Residential Robotic Vacuum Cleaner Market to Incur Value Growth at 9.2% CAGR During 2017-2021

Persistence Market Research has come up with a new report titled ‘Residential Robotic Vacuum Cleaner Market: Global Industry Analysis and Forecast 2017-2021’. This comprehensive report deals extensively with the global residential robotic vacuum cleaner market and puts forth with great clearly the market dynamics in the form of drivers, restraints and trends that are affecting the growth of this market. The forecasts for this market have been provided both in value terms and in terms of volume. As per the forecast provided, the global market for robotic vacuum cleaners was valued at US$ 1,741.3 Mn in 2017 and is anticipated to reach a valuation of US$ 2,475 Mn by 2021 end, reflecting a robust CAGR of 9.2% during the period of assessment from 2017-2021.

Global Residential Robotic Vacuum Cleaner Market: Market Dynamics

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As per the report, the major factor driving the growth of global residential robotic vacuum cleaner market is the busy and on-the-go lifestyle of people in the urban areas. Due to the pressing needs of time on the urban dwellers both professionally and socially, and especially with the ever increasing number of nuclear families, there is a lack of time among such urban dwellers. In order to overcome such challenges, where there is less time devoted to domestic chores, there is an increasing demand for robotic vacuum cleaners, also popularly known as robovacs, which save both the time and energy of consumers and they don’t have to spend time on such mundane tasks. Also, with the increase in the levels of education and opportunities, there is more preference given to technical jobs, thereby decreasing the number of people available for doing such domestic chores. This is also the reason of the rapidly growing demand for robotic vacuum cleaners.

Also, due to the ever increasing concerns for health and hygiene amongst the consumers, the residential robotic vacuum cleaner market is receiving a boost. As such robotic vacuum cleaners are able to absorb minute particles in the form of pollutants, and are also able to absorb the allergens that cause various types of respiratory diseases, their demand is increasing day by day. Also, with the concept of smart cities gathering lots of traction, smart buildings are becoming popular that have standalone systems working in the form of consumer electronics, appliances and other environmental control systems. Growth in the smart cities, where robotic vacuum clears that are Wi-Fi enabled and can be operated with the help of a smartphone are gaining in popularity.

Global Residential Robotic Vacuum Cleaner Market: Segmentation and Forecast

The global residential robotic vacuum cleaner market is classified on the basis of robot type, mode of charging and region. On the basis of robot type, the market is sub-segmented into outdoor robot and in-house robot. In-house robots are further segregated into high-end, mid-range and low-end.

On the basis of robot type, the in-house robot segment dominated the market and this segment was valued at US$ 1,392.6 Mn in 2017 end. The outdoor robot segment was valued at US$ 348.7 Mn in 2017 end.
On the basis of region, Europe residential robotic vacuum cleaner market dominated the market. The Europe residential robotic vacuum cleaner market is estimated to be valued to at US$ 1,085 Mn by 2021 end.
The high-end in-house robotic vacuum cleaner market was valued at US$ 667.2 Mn in the year 2017.

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Global Residential Robotic Vacuum Cleaner Market: Competition Landscape

The report on global residential robotic vacuum cleaner market profiles some of the important players that are functioning in this market. Some of the key players profiled in this report include iRobot Corporation, Neato Robotics, Inc., Yujin Robot, Co., Ltd., Dyson Inc., Ecovacs Robotics, Inc., Philips Electronics N.V., Samsung Electronics Co., Ltd. and Milagrow Business & Knowledge Solutions (Pvt.) Limited.

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