Global Cleaning Robot Market Report 2019-2024: Market is Expected to Register a CAGR of 16% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 14, 2019--
The “Cleaning Robot Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The Cleaning Robots Market is expected to register a CAGR of 16% during the forecast period 2019-2024
Technological innovation and modernization, coupled with the changing lifestyle of people, are the major factors propelling the growth of robotics for various purposes. Increased adoption of smart home devices is augmenting the growth of cleaning robotics for domestic as well as industrial uses.
Also, the rise in labor costs and increasing safety concerns have further boosted the market growth. The various applications of cleaning robots range from floor cleaning, window cleaning, pool cleaning, etc. The use of cleaning robots minimizes human efforts and saves time, costs, and electricity.
However, the costs involved in deploying the cleaning robots are a major factor restraining the market growth for the majority of the population. Cleaning robots are expected to replace the traditional vacuum cleaner as it replaces human efforts with automation and also saves electricity. However, the costs involved as compared to a vacuum cleaner is expected to hinder the adoption of cleaning robots.
Also, the people in emerging economies such as India and China still rely on labor or traditional vacuum cleaner for cleaning purposes.
Key Market Trends
Pool-cleaning Robots in Commercial and Domestic Use Segment is Expected to Grow Significantly
Asia-Pacific Expected to Exhibit Maximum Adoption Rate
The competitive landscape of the cleaning robot market is moderately consolidated due to the presence of few vendors in the market coupled with new players entering the market with new products and solutions and capturing the market share. Although the cleaning robot is still developing, various existing as well as various start-ups, have begun conducting experiments and partnering with various electronic component manufacturers to provide efficient cleaning equipment integrated with all the major technologies.
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption of Smart Home Devices
4.2.2 Increasing Safety Concerns
4.3 Market Restraints
4.3.1 High-Costs Involved
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter’s Five Force Analysis
4.5.1 Threat of Substitute Products
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Bargaining Power of Suppliers
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By End-user Application
5.1.4 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 iRobot Corporation
6.1.2 Samsung Electronics Co., Ltd.
6.1.3 Neato Robotics
6.1.4 Ecovacs Robotics
6.1.5 Intellibot Robotics
6.1.6 Dyson Ltd.
6.1.7 Robosoft Systems
6.1.9 Xiaomi Corporation
6.1.10 LG Electronics Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/6bmpor
View source version on businesswire.com:https://www.businesswire.com/news/home/20191114005362/en/
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INDUSTRY KEYWORD: TECHNOLOGY RETAIL HOME GOODS OTHER TECHNOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 11/14/2019 07:02 AM/DISC: 11/14/2019 07:02 AM