Household Robots Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The Household Robots market is valued at USD 10.3 billion in 2023 and is anticipated to be USD 24.5 billion by 2028, growing at a CAGR of 18.8% from 2023 to 2028. The growth can be attributed to a significant increase in demand for autonomous robots. The household robots' market, based on type, is divided into domestic robots and entertainment and leisure robots. By type domestic robots hold a larger market share and are expected to retain their position during the forecast period. These robots are typically aimed at making domestic chores more convenient and efficient. For example robot vacuum cleaners are among the most popular domestic robots. They autonomously clean floors using sensors and navigation systems to move around obstacles and perform tasks such as vacuuming carpets and mopping hard floors.

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The household robots market based on offering is divided into products and services. The products segment holds a larger market share and a higher CAGR and is expected to retain its position during the forecast period. The growing popularity of smart homes is one of the key reasons behind the growth of this market. Products such as robotic vacuum cleaners are also witnessing a rise in adoption, which, coupled with changing lifestyles and busy schedules, have led consumers to look for convenient cleaning and mopping methods. The pandemic has further forced to curb human contact and follow social distancing norms while also undertaking cleaning processes on the premises. These initiatives will play a key role in driving the adoption of household robots.

In terms of value, the vacuuming application held the largest share of the overall household robots market in 2022. Vacuum cleaning is a regular household chore that can be time-consuming. Robot vacuum cleaners offer a hands-free solution. They autonomously navigate rooms, cleaning floors without direct human intervention. This convenience appeals to busy individuals seeking to automate household tasks. The success of vacuum cleaning robots has paved the way for the broader household robots market. Their acceptance and popularity have influenced the development and adoption of other types of household robots, expanding the range of automated solutions available for various domestic tasks.

The Asia Pacific region held the largest share of the household robots market in 2022, by value. Continuous advancements in robotics technology have led to more capable, efficient, and affordable household robots. These innovations make robots more accessible to consumers and increase their adoption rate. The pandemic has amplified the demand for household robots. With an increased focus on hygiene and minimizing contact, robots have been sought after for tasks that reduce human interaction, such as cleaning and disinfecting.

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Major companies in the household robots market include iRobot Corporation (US), Ecovacs Robotics Co., Ltd. (China), Xiaomi Corporation (China), Maytronics, Ltd (Israel), Samsung Electronics Co., Ltd. (South Korea), Neato Robotics Inc. (US), Dyson Limited (Singapore), LG Electronics Inc. (South Korea), LEGO A/S (Denmark), Hayward Holdings, Inc. (US).

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This release was published on openPR.