The global residential robotic vacuum cleaner market is expected to bolster throughout the estimation period from 2022 to 2032 with an impressive CAGR of 14.6%. The global market is anticipated to hold revenue of US$ 4034.5 Million in 2022 and cross a valuation of US$ 15,709 Million by 2032.
As per the historic forecast ranging from 2017 to 2021, the global residential robotic vacuum cleaner market is expected to register a robust CAGR of 10.6% between 2017 and 2021, valued at 3551 million in 2021.
As per the FMI’s study on the residential robotic vacuum cleaner market, it has been shown that the demand for robotic vacuum cleaners has significantly risen due to the emergence of advanced technology and efficient cleaning.
The robotic vacuum is also known as Robovacs, which comprises intelligent sensors and various other advanced features in order to ensure a clean and tidy household. Attributing to the growing urban households has increased the sales of residential robotic vacuum cleaners.
The Covid-19 pandemic has fueled the demand for residential robotic vacuum cleaners due to people being restricted to their houses and working from home. The end users have also become more aware of the importance of hygiene and cleanliness due to surging covid-19 cases. Because of the pandemic, people are now more concerned about their lung health since several covid patients have undergone severe conditions post-infection, fueling the demand for residential robotic vacuum cleaners.
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Key Takeaways
- Owing to the rising awareness about hygiene post-Covid-19 outbreak combined with rising pollution levels and higher density of dust particles in the air has fueled the sales of the residential robotic vacuum cleaner.
- According to various research, it is predicted that the future of the residential robotic vacuum cleaner market looks fruitful. This is possible because of the emergence of the latest sensor technology combined with the automation of indoor services. These factors are expected to surge growth in the market in the future.
- Growing urban settlements paired with sluggish lifestyles have led people across urban areas to adopt residential robotic vacuum cleaners. In addition to that, high-tech features and robotics under the industries 4.0 go well with the need for convenient lifestyle shifts and are gaining traction in the market, fueling the sales of residential robotic vacuum cleaners.
- The demand for better air quality is yet another reason responsible to push sales in the market. Global health concerns such as air pollution are taken into consideration by people in the higher or upper-middle-class strata. In order to prevent these diseases, new experiments and innovative research has been done. Residential robotic vacuum cleaners are one such example.
- The rising prevalence of the quality of indoor air has been given recently due to improving lifestyles in developing regions, busier daily schedules, and lack of time for household chores are identified to be the key factors that will continue to create the demand for residential robotic vacuum cleaners. Furthermore, surging disposable incomes in dual-income houses are immensely contributing to the sales of vacuum cleaners across the globe.
Competitive Landscape
Prominent market players are focusing on innovating their products. Due to the higher competition in the market, new start-ups are drastically opting for problem-solving skills with the help of artificial intelligence platforms while simultaneously enhancing the performance of these cleaners through Nanotechnology.
- LG has launched its new CordZero ThinQ Robotic Vacuum Cleaner that has built-in intelligence analyzers that remembers the details of your space for more efficient and effective cleaning.
- Robert Basch GmbH has introduced its highly efficient robotic vacuum cleaner, Roxxter which travels in meanders and is fully autonomous. This makes it the smart robot vacuum amongst other key players.
More Insights into the Residential Robotic Vacuum Cleaner Market
The European market is predicted to hold the maximum market share owing to the higher income levels in European countries combined with changing climate and rising pollution levels in Europe.
The Asia Pacific region is anticipated to create lucrative opportunities for the global residential robotic vacuum cleaner market attributed to the hike in pollution levels in these countries. Over the past few years, countries like India and Japan have witnessed rising cases of lung diseases such as asthma and other allergies due to the increased number of dust particles in the air are fueling the sales of residential robotic vacuum cleaners in the region.
Indian market is also set to exhibit phenomenal growth in the global residential robotic vacuum cleaner market landscape with the highest CAGR of 20.8% between 2022 and 2032 while Japan thrives at a significant CAGR of 11.2%.