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(Hosting-NewsWire.com, March 24, 2020 ) Market Overview
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Cleaning robots are autonomous robots loaded with advanced features to perform self-drive mode and cleaning automatically. Global Cleaning Robot market is accounted for a market value of USD xx billion in 2018 and is expected to grow at a CAGR of around 20 % in the forecast period (2019-2026).
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The growth in the industry is mainly due to increasing new developments in robotics technology along with rising disposable incomes and demand for automation in various applications.
Rising technological improvements in vacuum cleaners; highly advanced, small-sized, and efficient cleaning appliances are being developed that can easily fit into limited spaces compared to traditional robots, will further drive the market growth in the coming years.
However, the high cost associated with the cleaning robots is acting as a restraining factor in the market. Cleaning robot is expensive than the traditional vacuum cleaner, which makes it less affordable to all segments of people.
Market Segmentation Analysis
By product type, into floor cleaning, pool cleaning, window cleaning, lawn cleaning, and others.
The floor cleaning robot segment accounted for the largest share of XX% of the market in 2017 for the residential application due to the high penetration of automation in household appliances. Pool-cleaning robots segment is expected to grow at the highest CAGR during the forecast period to 2026, as manual cleaning of pools requires a lot of effort and time.
Hence, the introduction of the pool-cleaning robot has simplified the process of cleaning with advanced, efficient, and cost-effective version of the traditional pool-cleaning equipment.
By Application, the market is segmented into Residential, Industrial, and Commercial. The residential segment is leading the global cleaning robot market in 2017 and accounted for largest share of about XX% due to its high penetration in home applications.
Cleaning robots in the residential application are used to perform tasks such as mopping and cleaning. Employing domestic workers is too expensive with high labor charges, thus cleaning robots could be an excellent option for cleaning homes.
Based on geography the market is segmented into North America, South America, Europe, Asia Pacific and Rest of the world.
North America accounted for the largest market share for cleaning robot. The United States is the major contributor to the growth of cleaning robots market in North America region due to increasing advancement in technology and high spending rate.
The Asia-Pacific market is expected to show strong growth due to rising adoption of cleaning robots and the emergence of new global players with new developments in their products.
Key Companies in the market
Key players in the global Cleaning Robot market are Ecovacs, iRobot, Dyson Ltd., Koninklijke Philips N.V., LG Electronics Inc., Neato Robotics Inc., Intellibot Robotics, and Samsung Electronics.
The key players are adopting various vital strategies such as partnerships, collaborations, and product development to introduce new technologies in the market.
For instance, In Oct 2017, iRobot Corp. acquired privately-held Robopolis SAS (Robopolis), based in France. The acquisition enabled iRobot to capitalize on market momentum driving accelerated adoption of robots for the home.
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