Published Date: 20-Aug-2020
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According to a new report Global Robotic Vacuum Cleaner Market, published by KBV research, The Global Robotic Vacuum Cleaner Market size is expected to reach $5.7 billion by 2026, rising at a market growth of 18.9% CAGR during the forecast period.
In terms of sales, offline distribution channels dominated the market. This is attributed to the growing amount of retail hardware and appliances stores, resulting in a rise in shelf room for the marketing of products. Consumers prefer to buy robotic vacuum cleaners from offline shops to find the best match and to understand the mechanism and features of the robotic vacuum cleaner. The rise in social media ads promotes the growth of online distribution channels. The introduction of different products and comparison features on the internet and easy return policy is changing consumer preferences for online purchases.
The Asia Pacific led the robotic vacuum cleaner market with a dominant market share. It is projected to see the highest development in the forecast period. China is a major contributor to the Asia Pacific and the nation produced the highest revenue in 2019. This is due to the low cost of the product, the high purchasing power of consumers, and the strong presence of regional companies in the country. Europe market maintained its position as the second biggest market in 2019. It is due to creativity in product innovations in the region, along with customer desire to spend on added value and innovative products that make life easier.
Structural Insights: https://www.kbvresearch.com/robotic-vacuum-cleaner-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 Koninklijke Philips N.V., Xiaomi Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Panasonic Corporation, Pentair PLC, iRobot Corporation, Maytronics Ltd. (Kibbutz Yizre'el Holdings 2004 ACS Ltd.), Neato Robotics, Inc., SharkNinja Operating LLC (CDH Private Equity), and Ecovacs Robotics Co., Ltd.
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