Chicago, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Household Robots Market is projected to grow from USD 9.2 billion in 2022 to USD 19.3 billion by 2027, at a CAGR of 16.0% during the forecast period from 2022 to 2027, according to a new report by MarketsandMarkets™. The growth of this market is driven by the increasing demand for robots in the domestic segment, growing demand for autonomous robots, increasing government initiatives for the development of robotic technologies, and rising use of IoT in robots for cost-effective predictive maintenance.
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Pool cleaning applications held second-largest share of household robots market in 2021
Pool cleaning applications held the second-largest share of the household robots market in 2021. A robotic pool cleaner is a highly advanced device for cleaning the pool and is seen as a desirable product in the market. Quick, reliable, and easy features are significant factors that boost product demand in the industry. The growth avenues in the global market are attributed to the increasing disposable income worldwide, which further increases their expenditure capacities on the leisure activities, such as swimming and other related trips. These activities encourage increased involvement in swimming and thus bolster the requirement for the equipment and some other required items to clean the pool.
Domestic robots segment to hold larger market during forecast period
Domestic robots include 4 applications: vacuuming, lawn mowing, pool cleaning, and window cleaning. The vacuuming application has the largest share of the market for domestic robots. The growth of the market for domestic robots can be attributed to the popularity of products such as robotic vacuums, as well as increasing consumer awareness and acceptance of indoor and outdoor smart home appliances. Technological improvements in domestic robots, such as area mapping and voice assistant integration, coupled with the practical benefits of automating household chores, enable them to occupy a larger market share.
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North America accounts for second-largest market share of household robots market during forecast period
The North American region held the second-largest share of the household robots market in 2021 by value. This can be attributed mostly to the popularity and sales of robotic vacuums and lawnmowers in the US and Canada. The influx of IoT and the adoption of autonomous technology are strong in this region, thus helping the household robots market grow rapidly.
Some of the key companies in the household robots market are iRobot Corporation (US), Ecovacs Robotics Co., Ltd. (China), Xiaomi Corporation (China), Maytronics, Ltd. (Israel), Samsung Electronics Co., Ltd. (South Korea), Neato robotics, Inc. (US), Dyson Limited (Singapore), LG Electronics Inc. (South Korea), LEGO A/S (Denmark), Hayward Holdings, Inc. (US), etc.
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