NEW YORK – The cleaning robot market size is expected to increase by USD 13.29 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 21.85% according to the latest research report from Technavio. 45% of the market’s growth will originate from APAC during the forecast period.
China and Japan are the key markets for the cleaning robot market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The high awareness about robotic solutions and an increase in the aging population will facilitate the cleaning robot market growth in APAC over the forecast period.
Cleaning Robot Market – Scope
Cleaning Robot Market – Drivers & Challenges
The changing lifestyles and a tech-savvy population are some of the key drivers supporting the cleaning robot market growth. Citizens are willing to purchase products that involve the use of advanced technologies in their operation and are helpful in facilitating work, especially time-consuming and repetitive chores like cleaning. Developed countries are demonstrating a high affinity for high-tech gadgets that are effective and can be controlled easily.
Moreover, evolving lifestyles and busy schedules leave consumers hard-pressed for time for performing cleaning and mopping tasks. People prefer to utilize their time in social engagements or in productive activities rather than cleaning and mopping. This is further driving the adoption of cleaning robots. Therefore, the deployment of cleaning robots has proved useful in terms of saving human workers from dangers involved in industrial cleaning operations and thereby, driving the market growth.
However, the high cost of cleaning robots is hindering the cleaning robot market growth. The cost of deploying professional cleaning robots is high, owing to the prices of electronic components used in the production of these robots. Also, due to the nature of work and the environment that these robots work in, they need to undergo frequent maintenance.
These robots are incapable of self-maintenance, which is a challenge for the kind of operations that they perform. Cleaning robots work in spaces that are hard to reach and cannot be kept under constant observation. The technology to avoid the myriad risk is yet to be incorporated into these robots. Such yet-to-develop factors may hamper the market growth during the forecast period.
Cleaning Robot Market – Segmentation Analysis
The Cleaning Robot Market is segmented by Type (Personal cleaning robot and Professional cleaning robot) and Geography (APAC, North America, Europe, MEA, and South America).
The cleaning robot market share growth by the personal cleaning robot segment will be significant for revenue generation. Households are the primary end-users of personal cleaning robots in the residential sector. This sector holds significant growth potential for it as vendors have penetrated only one-tenth of the total addressable market. This has led to the increased entry of many new players into the market, including those specializing in consumer electronics products. In addition, the growing trend of online retailing in the residential sector will boost product sales during the forecast period.
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
This article was shared with Prittle Prattle News as a Press Release by PRNewswire
