Global Robotic Vacuum Cleaner market to double by 2024

According to the research the global robotic vacuum cleaner market size was US$ 3.9 Billion in 2018 which is expected to reach US$ 7.5 Billion by 2024.

On account of changing lifestyles globally, long working hours and the increasing number of working women, a rise in the demand for robotic vacuum cleaner has been witnessed, especially in the residential sector. This can also be accredited to the inflating income levels and a consequent increase in the purchasing power of consumers.

According to the latest report by IMARC Group, titled "Robotic Vacuum Cleaner Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global robotic vacuum cleaner market size reached US$ 3.9 Billion in 2018. A robotic vacuum cleaner, also known as robovac, refers to an advanced vacuum cleaning device which is furnished with intelligent software to clean tiles, carpets and hardwood floors with minimal or no human intervention. It employs cameras and sensors that assist in cleaning corners and averting it from colliding with other objects or falling from a height. In comparison with conventional vacuum cleaners, robotic vacuum cleaners are compact, produce less noise and complete chores in relatively lesser time. As a result, their demand is increasing in both the commercial and residential sectors across the globe.

The rising awareness among consumers about health, hygiene and cleanliness is boosting the overall sales of these cleaners around the world. Further, with the burgeoning preference for smart as well as innovative electrical appliances, manufacturers are financing research and development activities to introduce technologically advanced cleaners. They are also launching user-friendly and affordable variants to expand their businesses, particularly in developing economies. Looking forward, the market is projected to reach a value of US$ 7.5 Billion by 2024, at a CAGR of around 11.4% during 2019-2024.

Based on the type, the market has been bifurcated into the robotic floor and robotic pool vacuum cleaners. At present, the robotic floor vacuum cleaner dominates the market, holding the largest share. On the basis of the type of charging, the market has been classified into manual and automatic charging. At present, manual charging accounts for the majority of the total market share. Based on the distribution channel, institutional/direct sales exhibit a clear dominance in the market, followed by retail sales. The market has been segmented on the basis of the application into vacuum cleaning only, and vacuum cleaning and mopping. Currently, vacuum-cleaning the only segment accounts for the majority of the global market share. On the basis of the end-user, the market has been segregated into residential and commercial sectors. Presently, the commercial sector represents the largest end-user. Region-wise, the market has been divided into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Amongst these, Europe is the leading market, holding the majority of the share.

The competitive landscape of the market has also been examined with some of the key players being iRobot Corporation, ECOVACS ROBOTICS, Neato Robotics, Dyson Ltd., Samsung Electronics Co. Ltd., Maytronics Ltd., Metapo, Inc., Koninklijke Philips N.V., LG Electronics Inc., Panasonic Corporation, Miele & Cie. KG, Hayward Industries, Inc., Haier Electronics Group Co Ltd., Sharp Corporation, ILIFE Robotics Technology, Vorwerk & Co. KG, Taurus Group, Groupe SEB Deutschland GmbH, Pentair plc and bObsweep Inc.

(With inputs from Shane Smith, IMARC)