The home care robotic market is mainly growing on the ground of rising demand for wireless products along with the advancement in technology in terms of smart homecare systems. Also, the growing adoption of the smart home, improving the standard of living, and ongoing urbanization around the world are expected to provide enormous growth to the market. Moreover, the rising geriatric population base coupled with government support is another factor fueling the market growth.
As per the latest report added by Value Market Research, Global Home Care Robotic Market was valued at USD XX MN (by revenue) in 2022 and is anticipated to reach USD XX MN by 2030 with a CAGR of XX%.
FLOOR CARE PRODUCT GENERATE THE HIGHEST DEMAND AMONG OTHER SEGMENTS
This type of homecare robot takes care of various house chores like vacuuming, mopping, and cleaning. Owing to their vast application in-home care they are likely to dominate the segment and are expected to bring USD XX.X MN by end of 2030. Moreover, the growth of the segment is also accounted for the rising innovation in technology in terms of artificial intelligence systems in order to increase the performance level of the system.
EUROPE ACCOUNTED FOR THE HIGHEST MARKET SHARE IN GLOBAL HOMECARE ROBOTIC
Europe is expected to continue its dominance over the forecast period and it is estimated to reach USD XX.X MN by the end of 2030. The growth is mainly attributed to the growing popularity of robotic systems along with the integration of artificial intelligence is likely to fuel the regional market growth. Also, the manufacturer is developing cost-efficient and emotional therapy to meet the growing demand is again boosting the growth of the market.
MAJOR PLAYERS IN THE MARKET:
Bissell Homecare Inc., iRobot Corporation, Ecovacs Robotics and Others.
As per this study the Global Home Care Robotics Market was valued USD XX MN (by revenue) in 2022 and is anticipated to reach USD XX MN by 2030 with a CAGR of XX%.
Home care robotics is a broad sector and include a various application focused on single tasks, such as floor care, lawn care, and pool care. The vast majority of these are floor care robots, which include vacuum cleaners, floor washers, and hybrid products. Robotic vacuum cleaners still leading the floor care robotics segment. Owing to its dominance in robotic vacuum cleaners, iRobot is still the overall home care robotics market leader. Today, Wi-Fi is promptly becoming a standard technology in home care robots, starting with floor cleaners. With the advanced technology, wireless connectivity allows robot systems to be monitored and controlled remotely, but in the years to come, mobility, their connectivity, sensors, and functionality, such as machine vision, will expand their capabilities as part of the smart home.
Market Dynamics
Growing demand for the wireless product along with the innovation in technology is the major factor that raising the demand for home care robotics. Moreover, adoption of the smart home, improving the standard of living and ongoing urbanization across the globe is expected to provide enormous growth to the market. Moreover, the rising elderly population in Europe and North America coupled with government support and finding is another factor serving as key drivers of the market. However, the high cost of R & D along with the issues associated with the battery is expected to limit the market growth. Nevertheless, rising Wi-Fi connectivity across the globe is projected to offer new opportunity growth to the market.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of home care robotics.
Market Segmentation
The broad home care robotics market has been sub-grouped into the product. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product
- Vacuum Cleaner
- Floor Washer
- Pool Cleaner
- Lawn Mower
- Other
By Application
- Floor Care
- Lawn Care
- Pool Care
- Other
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for home care robotics in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Home Care Robotics Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the home care robotics market includes iRobot Corporation, Bissell Homecare, Billy Goat Industries, Ecovacs Robotics, Husqvarna, Worx Landroid, iRobot, Krcher, Honda Power Equipment, Hako, Robomow, Pyara Singh & Sons, Fluidra, Elgee, Exprolink, TSM, Overton, Tennant, Vacuum Cleaners, Polaris. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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