The Household Robots by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Household Robots, The household robots market size has grown rapidly in recent years. It will grow from $8.1 billion in 2023 to $9.7 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to consumer desire for convenience, smart home integration, increased consumer awareness, affordability improvements, environmental sustainability, safety improvements, government initiatives.
The household robots market size is expected to see exponential growth in the next few years. It will grow to $20.35 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to advancements in human-robot interaction, growing adoption of voice assistants, expansion of robotic lawn care, advancements in object recognition, continued decline in component costs, expanding applications in hospitality.. Major trends in the forecast period include increased adoption of robotic vacuum cleaners, ai and machine learning advancements, multi-functional robots, personal assistant robots, cloud connectivity and data analytics, energy-efficient and eco-friendly designs.
High demand for robots are expected to boost the growth of the household robots market going forward. Robots refer to any autonomously run system that substitutes human effort. Most people prefer to use robots to assist with household chores like cleaning and ironing. Thus, growing robots demand is expected to boost the household robot market. For instance, in October 2022, according to a report released by the International Federation of Robotics, global robot installations are expected to rebound strongly and grow by 13% to 435,000 units in 2021. Additionally, America's sales increased by 27% to 44,300 units sold. Asia and Australia saw the most growth in demand, with installations climbing 33% to 354,500 units. Furthermore, according to early figures from the International Federation of Robotics (IFR) for 2021, Europe experienced double-digit growth of 15%, with 78,000 units. Therefore, demand for robots will drive the growth of the household robots market.
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The household robots market covered in this report is segmented –
1) Household Robots Market By Type: Domestic, Entertainment and Leisure
2) Household Robots Market By Offering: Products, Services
3) Household Robots Market By Application: Vaccuming, Lawn Mowing, Pool Cleaning, Companionship, Elderly Assistance and Handicap Assistance, Robot Toys and Hobby Systems, Other Applications
Technological advancements have emerged as the key trend gaining popularity in the household robot market. Major companies operating in the household robot market are developing innovative technologies to strengthen their position in the market. For instance, in March 2022, Ecovacs Robotics, a China-based top auto cleaning robots designer, launched DEEBOT X1 OMNI, an all-in-one vacuum and mopping robot, based on TrueMapping technology. Some of the unique features of the DEEBOT X1 Omni are the All-in-One OMNI Station, and the potent AIVI 3D. The DEEBOT X1 Omni is specifically designed to perform all-around cleaning to improve daily life.
The household robots market report table of contents includes:
1. Executive Summary
2. Household Robots Market Characteristics\
3. Household Robots Market Trends And Strategies
4. Household Robots Market - Macro Economic Scenario
5. Global Household Robots Market Size and Growth
....
31. Global Household Robots Market Competitive Benchmarking
32. Global Household Robots Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Household Robots Market
34. Household Robots Market Future Outlook and Potential Analysis
35. Appendix
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Household Robots Market AnalysisA new market study, titled “Household Robots Market Analysis” has been featured on Market Research Future.Increasing interest in the development of robotic technology globally and surged cost efficacy in the making of household robots primarily drive the household robot market.
Giant players like LG Electronics Inc., Samsung Electronics Co Ltd., Husqvarna employ their technical know-how in making industrial robots to manufacture cost-effective and efficient household robots, which is propelling the market growth.
The application of robots encompasses services such as maintenance, installation, reprogramming, and repair.Related Article@ https://www.marketwatch.com/press-release/household-robot-market---share-demand-growth-key-opportunities-key-players-and-industry-analysis-by-2025-sars-cov-2-covid-19-analysis-2020-08-12?tesla=yWhile the household robot services segment comprises a small segment of the market, manufacturers can exploit the prevailing infrastructure to offer quality service for household robots.
The development of the worldwide consumer electronics market is surging the upgradation of electronic elements that are crucial for the cost-effective making of robots.
Labor-intensive chores like window and pool cleaning, and vacuuming are consistently being automated, which is contributing directly to the expansion of the house cleaning robot segment.
Besides, the robotics toys market includes pet robots, hobby robots, and educational robots.
