Global Residential Robotic Vacuum Cleaner Market to Gain from Rising Expenditure on Appliances in Emerging Economies, says TMR
Transparency Market Research’s new report on the global residential robotic vacuum cleaners market draws on data gathered from premium databases, opinion leaders, and independent research to provide decision makers in this market a clear view of where the market is headed. The report is titled, “Residential Robotic Vacuum Cleaner Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.” The report estimates the size of the global residential robotic vacuum cleaner market in terms of value and volume. By drilling down to the second- and third-level segmentation of the market, the report makes for a comprehensive analytical study.
Residential robotic vacuum cleaners have seen several improvements and advancements over the last decade, making them an appealing investment for consumers in both residential and commercial sectors. The contemporary robotic vacuum cleaners designed for households come with attributes such as room mapping, laser vision, remote timing, stair detection, a compact form factor, and longer battery life.
The market for residential robotic vacuums, also known as robovacs, has reported steady growth in developed nations over the last couple of decades, but is yet to display the same promise in terms of either volume sales or value in developing countries. Even so, that situation is changing now with consumers in developing nations having more income at their disposal – a sizeable portion of which is spent on white goods. Sales of white goods have shown a steady year-on-year rise in countries such as Brazil, India, and China. This aspect will have a positive impact on the sales of robovacs as well. With automation becoming a common trend in many parts of the globe, the demand for residential robotic vacuum cleaners is expected to show a steady upward growth graph.
Get More Information:
However, consumers in countries where traditional cleaning methods are still the standard are still not sold on the idea of investing in robovacs. Moreover, the prices of robovacs could stand in the way of the market’s growth in the short term. This impediment will, however, likely address itself with the costs of electronic products steadily declining – this will enable manufacturers to pass on cost benefits to end consumers.
A substantial share of global revenues from residential robotic vacuum cleaners comes mainly from countries in North America and Western Europe. With volume sales gradually picking up in countries in Asia Pacific, the region’s share in the global revenue pie is expected to expand through the report’s forecast period.
The global robovacs market features global players such as Samsung Electronics Co., Ltd., Ecovacs Robotics, Inc., Hayward Industries, Inc., N.V, Pentair plc., Philips Electronics, and Yujin Robot, Co., Ltd. These leading players are currently prioritizing making inroads into emerging markets and bringing more competitively priced products to the market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.