"Cleaning robot market is expected to grow at a CAGR of 16.21% between 2018 and 2023"
The cleaning robot market is expected to grow from USD 2.09 billion in 2018 to USD 4.34 billion by 2023, at a CAGR of 16.21% between 2018 and 2023. The growth of this market is mainly driven by factors such as penetration of automation in household appliances, rise in labor cost, and increasing safety concern. Cleaning robot is ideal for residential, commercial, industrial, and healthcare applications requiring automated cleaning. In the residential and commercial applications, cleaning robot is used for cleaning floors, lawns, pools, and windows. However, the high cost of cleaning robots poses a restraint for the growth of the market.
"Residential application is expected to hold a significant share of the cleaning robot market by 2023"
The residential sector accounts for a share of more than 90% of the cleaning robot market. Various benefits provided by the cleaning robot have led to the increased adoption of cleaning robots for the residential application. Cleaning robots in the residential application are utilized to perform tasks such as mopping and cleaning. In certain countries, employing domestic workers becomes too expensive. In such cases, cleaning robots can easily undertake the task of cleaning.
"Market in APAC is likely to grow at the highest CAGR during the forecast period"
The cleaning robot market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is the fastest-growing market for cleaning robots. Rise in disposable income among consumers in APAC has led to the adoption of cleaning robots. The increasing adoption of cleaning robots and the influx of global players, along with the emergence of native players, are helping the market to grow. As a result, APAC holds a significant share of the overall cleaning robot market.
Breakdown of the profiles of primary participants:
- By Company: Tier 1 = 45 %, Tier 2 = 35%, and Tier 3 = 20%
- By Designation: C-Level Executives = 50%, Manager Level = 30%, and Others = 20%
- By Region: North America = 43%, Europe = 29%, APAC = 21%, and RoW = 7%
The major players profiled in this report are as follows:
- iRobot (US)
- Neato Robotics (US)
- LG Electronics (South Korea)
- Samsung Electronics (South Korea)
- Ecovacs Robotics (China)
- Dyson (UK)
- Intellibot Robotics (US)
- Alfred Karcher (Germany)
- ILIFE (China)
- bObsweep (Canada)
- Bissell Homecare (US)
- Miele (Germany)
- Cyberdyne (Japan)
- Vorwerk (Germany)
- Monoprice (US)
In this report, the cleaning robot market has been segmented on the basis of type, product, application, and geography. The market has been segmented, on the basis of type, into personal cleaning robot and professional cleaning robot. The cleaning robot market has been segmented, on the basis of product, into floor-cleaning robot, lawn-cleaning robot, pool-cleaning robot, window-cleaning robot, and others. The market has been segmented, on the basis of application, into residential, commercial, industrial, healthcare, and others. The study also forecasts the market size in four main regions-North America, Europe, APAC, and RoW.
Reasons to Buy the Report:
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the cleaning robot market comprehensively and provides the closest approximation of the overall market size and those of the subsegments across different types, products, applications, and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities for the growth of the market.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, and mergers and acquisitions carried out in the market.