The increasing number of women in the workforce in countries such as China and India will present significant growth opportunities for market vendors
The residential robotic vacuum cleaner market is projected to grow by USD 3.49 billion. A report by Technavio notes that the market will register a CAGR of almost 17 per cent during 2021-2025.
“APAC occupied about 40 per cent of the market share in 2020 and the region is offering significant growth opportunities for market vendors. Rapid urbanization and the rising middle-class section are increasing the adoption of vacuum cleaners in the region,” says a senior analyst at Technavio.
The analyst adds, “Also, the increasing number of women in the workforce in countries such as China and India will present significant growth opportunities for market vendors.”
Factors such as increasing economic prosperity, high purchasing power and disposable income, aging population, increasing adoption of automated solutions, and the emergence of smart cities will be crucial in driving the growth of the market in APAC. The revenue contribution to the market in APAC will be maximum from countries such as China and Japan.
The robot vacuum cleaner only segment registered maximum growth in the market in 2020. The segment is driven by the simplicity of operation, ease of disposing of dust, and lower cost of robotic vacuum cleaners. Also, new product launches are expected to contribute to the growth of the segment during the forecast period.
Market in North America
The market in North America is expected to register a 16.39 per cent CAGR in North America during 2021-2025. The market is observing high replacement of traditional and old devices with technically advanced residential robotic vacuum cleaners.
In addition, rapid urbanization and increasing standard of living in Mexico will drive the growth of the residential robotic vacuum cleaner market growth in North America. The revenue contribution to the market in North America will be maximum from the US.
“Vendors operating in North America are making significant investments in R&D to bring innovations in products. Besides, the high awareness among the general public and rising number of working women will be crucial in fueling the market growth in North America,” says a senior analyst at Technavio.
Market in Europe
The market is expected to register a 15.01 per cent CAGR in Europe during the forecast period. The introduction of low-power but high-performance robotic vacuum cleaners and the proliferation of vendors are fostering the growth of the residential robotic vacuum cleaner market in Europe. The UK and Germany are the major markets for residential robotic vacuum cleaners in the region.
“Consumers in Europe are very educated, tech-savvy, and exhibit high acceptance for technologically advanced products. This is encouraging vendors operating in the region to introduce innovative features such as IoT, mobile app integration, auto charging, and others. Such developments are increasing the market growth in Europe,” says a senior analyst at Technavio.
