Global Floor Cleaning Robot Market to Witness CAGR of above 18.4%
Based on the robot type, [4]the global floor cleaning robot market is segmented into robotic vacuum cleaner and robotic mops & hybrid robotic floor cleaner. [5]Robotic vacuum cleaner was the dominant segment in 2018 and is projected to maintain its market dominance throughout the forecast period. This is mainly due to the cost-performance ratio and rising preference for robotic floor cleaners equipped to remove even the tiny particles that lead to health issues. Robotic mops & hybrid robotic floor cleaner is anticipated to be the fastest-growing segment, i.e., at a CAGR of 23.8%, during the forecast period. Also, this segment is expected to create an incremental opportunity of more than $1 billion between 2018 and 2025.
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Based on the sales channel, the global floor cleaning robot market is segmented into brick & mortar and eCommerce. eCommerce is identified as the fastest-growing segment, i.e., at a CAGR of 20.3%, during the forecast period 2019–2025.[7] The growth of this segment is driven by increasing customer reliance on online platforms for attributes, such as fast delivery with exclusive deals when compared to offline retail stores. [8]Moreover, online channels play a vital role in today’s customer purchase journey, which helps customers in making better and faster decisions.
Regionally, the global floor cleaning robot market is segmented into Asia Pacific, Americas, Europe, and Middle East & Africa. Asia Pacific dominates the global floor cleaning robot market, contributing 35% share, and is expected to remain dominant during the forecast period. This is mainly due to China’s dominance in floor cleaning robot penetration and [9]favorable demographics, i.e., expanding nuclear families along with increasing disposable income across various countries in the Asia Pacific region.
“Floor cleaning robots and other domestic service robots are on the verge of becoming an integral part of modern smart homes.” – Delsingh Bright, Sr. Research Analyst, Infoholic Research