The growth sectors of the Household Robots Market Analysis are identified with precision for a better growth perspective.Rising interest in the growth of robotic technology worldwide and increased cost efficiency in the manufacture of household robots.Inter-Market DependencyBy ComponentGlobal Robot Market: According to MRFR analysis, the global robotics market is slated to grow to USD 93 billion by 2024 at a CAGR of 16% during the forecast period of 2019 to 2024.
Companies such as Samsung Electronics Co Ltd., LG Electronics Inc., and Husqvarna utilize their technical expertise in creating industrial robots to manufacture efficient and cost-effective household robots, which is fueling market growth.Global Robot Services Market: The use of robots entails services such as installation, maintenance, repair, and reprogramming.
While the household robot services segment constitutes a small section of this market, providers can utilize the existing infrastructure to provide quality service for household robots.By TypeGlobal Consumer Electronics Market: The growth of the global consumer electronics market is fueling the innovation of electronic components that are critical for the cost-effective manufacturing of robots.
The global household robots market directly benefits from this innovation and an increasing number of household appliances can now be automated with ease.Global Entertainment Robot Market: Robots with advanced AI are increasingly in demand as pets and companions.
The advanced heuristic learning capabilities of entertainment robots adds value, fueling demand.
Companies such as Blue Frog Robotics cater exclusively to this market.By ApplicationHousehold Electronic Appliance Market: This large and competitive market is capitalizing on the growth of allied markets such as electronics, semiconductors, and AI to automate domestic appliances.
Household Vacuum Cleaning Robots is an autonomous Household Vacuum Cleaning Robots that has intelligent programming and a limited vacuum cleaning system.
simultaneous to vacuuming, thus rendering the machine into more than just a robot "vacuum" cleaner.At present, in the foreign industrial developed countries the Household Vacuum Cleaning Robots industry is generally at a more advanced level, the world's large production are mainly concentrated in china.
But foreign companies’ manufacturing cost is relatively high, compared with Chinese companies, the manufacturing cost has competitive disadvantage, as the Chinese Household Vacuum Cleaning Robots production technology continues to improve, their share in the international market is increasing, competitiveness in the international market gradually increase .
Currently the global top three external sale manufacturers are: iRobot, Ecovacs, Proscenic their production market share is over 34%.With the rapid growth of the national economy as well as the rapid development of downstream industries, Chinese people is becoming more and more wealthiness, along with the increasing life quality, the requirement of environmental protection is increasing, the technology upgrade of Household Vacuum Cleaning Robots is a trend, after the revolution, the industry will have more benign development.
According to this study, over the next five years the Household Vacuum Cleaning Robots market will register a 14.2% CAGR in terms of revenue, the global market size will reach US$ 580 million by 2024, from US$ 260 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Household Vacuum Cleaning Robots business, shared in Chapter 3.This report presents a comprehensive overview, market shares, and growth opportunities of Household Vacuum Cleaning Robots market by product type, application, key manufacturers and key regions and countries.This study considers the Household Vacuum Cleaning Robots value and volume generated from the sales of the following segments: Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.Single functionMultifunction Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.VacuumSweep This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC Countries The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
We present the impact assessment of Covid-19 effects on Household Vacuum Cleaning Robots and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.
).GLOBAL INFO RESEARCH has recently published a research report titled, [Global Household Vacuum Cleaning Robots Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025] assessing various factors impacting its trajectory.
The data includes historic and forecast values for a well-rounded understanding.
This report includes assessment of various drivers, government policies, technological innovations, upcoming technologies, opportunities, market risks, restrains, market barriers, challenges, trends, competitive landscape, and segments.Click to view the full report TOC, figure and tables: https://www.globalinforesearch.com/reports/526387/household-vacuum-cleaning-robotsThe key market players for global Household Vacuum Cleaning Robots market are listed below:iRobotEcovacsProscenicMatsutekNeato RoboticsInfinuvo（Metapo）LGSamsungSharpMamirobotFunrobot（MSI)Yujin RobotVorwerkPhilipsFmartHanool RoboticsMieleGlobal Household Vacuum Cleaning Robots Market: Drivers and RestraintsThis section of the report assess various drivers, opportunities, and restrains that lie in the market.
The report will help readers determine the key drivers and solutions for restraints.
The chapter on drivers and restraints also offers an evaluation of the investments made in production innovation through the years.
