DUBLIN, Dec. 6, 2019 /PRNewswire/ — The “Floor Cleaning Robot Market By Robot Type , By Sales Channel, By Region – Global Forecast up to 2025” report has been added to ResearchAndMarkets.com’s offering.
Floor cleaning robots and other domestic service robots are on the verge of becoming an integral part of smart homes. The current market for floor cleaning robot is driven by various factors, which include rising preference for connected home appliances, changing lifestyle along with shifting customer needs, and increasing labour costs tied with growing preference for service robots.
Additionally, increasing potential for AI-empowered cleaning robots in commercial applications and emerging urban middle-class households in developing nations are anticipated to offer new business opportunities for the vendors in the floor cleaning robot market during the forecast period. However, consumer concerns related to capital cost and cleaning performance are identified as restraints likely to hinder the progression of the floor cleaning robot market during the forecast period.
The availability of labour for household services has become a serious challenge, and this is expected to even become worse in developed economies in the coming years. In the past, the concept of robots in domestic environments sounded like a luxury, but due to striking local labour force, the use of service robots for the internal environment is becoming an economically sensible choice, particularly across high labour-cost countries. Moreover, increasing investments in incorporating advanced technologies, i.e., AI, to develop robots for domestic environment is expected to accelerate the penetration of service robots in households. These factors, in turn, are fuelling the growth of the floor cleaning robot market during the forecast period.
The concept of domestic floor cleaning robots is in the introductory stage of the adoption curve. Any new home appliances introduced in the market are generally viewed in two aspects from the consumer side: Necessity and Luxury. Earlier, washers and refrigerators were initially viewed as a luxury appliance. Later, these products became mainstream due to intensive marketing efforts and increased customer awareness regarding the potential benefits in terms of power, time efficiency, and return on investment. Following the same analogy, the penetration of domestic service robots is anticipated to increase in the coming years.
The progression of domestic floor cleaning robots is in the introduction stage, where most purchases are done after determining the cost-performance ratio of the product. Consumers have concerns related to the compatibility of the floor cleaning robot with their house environment and the long-term benefits of the product. In the coming years, the penetration of floor cleaning robots is expected to increase with the growing trend of home automation. Moreover, rising customer preference in modernizing the cleaning equipment, particularly among higher- and upper-median income household groups, is expected to fuel the growth of floor cleaning robots during the forecast period.
Market Segmentation: Global Floor Cleaning Robot Market
The global floor cleaning robot market is segmented on the basis of robot type, sales channel, and region. Based on the robot type, the global floor cleaning robot market is segmented into robotic vacuum cleaner and robotic mops & hybrid robotic floor cleaner. Robotic vacuum cleaner was the dominant segment in 2018 and is projected to maintain its market dominance throughout the forecast period. This is mainly due to the cost-performance ratio and increasing preference for robotic floor cleaners equipped to remove tiny particles that lead to health issues.
Based on the sales channel, the global floor cleaning robot market is segmented into brick & mortar and eCommerce. eCommerce is identified as the fastest-growing segment, i.e., at a CAGR of 20.3%, during the forecast period 2019-2025. The growth of this segment is driven by increasing customer reliance on online platforms for attributes, such as fast delivery with exclusive deals when compared to offline retail stores.
Regional Outlook: Global Floor Cleaning Robot Market
Regionally, the global floor cleaning robot market is segmented into Asia Pacific, Americas, Europe, and Middle East & Africa. Asia Pacific is anticipated to be the fastest-growing floor cleaning robot market. The market for floor cleaning robots in Asia Pacific is driven by rapid urbanization, increasing disposable income, and expanding middle-class income groups. Moreover, the growing trend of nuclearization of families throughout Asia Pacific is anticipated to fuel the growth of the floor cleaning robot market during the forecast period.
Competitive Analysis and Key Vendors: Global Floor Cleaning Robot Market
The report covers and analyzes the global floor cleaning robot market. Vendors are investing in R&D for product innovation and focusing on expanding their distribution network.
Rising preference for connected home appliances
Changing lifestyle and shifting customer needs
Increasing Labor cost coupled with rising preference for service robots
High cost along concerns related to cleaning efficiency
Increasing potential for AI empowered cleaning robots in commercial applications
Emerging urban middle-class households in developing nations
SharkNinja Operating LLC
Companies to Watch for
Cecotec Innovaciones S.L.
Neato Robotics, Inc.
ILIFE INNOVATION LTD.
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SOURCE Research and Markets