Published Date: 30-Sep-2022
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According to a new report, published by KBV research, The Global Household Robots Market size is expected to reach $20 billion by 2028, rising at a market growth of 15.0% CAGR during the forecast period.
The Products market is generating high revenue in the Global Household Robots Market by Offering in 2021; thereby, achieving a market value of $14.9 billion by 2028. It is because robotic vacuum cleaners, lawnmowers, and pool cleaners are some examples of product offers. Technology is advancing and products are becoming more trustworthy with time. Battery, brush, and filter replacements may be done rapidly by the user.
The Domestic market is showcasing a CAGR of 14.8% during the forecast period. It is because the popularity of items like robotic vacuum cleaners, as well as rising consumer knowledge and adoption of indoor and outdoor smart home gadgets, may be used to explain the expansion of the market for household robots.
The Online market acquired the maximum revenue share in the Global Household Robots Market by Distribution Channel in 2021; thereby, achieving a market value of $12.7 billion by 2028. With consumers' increasing interest in cutting-edge consumer gadgets. Additionally, segmental growth is being supported by the manufacturers' continued business expansion strategies, such as their partnerships with distributors. Users may save a ton of time by shopping online, which is one of its main advantages.
The Pool Cleaning market would witness a CAGR of 15.5% during (2022 - 2028). Robotic pool cleaners are technologically sophisticated tools that are in high demand on the market. Features that are quick, dependable, and simple are important drivers of increased product demand in the market.
The Asia Pacific market dominated the Global Household Robots Market by Region in 2021; thereby, achieving a market value of $7.6 billion by 2028. The Europe market is expected to witness a CAGR of 14.8% during (2022 - 2028). Additionally, The North America market is expected to witness a CAGR of 14.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/household-robots-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 Samsung Electronics Co., Ltd. (Samsung Group), LG Electronics, Inc. (LG Corporation), iRobot Corporation (Amazon.com, Inc.), Xiaomi Corporation, Ecovacs Robotics Co., Ltd., Deere & Company, Dyson Limited, LEGO Group (KIRKBI A/S), Sharp Corporation and Ubtech Robotics Corp. Ltd.
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