Rising Integration with Smart Home Ecosystems Augments Growth in the Cleaning Robot Market; FMI Analysts Predict Market Valuation to Surpass US$ 87.0 billion by 2034
NEWARK, Del, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The cleaning robot market size is poised to cross US$ 12.2 billion in 2024 and is likely to attain a valuation of US$ 87.0 billion by 2034. The cleaning robot market is projected to thrive at an astronomical CAGR of 21.7% from 2024 to 2034.
Manufacturers of cleaning robots are deliberately coordinating their offerings with the growing trend of smart house adoption. Considering the robust urbanization in countries like India, China, South Korea, and others, businesses are tapping into a profitable market segment looking for networked household appliances by including cleaning robots in smart home ecosystems. This connection strengthens cleaning robots' value proposition and positions them as necessary elements of contemporary, digitally linked homes.
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Cleaning robots can become essential parts of modern building management systems through integration with smart building technology. Together, these efforts can increase energy efficiency, predictive maintenance, and cleaning schedules dependent on building occupancy.
Businesses can benefit from the increasing interconnectivity of devices and data in the home environment by outfitting cleaning robots with Internet of Things connectivity. Manufacturers boost user comfort and accessibility by offering remote monitoring and control of their robots through internet connectivity. Furthermore, these capabilities enable firmware upgrades to be downloaded over the air, guaranteeing that the IoT-enabled cleaning robots always have advanced features and performance improvements.
Key Takeaways from the Cleaning Robot Market Report
- The global cleaning robot market size expanded at a 25.9% CAGR through 2034.
- The personal cleaning robot segment is projected to rise at a 21.5% CAGR through 2034.
- The floor-cleaning robot segment is expected to develop at a 21.3% CAGR through 2034.
- The market size in the United States is projected to rise at a 21.9% CAGR through 2034.
- The market size in Japan is anticipated to develop at a 22.8% CAGR through 2034.
- The market size in the United Kingdom is estimated to surge at a 23.0% CAGR through 2034.
- The market size in South Korea is expected to thrive at a 23.6% CAGR through 2034.
“Understanding customer trends, encouraging innovation, and guaranteeing regulatory compliance are critical to success in the ever-evolving cleaning robot market. Strategic alliances and a dedication to sustainability further improve market positioning. Being flexible and agile is necessary to survive in this changing environment."- says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights.
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Competitive Landscape
The cleaning robot market is extremely competitive, with fast startups posing a threat to established industry titans like iRobot and Ecovacs. Key elements include strategic alliances with top technology firms, an emphasis on AI capabilities, and localization for preferences. One of the most important success aspects is fostering brand loyalty through competitive pricing tactics and great customer experiences. The dynamic nature of the market is influenced by strategic partnerships, technical innovation, and a deep comprehension of changing customer needs.
Recent Developments
- In January 2024, Samsung Electronics announced a new range of AI vacuum cleaners at CES® 2024. The Bespoke Jet Bot ComboTM vacuum and mop robot cleaner will include upgraded AI features as well as steam cleaning to make cleaning easier for customers.
- In November 2023, SIMPPLE Ltd., a leading provider of advanced technological solutions in the PropTech industry, introduced its patented 2-in-1 Multi-Functional (Cleaning and Security) Robot, revolutionizing facility management. The new robot is expected to change how facility owners and service contractors manage resources, expedite operations, and improve security.
Key Players in the Cleaning Robot Market
- iRobot Corporation
- Ecovacs Robotics
- SharkNinja
- Xiaomi Corporation
- Samsung Electronics Co., Ltd.
- Neato Robotics
- ILIFE Robotics
- bObsweep
- Roborock
- Dyson Ltd.
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Cleaning Robot Market Segmentation
By Type:
- Personal Cleaning Robot
- Professional Cleaning Robot
By Product:
- Floor-cleaning Robot
- Lawn-cleaning Robot
- Pool-cleaning Robot
- Window-cleaning Robot
- Others
By Application:
- Residential
- Commercial
- Industrial
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
Authored by:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, and technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspectives. She has also been involved in several bulletins in food magazines and journals.
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About Future Market Insights, Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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