SAN FRANCISCO, June 23, 2020
SAN FRANCISCO, June 23, 2020 /PRNewswire/ -- The global robotic vacuum cleaner market size is anticipated to reach USD 9.41 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 17.7% from 2020 to 2027. Increasing number of working women, growing purchasing power for innovative products, and ease of usage are major factors supporting the market growth. Growing trend of smart home is acting as a major supporting factor for market growth. Launch of new products is also supporting the market growth and are gaining traction among millennials and tech savvy consumers.
Key suggestions from the report:
Read 80 page research report with ToC on "Robotic Vacuum Cleaner Market Size, Share & Trends Analysis Report By Type (Floor, Pool), By Distribution Channel (Online, Offline), By Region (North America, Europe, APAC, Rest Of The World), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/robotic-vacuum-cleaner-market
Flexibility in usage of the robotic vacuum cleaners is estimated to drive the market over the forecast period. For instance, in December 2018, Neato Robotics announced the launch of Neato Zone Cleaning for the Botvac D7 Connected and No-Go Lines feature for Botvac D3 Connected. With the help of zone cleaning feature, consumers can highlight the portion or a dedicated area for active cleaning. Whereas, with the help of No-Go line, consumers can create no go zone. This innovation is offering flexibility to users for effective use of the product.
Growing trend of integration of devices with virtual assistance devices is creating opportunity for manufacturers in the market. Players are introducing this technology to gain a greater market share. For instance, in September 2019, iRobot updated the Amazon Alexa & IFTTT functionality in Wi-Fi enabled Roomba robots in India and other developing countries. Consumers can start, stop, and pause the help of voice activation command.
In terms of type, pool vacuum cleaner is estimated to expand at a CAGR of 16.0% from 2020 to 2027. Consumers are more inclined towards pool vacuum cleaner in order to remove rough debris with the brushing system, which also helps in removing bacteria and algae from pool surfaces, including floors and walls. As per Maytronics, there are around 25.5 million pools worldwide and around 19 million pools are cleaned without robots. This is creating significant growth opportunities for the market.
Offline distribution channel dominated the market with a revenue share of 67.3% in 2019. This is attributed to rising number of electronics and appliance specialty stores, resulting in increasing shelf space for marketing of products. Consumers are more inclined towards purchase of products from stores to find the right fit and understand the mechanism and functionality. Moreover, consumers can get the demo of the working pattern of the product. Sales representatives at the stores help consumers to find the right product as per the need.
Europe emerged as the second largest regional market in 2019. Countries such as Germany and U.K. are supporting the growth in the region. Consumers' willingness to spend on added value and innovative small electronic appliances simplifying life is the major factor fueling the regional market growth.
Grand View Research has segmented the global robotic vacuum cleaner market by type, distribution channel, and region:
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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