The robotic vacuum cleaners market is experiencing rapid growth, expected to increase from $7.97 billion in 2023 to $9.53 billion in 2024, with a CAGR of 19.6%. This growth is fueled by evolving consumer lifestyles and smart home integrations. By 2028, the market is projected to reach $17.02 billion, at a CAGR of 15.6%, supported by innovations in cleaning technology and eco-friendly features.
Major Driver In The Robotic Vacuum Cleaners Market
The growth trajectory of the robotic vacuum cleaners market is propelled by increased investments in technological advancements. Specifically, investments in hardware and software technologies, including sensors and decision-making capabilities, enhance the efficiency of robotic vacuum cleaners in performing household tasks. The resulting time-saving benefits attract consumers, contributing to the market's expansion. In January 2023, LionsBot International Pte Ltd secured a $7 million investment from TransLink Capital for developing cleaning robots for commercial applications. The support from venture capital firms and governments further fosters growth. As of 2023, the robotic vacuum cleaners market is shaped by ongoing investments and innovations, with a continued impact expected in 2024 and 2028.
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Robotic Vacuum Cleaners Market Competitive Landscape
Samsung Electronics Co. Ltd., Metapo Inc., Robert Bosch GmbH, LG Electronics Inc., Panasonic Corporation, Haier Electronics Group Co. Ltd., Sharp Corporation, Koninklijke Philips N.V., AB Electrolux, Groupe SEB Deutschland GmbH, Dyson Ltd., Miele & Cie. KG, Pentair plc, Vorwerk & Co. KG, SharkNinja Operating LLC, Karcher Cleaning Systems Pvt. Ltd., Maytronics Ltd., ECOVACS Robotics Co. Ltd., Hayward Industries Inc., iRobot Corporation, Bissell Inc., Taurus Group BV, Yujin Robots Co. Ltd., Neato Robotics Inc., ILIFE Robotics Technology Co. Ltd., bObsweep Inc., Kevac SRL, Cecotec Innovaciones S.L., Mamibot Manufacturing USA Inc., Matsutek Enterprises Co. Ltd.
Key Robotic Vacuum Cleaners Market Trend
Companies are launching new products to increase their revenue and also for gaining a competitive edge over their rivals. For instance, in 2021, in the USA, iRobot Corporation, a leading advanced robotic vacuum technology company, launched Roomba j7+ Robot Vacuum to give customers more control over their cleaning with 3.0 home intelligence.
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Robotic Vacuum Cleaners Market Segmentation
The robotic vacuum cleaners market covered in this report is segmented –
1) By Type: Robotic Floor Vacuum Cleaner , Robotic Pool Vacuum Cleaner
2) By Type Of Charging: Automatic Charging, Manual Charging
3) By End-Users: Residential, Commercial
By Geography:The regions covered in the robotic vacuum cleaners market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the robotic vacuum cleaners market in 2023.
The Robotic Vacuum Cleaners Global Market Report 2024 furnishes information about the global robotic vacuum cleaners market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
