Residential Robotic Vacuum Cleaner Market Size to Reach US$ 14.7 Billion by 2031 - TMR Study

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Nov 16, 2022, 07:30 ET

Massive demand for portable and lightweight robotic vacuum cleaners for in-house applications creates lucrative growth opportunities; manufacturers lean on capturing value by offering multi-purpose vacuum cleaners
Integration of smart functionalities and autonomous systems unlocking new revenue streams in residential robotic vacuum cleaner market; Asia Pacific and North America lucrative regions

WILMINGTON, Del., Nov. 16, 2022 /PRNewswire/ -- Residential users have emerged as remarkably lucrative target market for robotic vacuum cleaners. Manufacturers are geared toward development and commercialization of smart products that are integrated with autonomous technologies in order to boost robotic vacuum cleaner market share. The residential robotic vacuum cleaner market is projected to expand at a CAGR of 8.2% during the forecast period of 2022 – 2031.

A recent sales analysis of residential robotic vacuum cleaner market found a wide product range of products available for users to enable them to automate myriad household tasks. As a result, demand for products in residential robotic vacuum cleaner market is propelled by adoption of portable and lightweight equipment in in-house cleaning applications.

Furthermore, growing affluence of consumers in developing countries is catalyzing the demand for autonomous home systems. Overall, the battery-powered smart residential robotic vacuum cleaners are expected to gather steady adoption, thereby likely to generate sizable revenues for market players to capitalize into. Integration of voice assistants and software has eased cleaning management programs, thus boosting demand for residential robotic vacuum cleaner market.

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Key Findings of Residential Robotic Vacuum Cleaner Market Study

Demand for Autonomous and Smart Robotic Vacuum Cleaners Presents Value-Grab Opportunities: Demand for autonomous vacuum cleaners is driving the prospects of robotic systems with autonomous features that ensure minimal human interventions. Smart robotic vacuum cleaners are gathering traction in residential robotic vacuum cleaner market. Cleaning robots equipped with state-of-the-art sensors have gained popularity among consumers. Vacuum cleaners with smart navigation features have gained adoption in in-house cleaning applications. Integration of automatic driving systems has increased the consumer convenience.
Rising Adoption of Robotic Vacuum Cleaners for In-House Applications: In-house cleaning products find vast massive market prospects globally. The TMR study found that the segment is projected to account for a leading share of the residential robotic vacuum cleaner market during 2022 – 2031. Battery-powered robotic vacuum cleaners are gaining popularity for in-house cleaning applications, creating abundant growth opportunities.

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Residential Robotic Vacuum Cleaner Market: Regional Growth Dynamics

North America held a major share of the global market in 2021. Rapid adoption of autonomous home systems among consumers in the region and continuous technological advancements such as artificial intelligence (AI), internet of things (IoT), and cutting-edge sensors have created sizable revenues.
Asia Pacific is a potentially lucrative region. The growth of the regional market is propelled majorly by constantly expanding target customers. Market players are expected to tap into the massive demand in urban areas across the region.

Residential Robotic Vacuum Cleaner Market: Key Drivers

Rise in numbers of urban consumers globally is a key driver of the market. Technological advancements have expanded the slew of autonomous features for the consumers, thus underpinning the market prospects.
Changing lifestyle has spurred consumers to adopt autonomous house cleaning products, thus expanding the avenue of commercialization of various products in the market.
Growing investment projects under smart city mission is expanding the horizon for players in the market.

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Key Players

The competition landscape is characterized by high degree of consolidation. Some of the key market players are Samsung Electronics Co., Ltd., Robert Bosch GmbH, Koninklijke Philips N.V. Neato Robotics, Inc., Miele & Cie. KG. Miele & Cie. KG., LG Electronics Inc., ILIFE Innovation Ltd. Haier Group Corporation, Electrolux AB, Dyson Inc., Black+Decker Inc., and Bissell Inc.

Residential Robotic Vacuum Cleaner Market Segmentation

Type

In-house Robot
Outdoor Robot

Charging Type

Manual Charging
Battery Charging

Operation Mode

Self-mode
Remote Control

Distribution Channel

Online
Offline

Regions Covered

North America
Europe
Asia Pacific
Middle East & Africa
South America

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