According to Future Market Insights (FMI), the global residential robotic vacuum cleaner market is forecasted to grow from US$ 2.5 billion to US$ 9.7 billion between 2022 and 2032, with overall sales accelerating at a 14.5 percent CAGR throughout the forecast period.
Growing demand for smart homes coupled with the rising implementation of connected devices is the key driver of the growth of the residential robotic vacuum cleaner market.
Similarly, another factor impacting the residential robotic vacuum cleaner industry is the decreased time needed for domestic tasks, as robotic vacuum cleaners for homes can accomplish chores like mopping and cleaning quickly.
Employing domestic employees may be too expensive or even illegal in some countries. The robotic vacuum cleaner can resolve this issue by carrying out chores and replacing the need for domestic helpers. The home robotic vacuum cleaners market is set to be penetrated by vacuum cleaners with security features, including warning owners in case of intruders and fires.
People’s propensity for automation is rising due to the growing acceptance of smart homes and smart products, which is a key factor boosting the market for robotic vacuum cleaners.
With the emergence of the generation of tech-savvy consumers, the inclination for technologically advanced products in their functioning and help in streamlining tasks has expanded, especially as they struggle to find time to clean and mop due to their changing lifestyles and busy schedules. Over the projected term, this will impact the market growth for robotic vacuum cleaners.
Various manufacturers are constantly presenting groundbreaking products to grab emerging opportunities in the market. For example, in April 2021, iRobot Corp, the leader in consumer robots, expanded its Roomba robot vacuum lineup with the launch of the new RoombaiSeries products i3 and i3+ across India.
However, factors like shorter battery life, inability to efficiently clean rooms with complicated structures, and higher costs of robotic vacuum cleaners will significantly limit market growth during the forecast period.
