The global robotic lawn mower market is expected to proliferate at a CAGR of 11.07% and 12.78% in terms of value and volume respectively during the forecast period 2019-2027
NEW YORK, April 2, 2019 /PRNewswire/ -- KEY FINDINGS
The global robotic lawn mower market is expected to proliferate at a CAGR of 11.07% and 12.78% in terms of value and volume respectively during the forecast period 2019-2027, as per the market analysis carried out by Inkwood Research.
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The elimination of safety hazards related to traditional lawn mowers and the reduction of time spent on household activities are mainly responsible for the market growth.The robotic lawn mowers market is increasingly getting commoditized with many low-cost models being introduced in the market regularly in each year.
Therefore, vendors are focusing on futuristic products.
MARKET INSIGHTS
A smart robotic lawn mower is characterized by intelligent visual navigation and its ability to integrate with the internet and control through a smartphone application. It is fitted with a navigation system that enables the device to track the area required to be mowed, cutting equipment that is the main functional unit of the device, two-way interactions with the user, and an efficient energy management system.
The global robotic lawn mower market segments include technology and end-user.The raw materials constitute the single largest cost component in the robotic lawn mower market.
So fluctuations in their prices can severely impact the market growth for the robotic lawn mowers. But, increased penetration of internet services, improved economy, and upgrading of purchase and delivery options with the emergence of m-commerce can pave the way for better access to the variety of options the marker provides to its customer base across the world.
REGIONAL INSIGHTS
The global robotic lawn mower market is geographically segmented into a few major regions, namely, North America, Europe, Asia Pacific and the remaining countries forming the Rest of World segment.
The Europe region was the highest contributor to the global market for robotic lawn mowers in 2018. The major reason for this growth in demand is the introduction of new variants of robotic lawn mowers in the market by the vendors, which had been technologically more advanced than their predecessors that were accepted by end-users at large.
COMPETITIVE INSIGHTS
MTD Products Inc., LG Electronics, Deere & Company, Robert Bosch GmbH, Honda Motor Co., Ltd., Husqvarna Group, Hitachi, Ltd., the Kobi Company, Stiga S.P.A., and Zucchetti Centro Sistemi S.P.A. are the major companies contributing to the market advancement, which have been profiled in the report.
These companies are using organic and inorganic strategies for growth.For instance, in 2018, Deere had launched multiple models, namely, the John Deere 6080A, 6500A, and 6700A PrecisionCut fairway mowers.
Product launches can help any company to penetrate further into the consumer base and expand its reach.
Companies mentioned
1. DEERE & COMPANY
2. HITACHI, LTD.
3. HONDA MOTOR CO., LTD.
4. HUSQVARNA GROUP
5. LG ELECTRONICS
6. MTD PRODUCTS INC.
7. ROBERT BOSCH GMBH
8. STIGA S.P.A
9. THE KOBI COMPANY
10. ZUCCHETTI CENTRO SISTEMI S.P.A
Read the full report: https://www.reportlinker.com/p05762023/?utm_source=PRN
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