Global Cleaning Robot Market is Expected to Reach USD 2.50 Billion by 2020

Date: 2015-10-12

Over the last decade, there has been a steady growth in the cleaning robot market. The growth of cleaning robot market is propelled by drivers such increase in demand of cleaning robot owing to the rise in labor costs. The cleaning robot market was valued at USD 1.04 billion in 2014, and is expected to reach USD 2.50 billion by 2020, at a CAGR of 15.3% from 2015 to 2020.

The robotic vacuum cleaner market based on the product type is segmented into floor robot, pool robot, window robot, and lawn robot. Amongst these the floor cleaning robot market is expected to grow at the highest CAGR of 15.8% between 2015 and 2020, followed by the pool cleaning robot market at a CAGR of 14.5% between 2015 and 2020. 

Major verticals of the application of cleaning robot include residential, commercial, industrial, and healthcare. The residential vertical led the global cleaning robot market in 2014, and accounted for a share of 59.4%.

The North American region held the largest share of 39.9% in the cleaning robot market, in 2014. The growth of the cleaning robot market in North America is driven by various factors, such as the presence of well-established cleaning robot manufacturers and high labor costs. The European cleaning robot market accounted for a share of 26.0% of the global cleaning robot market in 2014.

Some of the companies involved in the market include Dyson Ltd. (Cotswolds, U.K.), Ecovacs Robotics, Inc. (U.S.), Infinuvo (U.S.), iRobot Corporation (Bedford, U.S.), Koninklijke Philips N.V. (Netherlands), LG Electronics, Inc. (Seoul, South Korea), Neato Robotics, Inc. (Newark, U.S.)

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