Press release
COVID-19 Impact On Robotic Vacuum Cleaners Market Segmentation By Type (Robotic Floor Vacuum Cleaner, Robotic Pool Vacuum Cleaner), By End-Users (Residential, Commercial) Analysis Report by TBRC
Robotic Vacuum Cleaners Market
The global robotic vacuum cleaners market is expected decline from $4.62 billion in 2019 to $4.50 billion in 2020 at a compound annual growth rate (CAGR) of -2.74%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $6.40 billion in 2023 at CAGR of 12.47%.
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The robotic vacuum cleaners market consists of sales of robotic vacuum cleaners and related services. It can clean floors, windows, pools and gardens efficiently without any human effort. Robotic vacuum cleaners or Robovac are home appliances, designed to clean our homes autonomously without human intervention. They are fully automated and artificial intelligence powered with various sensors and scheduling programs.
Rising investments for developing new technologies in robotic vacuum cleaners is contributing to the growth of the robotic vacuum cleaners market. The rising investments for innovations in hardware and software technologies, such as sensors and decision-making capabilities helps robotic vacuum cleaners in doing household tasks and also helps consumers to save time thereby attracting the customers to purchase robotic vacuum cleaners for household chores. For instance, in 2019, in the UK, the government invested Ł12 million ($16 million) for developing new technologies in robots that performs household tasks. It lead to partnership between Imperial College and Dyson, a robotic vacuum cleaner manufacturer for creating nextgen household products to complete household chores. Also, for instance, in 2020, in the USA, private companies such as Yidu Cloud, Tsinghua AI Fund and Matrix Partners invested $15 million in Trifo, into its AI-home robots vacuum in the hardware and software development for expanding in the U.S. and European markets. Rising investments and support from government thereby contributes to the growth of the market.
Robotic Vacuum Cleaners Market Segmentation: -
By Type
Robotic Floor Vacuum Cleaner
Robotic Pool Vacuum Cleaner
By End-Users
Residential
Commercial
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Few Points From Table Of Content
1. Executive Summary
2. Robotic Vacuum Cleaners Market Characteristics
3. Robotic Vacuum Cleaners Market Size And Growth
4. Robotic Vacuum Cleaners Market Segmentation
5. Robotic Vacuum Cleaners Market Regional And Country Analysis
......
25. Robotic Vacuum Cleaners Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Robotic Vacuum Cleaners Market
27. Robotic Vacuum Cleaners Market Trends And Strategies
28. Robotic Vacuum Cleaners Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Robotic Vacuum Cleaners Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Robotic Vacuum Cleaners Market are Dyson Ltd., ECOVACS Robotics Co. Ltd., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Sharp Corp., Neato Robotics, Miele & Cie. KG, iRobot Corporation
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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