LONDON--(BUSINESS WIRE)--According to the latest research report released by Technavio, the global robotic vacuum cleaner market is expected to reach close to 3.31 billion by 2020.
This report titled ‘Global Robotic Vacuum Cleaner Market 2016-2020‘, provides an in-depth analysis of the market in terms of revenue and emerging trends. This market study also presents up to date analysis and forecasts for various market segments and all geographical regions.
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“This research study anticipates the average selling price of robotic vacuum cleaners to decline over the next four years. Thanks to this development, Technavio researchers expect the global robotic vacuum cleaner market to register positive growth until 2020. These machines reduce the time required for regular household cleaning activities and are therefore preferred by growing urbane consumers who lead a hectic lifestyle,” said Bharath, one of Technavio’s lead industry analysts for large appliances research.
“The demand for robotic vacuum cleaners is on the rise among people aged 65 years and above. People in this age group find it difficult to do physically taxing household activities, such as mopping and sweeping. The aged and disabled population worldwide has risen over the years, and it will drive this market’s growth to a considerable extent until 2020,” added Bharath.
Some of the other driving forces behind the growth of the global robotic vacuum cleaner market are as follows:
- Improved functionality and performance
- Advantages associated with the usage of NC machines
- Need to improve accuracy of product
Improved functionality and performance
Advancements in robotic technology have resulted in the development of highly sophisticated, advanced, and automated residential robotic vacuum cleaners. Robotic vacuum cleaners run on infrared sensors that ensure a logical sequential path to avoid obstacles. These machines operate wirelessly, and are powered by rechargeable batteries. They are engineered to return to the power source when batteries run low. Emerging technologies such as threshold climb, barrier recognition system, room mapping, and room memory are trending in the robotic vacuum cleaner market. These technologies improve the performance and functionality of residential robotic vacuum cleaners, and hence generate a high demand for these products among end-users.
Rising number of domestic pets
The number of households with pets is estimated to have risen considerably over the last decade. In 2011, about 66 million households in the US had pets, and the number reached 78 million by 2015. Cleaning can be cumbersome for households that have pets, especially cats and dogs that shed hair. The market has come up with robotic vacuum cleaners specifically aimed at easing the cleaning process in households with pets.
iRobot Roomba 770, iRobot Roomba 980, and Dyson Ball are some efficient pet hair removal vacuum cleaners sold in the US markets. These automated vacuum cleaners are in demand, as they remove even the finest hairs that are difficult to spot with the naked eye, and some of these products also possess the capability to disinfect the floor, and it thus eliminates chances of infections and allergies.
High competition among vendors
Globally, competition among vendors in the robotic vacuum cleaner market is intensifying rapidly. Technological innovations following investments in R&D to produce highly efficient and reliable robotic vacuum cleaners have made the market competitive. For example, Dyson has invested about USD 46 million to develop the 360 Eye robotic vacuum cleaner. The product consumed 16 years of research by 200 engineers.
The growing market for robotic vacuum cleaners has also attracted new entrants with customized products and improved features. Existing vendors are also striving to expand their product portfolio, to have a better reach of the market.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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