Nov 21, 2019   SOURCE: PR NewsWire

The Global Floor Cleaning Robot Market is Expected to Witness a CAGR of Above 18.4% During the Forecast Period 2019-2025

BANGALORE, India, Nov. 21, 2019 /PRNewswire/ -- With its recently published study "Global Floor Cleaning Robot Market - Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025", Infoholic Research forecasts that the global market for floor cleaning robot is anticipated to witness a significant growth owing to below-mentioned factors:

(1) Rising preference for connected home appliances

(2) Changing lifestyle and shifting customer needs

(3) Increasing labor cost tied with growing preference for service robots

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The concept of floor cleaning robots is in the introductory stage of the adoption curve. Any new home appliances introduced in the market are generally viewed in two aspects from the consumer side: "Necessity" and "Luxury". In the past, the introduction of washers and refrigerators was initially viewed as a luxury appliance. Later, these products became mainstream due to intensive marketing efforts and increased customer awareness regarding the potential benefits in terms of power, time efficiency, and return on investment. Following the same analogy, the penetration of domestic service robots is anticipated to increase in the coming years.

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Moreover, an increase in the number of nuclear families is changing the functional aspect of how the house operates. In the past, men were the only breadwinners of the house; but due to rising economic stress, increasing aspiration toward a better standard of living, and education attainment of women, the participation of women as an employed member in the family is increasing across regions. These ongoing trends in the modern nuclear family have increased the demand for domestic service robots (i.e., floor cleaning robots) to reduce the efforts of maintaining the house. These robots are designed to cater to the needs of the modern nuclear family, which eliminates the dependency on maids and reduces human efforts of maintaining the house.

Global floor cleaning robot market is expected to witness a CAGR of above 18.4% during the forecast period 2019-2025: https://www.infoholicresearch.com/images/rdimages/floor-cleaning-robot-market.jpg

Based on the robot type, the global floor cleaning robot market is segmented into robotic vacuum cleaner and robotic mops & hybrid robotic floor cleaner. Robotic vacuum cleaner was the dominant segment in 2018 and is projected to maintain its market dominance throughout the forecast period. This is mainly due to the cost-performance ratio and rising preference for robotic floor cleaners equipped to remove even the tiny particles that lead to health issues. Robotic mops & hybrid robotic floor cleaner is anticipated to be the fastest-growing segment, i.e., at a CAGR of 23.8%, during the forecast period. Also, this segment is expected to create an incremental opportunity of more than $1 billion between 2018 and 2025.

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Based on the sales channel, the global floor cleaning robot market is segmented into brick & mortar and eCommerce. eCommerce is identified as the fastest-growing segment, i.e., at a CAGR of 20.3%, during the forecast period 2019-2025. The growth of this segment is driven by increasing customer reliance on online platforms for attributes, such as fast delivery with exclusive deals when compared to offline retail stores. Moreover, online channels play a vital role in today's customer purchase journey, which helps customers in making better and faster decisions.

Regionally, the global floor cleaning robot market is segmented into Asia Pacific, Americas, Europe, and Middle East & Africa. Asia Pacific dominates the global floor cleaning robot market, contributing 35% share, and is expected to remain dominant during the forecast period. This is mainly due to China's dominance in floor cleaning robot penetration and favorable demographics, i.e., expanding nuclear families along with increasing disposable income across various countries in the Asia Pacific region.

"Floor cleaning robots and other domestic service robots are on the verge of becoming an integral part of modern smart homes." - Delsingh Bright, Sr. Research Analyst, Infoholic Research

Global Floor Cleaning Robot Market Segmentation:

    --  Global Floor Cleaning Robot Market, By Robot Type
        --  Robotic Vacuum Cleaner
        --  Robotic Mops & Hybrid Robotic Floor Cleaner
    --  Global Floor Cleaning Robot Market, By Sales Channel
        --  Brick and Mortar
        --  eCommerce
    --  Global Floor Cleaning Robot Market, By Geography
        --  Asia Pacific - China, Japan, South Korea, Australia, Singapore, and
            Others
        --  Americas - USA, Canada, Mexico, and Others
        --  Europe - Germany, France, UK, Spain, Italy, Belgium, Poland, and
            Others
        --  Middle East and Africa (MEA) - Israel, UAE, South Africa, and Others

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About Infoholic Research

Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche technologies. Founded in 2014, we are headquartered in India with an office in the US and with consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visit www.infoholicresearch.com.

CONTACT:
Kathakali
Infoholic Research LLP
+91-080-461-51400, +91-7276057863
kathakali@infoholicresearch.com

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SOURCE Infoholic Research LLP