Home Household machines Household Robots Market Worth $19.3 Billion by 2027 – Exclusive Report by MarketsandMarkets™

Household Robots Market Worth $19.3 Billion by 2027 – Exclusive Report by MarketsandMarkets™

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MarketsandMarkets Research Pvt. ltd.

Chicago, Oct. 11, 2022 (GLOBE NEWSWIRE) — Household robot market is expected to grow from USD 9.2 billion in 2022 to USD 19.3 billion by 2027, at a CAGR of 16.0% during the forecast period of 2022 to 2027, according to a new report of MarketsandMarkets™. The growth of this market is driven by growing demand for robots in the domestic segment, growing demand for autonomous robots, increase in government initiatives for development of robotic technologies, and growing use of IoT in robots for cost-effective predictive maintenance.

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Pool cleaning applications held the second largest household robot market share in 2021

Pool cleaning applications held the second largest household robot market share in 2021. A pool cleaner robot is a highly advanced device for cleaning the swimming pool and is considered a sought-after product in the market. Fast, reliable and simple features are important factors driving the demand for products in the industry. The growth avenues of the global market are attributed to increasing disposable income across the world, which further increases their spending abilities in leisure activities, such as swimming and other travel related. These activities encourage increased participation in swimming and thus increase the requirement for equipment and certain other items needed to clean the pool.

Household robot segment will hold a larger market during the forecast period

The household robots include 4 applications: vacuuming, mowing the lawn, cleaning the swimming pool and cleaning the windows. The suction application holds the largest household robot market share. The growth of the household robot market can be attributed to the popularity of products such as robotic vacuum cleaners, as well as growing consumer awareness and acceptance of indoor and outdoor smart home appliances. Technological improvements in household robots, such as area mapping and voice assistant integration, coupled with the practical benefits of automating household chores, are enabling them to capture a greater market share.

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North America accounts for the second largest market share of the household robot market over the forecast period

The North American region held the second largest household robot market share in 2021 by value. This can be attributed primarily to the popularity and sales of robot vacuums and lawn mowers in the United States and Canada. The influx of IoT and the adoption of autonomous technologies are strong in this region, helping the household robot market to grow rapidly.

Some of the leading companies in the home robot market are iRobot Corporation (USA), Ecovacs Robotics Co., Ltd. (China), Xiaomi Corporation (China), Maytronics, Ltd. (Israel), Samsung Electronics Co., Ltd. (South Korea), Neato robotics, Inc. (USA), Dyson Limited (Singapore), LG Electronics Inc. (South Korea), LEGO A/S (Denmark), Hayward Holdings, Inc. (USA ), etc.

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