-sized servo & mechanical systems in robots have led to enhanced accuracy in operations and reduced sizes. This is a major factor projected to boost the cleaning robot market over the coming years. Incorporation of advanced technologies, such as artificial intelligence in robots, has eliminated the drawbacks of traditional robots. AI-infused robotics has enhanced the capabilities of robots to take real-time decisions.

Rising labor costs in developed economies including the U.S. and Germany are the key factors that fuel the cleaning robot market. Robots save time by performing multiple tasks simultaneously, reducing the time taken to perform a set of tasks. This is one of the major factors boosting the industry growth. These automation machines become a feasible choice than costly housekeeping services for people with disability. They also offer high work precision, which makes them popular for cleaning operations in industries and residential sector.

The high cost of these robots is a major factor that restrains the cleaning robot market growth over the forecast timespan. These devices are costly compared to the traditional robots owing to the advanced technologies incorporated into it. Small-scale industries that have budgetary constraints cannot afford these devices. Sophisticated servo systems, programmable logic devices, and human-machine interfaces used for the control of these robots add to the cost of the robot. Emerging economies including India and China cannot afford these robots and hence rely on human labor, thus restricting the industry growth in the region.

Battery life problems, low durability, and maintenance issues are also key factors hindering the cleaning robot market growth. Cleaning robots require high maintenance for optimized performance. Lack of skilled technicians in developing economies is projected to hamper the industry growth.
Technological advancements, such as artificial intelligence, AI swarm technology, and high-precision control systems are expected to provide growth opportunities for the cleaning robot market. Increasing demand for robots from the industrial sector is also anticipated to augment the industry growth. There is an increasing demand for cleaning robots in developed economies in Europe and North America. Rising need for small-sized compact robots is projected to boost the industry growth.

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The cleaning robot market is segmented into healthcare, residential, commercial, and industrial applications. The residential application segment is expected to grow significantly owing to the increasing demand for automated cleaning systems in developed economies. The compact size of this equipment makes them the right choice for residential applications. Efficient cleaning operation in confined spaces is an advantage offered by these robots, increasing their popularity in the residential sector.

Asia Pacific is anticipated to grow at a significant pace owing to the changing lifestyles of people and increasing awareness about the latest technological developments. Increase in the consumer disposable income in the region is a major factor driving the Asia Pacific cleaning robot market. The growth in the industrialization sector in Asia Pacific is expected to boost the demand for cleaning robots in industrial applications over the forecast timespan.

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Key players in the cleaning robot market include Intellibot Robotics LLC, LG Electronics, Inc., Koninklijke Philips N.V., Samsung Electronics Co., Ltd., IBC Robotics, Ecovacs Robotics, Inc., Neato Robotics, Inc., iRobot Corporation, Cyberdyne, Inc., Alfred Kärcher GmbH & Co., KG, Bobsweep, and Miele. Companies are investing in R&D to develop technologically-advanced solutions to provide enhanced services to customers. For instance, in November 2017, Ecovacs Robotics launched new models that autonomously mop and vacuum the floor in one go. Increasing competition among key players to introduce new robots is expected to fuel the industry growth.
Market share calculation in this report is not done based on companies covered in it. The calculation of Cleaning Robot Market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

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https://www.marketwatch.com/press-release/traffic-sensor-market-2018-2024-expected-developments-to-be-observed-worldwide-2018-09-20

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