According to a new report Global Cleaning Robot Market, published by KBV research, The Global Cleaning Robot Market size is expected to reach $24 billion by 2026, rising at a market growth of 22.9% CAGR during the forecast period.
The floor-cleaning robots segment procured the maximum revenue share of the global market in 2019 due to the increasing demand for automated home appliances and a surge in labor prices for the household. Moreover, the arrival of cleaning robots with integrated purifiers by organizations like iRobot Corporation, Neato Robotics, and Panasonic Corporation have propelled their demand.
The residential applications would emerge as the dominating segment of the cleaning robot market during the forecast period. In the residential application, the cleaning robots are used to carry out various tasks like mopping & cleaning. In some countries, deploying domestic workers is very costly. In such instances, cleaning robots can simplify the work of cleaning. Technological developments are allowing these robots to become more feasible and useful with each passing day.
APAC would procure the maximum share of the cleaning robot market and the trend would remain the same throughout the forecast period. The massive adoption of the cleaning robots in the region is due to the increasing disposable income among consumers in APAC nations. Moreover, the growth of the regional market is driven by the rising deployment of cleaning robots and the entry of worldwide players, combined with the advent of local players. The development of the cleaning robot market in the region is supporting the development of the cleaning robot market in China. China holds a major share of the cleaning robot market in the Asia-Pacific region. The Europe market is estimated to grow at a CAGR of 22.4% during (2020 - 2026). Additionally, The North America market is expected to witness a CAGR of 22.6% during (2020 - 2026).
Full Report: https://www.kbvresearch.com/cleaning-robot-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of LG Electronics, Inc. (LG Corporation), Panasonic Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Pentair PLC, iRobot Corporation, Haier Group Corporation, Xiaomi Corporation, Vorwerk & Co. KG (Neato Robotics, Inc.), Nilfisk Holding A/S, and Ecovacs Robotics Co., Ltd.
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