The cleaning robot market is projected to grow from US$ 2,475.9 million in 2018 to US$ 8,441.3 million by 2025; it is estimated to record a CAGR of 19.2% from 2018 to 2025.
High penetration of automation in household appliances and Busy life in urban areas are driving the market growth.
Cleaning Robots are the robots that are used for the cleaning activities for different types of end-users such as residential, commercial, and industrial. These types of robots are used for a wide variety of applications such as floor cleaning, lawn cleaning, pool cleaning, window cleaning, and other applications such as gutter cleaning, litter cleaning, and several others. With the increasing adoption of automation in different sectors and end-users, the cleaning robot market is seeing rapid growth in the coming years.
Geographically the market is presently dominated by developed regions like APAC and North America. The market is expected to be largest as well as fastest in Asia Pacific, as the region is anticipated to witness tremendous development in smart cities and adoption of automation. Japan, South Korea, and China being some of the key countries contributing to the APAC cleaning robot market growth.
Robust economic growth in Asian provinces has meant increased spending ability per capita. Over the years the most prominent countries in the regions that include China, India, Japan, Singapore, South Korea and Vietnam have witnessed noteworthy growth in their economy, subsequently contributing to the growth of service robots industry.
Asia Pacific is at the forefront of a global trend toward increasing complexity in the cleaning robot market; recently it was found that consumers across APAC increasingly prefer to automate their household activities, which is majorly due to substantial growth in urbanization and hectic lifestyle. The increasing use of these domestic service robots is expected to significantly contribute towards the growth of cleaning robot market during the forecast period.
The Chinese companies are rapidly taking over the robotic market worldwide. Recently the IFA consumer electronics trade show, held in Berlin, reported that 90% of the Personal Robots in the exhibition were made by Chinese companies. The factor contributing to the growth of service robots in the country is increasing international mergers and acquisitions, collaboration, and overseas R&D centers.
South Korea has been experiencing noteworthy development in the robot industry. There are several tech giants, such as LG, that are rolling out novel robots in order to replace workers in airports, hotels and supermarkets. More such investment initiatives in the country are expected to boost the demand for cleaning robots in the country. Japan is among the key countries in technological development of robots across the globe. Also, declining working population in the country is anticipated to raise the demand for service robot in the country.
The cleaning robot market is segmented on the basis of type, end user, and geography. Based on type, the cleaning robot market is segmented into floor cleaning, lawn cleaning, pool cleaning, and window cleaning. Based on end user, the cleaning robot market is segmented into residential, commercial, and industrial. By geography, the cleaning robot market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
iROBOT, Neato Robotics, Inc., Samsung Electronics Co., Ltd., LG Electronics, Koninklijke Philips N.V., Dyson Limited, Ecovacs Robotics, Inc., Panasonic Corporation, Alfred Kärcher GmbH & Co. KG., TASKI Intellibot are key market players operating in the cleaning robot market and profiled in this market study.
In past few years the European service robot’s industry experienced a significant thrust and offers robust expansion opportunities to the market players in coming years. The region is in a strong position to invest and capitalize both financially and intellectually into the market, in order to reap the long term benefits of service robots.
There has been significant developments in the region, owing to the key technical advances leading to widespread awareness among the people regarding service robots. The opportunity for service robots in Europe is expected to extend beyond the early applications including domestic applications, education entertainment and assistive living. The overall growth of these robots in regarded as very high in Europe.