Residential Robotic Vacuum Cleaner Market Analysis | 2023-2029

Market Insights

The residential robotic vacuum cleaner market was estimated at USD 6.81 billion in 2022 and is likely to grow at a CAGR of 8.2% during 2023-2029 to reach 11.84 billion in 2029.

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Market Dynamics

Introduction

A residential robotic vacuum cleaner is an autonomous robotic device designed to clean floors and carpets in a residential setting. These devices use a combination of sensors, algorithms, and cleaning tools to navigate through a room, detect obstacles, and clean surfaces efficiently.

The robotic vacuum cleaner typically has a circular shape and is equipped with rotating brushes and suction motors. The device uses sensors to detect the edges of a room, and obstacles such as furniture or walls, and can even detect and avoid stairs. The vacuum cleaner is programmed to move in a random pattern or a specific path to ensure that it covers the entire room.

Residential robotic vacuum cleaners are becoming increasingly popular due to their convenience and efficiency. They allow homeowners to maintain a clean home without having to physically vacuum themselves. They are also able to reach areas that are difficult to clean with traditional vacuum cleaners, such as under furniture and in tight spaces.

Covid-19 Impact 

The COVID-19 pandemic has led to an increase in the adoption of vacuum cleaners, particularly robotic ones. This is because people are using them to disinfect various premises and reduce human exposure to the virus, which has become highly contagious. COVID-19 restrictions and guidelines have led to a surge in demand for cleaning workers and have also contributed to the increased use of robotic vacuum cleaners, which are ideal for thorough cleaning and disinfection.

Market Drivers

The demand for robotic vacuum cleaners remains strong due to the significant time and energy savings they provide, which is one of the primary factors driving adoption. Additionally, a shifting lifestyle, high disposable income, a growing population of working consumers, increasing purchasing power, and ease of use are all major factors contributing to the market's growth worldwide.

Consumers are increasingly attracted to robotic vacuum cleaners due to their ability to operate without any human intervention. Some of these robots are able to automatically recharge themselves by navigating to the charging point and resuming operations from the point of discharge. Additionally, virtual boundaries can be set for these robots to restrict entry into undesired areas, such as children's playrooms. These factors further increase the adoption of robotic vacuum cleaners, driving market growth.

The integration of advanced technologies such as voice assistance and artificial intelligence is driving the demand for robotic vacuum cleaners among targeted consumers. Additionally, the growing preference for more innovative and advanced technology integrated into these vacuum cleaners is expected to create key opportunities for the market.

However, the short battery life and long charging time required for robotic vacuum cleaners pose challenges in completing the cleaning process. Moreover, compared to traditional vacuum cleaners, robotic vacuum cleaners take more time for cleaning, which is expected to restrain market growth over the forecast period.

In addition, the maintenance of robotic vacuum cleaners can be costly due to the presence of sensors, which is expected to hinder market growth. The high cost of these products is also a major challenge, as it limits adoption among a wider user base. Furthermore, the market is hindered by the availability of various counterfeit products, which affects the overall quality of the robotic vacuum cleaner market.

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Key Players

The following are the key players in the residential robotic vacuum cleaner market:

• Bissell Inc
• Dyson Ltd
• ECOVAC
• iRobot Corporation
• Koninklijke Philips N.V
• LG Electronics
• Miele & CieKG
• Matsutek Enterprises CoLtd
• Neato Robotics
• Panasonic Corporation
• Proscenic
• Robert Bosch GmbH
• Samsung Corporation
• Sharp Corporation

Segment Analysis

Type Insights

"Floor vacuum cleaners dominated the market in 2022" 

In terms of revenue, floor vacuum cleaners dominated the market in 2022 and are expected to witness the fastest growth over the forecast period from 2022 to 2029. Consumers are increasingly inclined towards purchasing floor vacuum cleaners due to their ability to clean various surfaces, such as wooden floors, marble, vinyl, and tile flooring.

The dominance and high growth of this segment can also be attributed to its efficiency in removing even the smallest particles that may cause health issues, as well as its cost-efficiency. Furthermore, as most household cleaning routines focus on cleaning floors, the demand for floor vacuum cleaners is on the rise.

Application Insights

"Self-Drive segment dominated the market in terms of revenue and is expected to grow at the fastest CAGR over the forecast"

The Self-Drive segment dominated the market in terms of revenue and is expected to grow at the fastest CAGR over the forecast from 2023 to 2029. The rapid expansion of this segment can be attributed to the increasing demand of smart homes worldwide. 

Owing to the technological advancements along with the minimal human intervention, this segment is expected to have an increased adoption.
Moreover, the Self-Drive type offers small size, ability to access hard-to-reach areas  and higher automated features. Hence due to these factors, it is expected to generate more revenue.

Regional Analysis

"Asia Pacific dominated the market, and it is expected to witness the fastest CAGR" 

In 2022, Asia Pacific dominated the market for robotic vacuum cleaners, and it is expected to witness the fastest CAGR over the forecast period. The dominance of this region can be attributed to the low cost of the product, high purchasing power of consumers, and strong presence of key players in the region.

Additionally, the rising trend of buying products via e-commerce channels or internet retailing is driving the growth of the market in the region. Moreover, Asia Pacific is the largest hub for the manufacturing of electronic devices, which is propelling market growth.

The rapid urbanization of commercial and residential sectors in the region is also generating and increasing the demand for robotic vacuum cleaners. Hence, all of these factors are contributing to the dominance and fast growth of the Asia Pacific market for robotic vacuum cleaners.

North America is the second-largest market for robotic vacuum cleaners and is expected to grow at a significant rate during the forecast period. The growth is driven by the region's innovative product offerings and consumers' willingness to invest in value-added and innovative products that simplify their lives.Moreover, the increasing demand for robotic vacuum cleaners can be attributed to the technology that allows users to control the device using mobile phones or remotes, making it convenient and user-friendly.

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Recent Development

• In August 2022, Amazon and iRobot entered into a definitive merger agreement under which Amazon will acquire iRobot.
• In May 2022, British manufacturer Dyson announced the development of home robots and the creation of the UK's largest robotics research center. The research and technology company focuses on robots that carry out domestic tasks such as cleaning, hoovering, and tidying.

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s residential robotic vacuum cleaner market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The residential robotic vacuum cleaner market is segmented into the following categories:

By Type 

• Floor Vacuum Cleaner
• Window Vacuum Cleaner
• Pool Vacuum Cleaner

By Application Type 

• Self-Drive
• Remote Control

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com