New York City, New York, Jan 20, 2016: Persistence Market Research (PMR) has announced the release of a market study based on the Global Residential Robotic Vacuum Cleaner Market. According to this report, titled “Global Market Study on Residential Robotic Vacuum Cleaner: Europe to Be the Most Lucrative Region throughout the Forecast Period”, the residential robotic vacuum cleaner market is estimated to be valued at US$ 1,255.0 Mn by the end of 2015 and is anticipated to expand at a CAGR of 12.0% from 2015 to 2021 in terms of value, to account for US$ 2,475.0 Mn by 2021.
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The global market for residential robotic vacuum cleaners was valued at US$1,255.0 mn at the end of 2015. This market is expected to tread a positive growth path in the coming years. In emerging economies, rising disposable income has been a significant factor for the adoption of newer means for household management. Consumer sentiment for automated cleaning solutions and newer cleaning products is upbeat to favor the progression of the market.
Product innovation, substantial expenditure on R&D, and an increasing number of market players are some of the trends that have come to the fore in the global residential robot vacuum cleaner market. These are collectively favoring the development of this market. Owing to this, the market will exhibit a CAGR of 12.0% from 2015 to 2021 to be worth US$2,475.0 mn by the end of 2021. The market for residential robotic vacuum cleaner will display volume growth at a CAGR of 16.5% for the 2015-2021 period with a production of 4,783.0 thousand units by 2021 increasing from 1,913.5 thousand units by 2015.
Robotic vacuum cleaners or robovacs, as they are commonly known, are largely used for cleaning of residential spaces such as pools, floors, and gutters. With respect to equipment make-up, they consist a mobile base, programming software, cleaning system, batteries, and other accessories. The functional capabilities of the system are phenomenal thanks to technologically advanced components that are embedded herein. Intelligent sensors help to clean tight corners and surfaces that are hard-to-reach. Other than this, laser vision, self-charging, room mapping, and some other features add value to the usability of these cleaners.
In-house Robotic Cleaners Display Clear Dominance by both Volume and Value
The global market for residential robotic vacuum cleaners is divided on the basis of mode of charging, robot type, and region. By robot type, in-house robot and outdoor robot are the segments of the market. Of the two, it is the in-house robot segment that is expected to hold 83.3% of the overall market for residential robotic vacuum cleaners by the end of 2015. The volume production of in-house robots stood at 1,309.1 thousand units in 2014.
By mode of charging, auto battery charging and manual charging are the segments of the residential robotic vacuum cleaner market. The market valuation of the segment of auto battery charging will be US$1,775.6 mn by 2021, whereas the manual charging segment will expand at a CAGR of 12.0% from 2015 to 2021.
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The market for residential robotic vacuum cleaners is divided into the regional segments of North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Amongst these, Europe will be the dominant region accounting for 44.6% of the overall market by the end of 2015. However, the Middle East and Africa segment will exhibit the highest CAGR until 2021.
Some of the top players that operate in the global residential robotic vacuum cleaner market are Robot Corporation, Yujin Robot Co. Ltd., Ecovacs Robotics Inc., Philips Electronics N.V., Pentair plc., Neato Robotics Inc., Dyson Inc., Hayward Industries Inc., and Milagrow Business & Knowledge Solutions Pvt. Limited.
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