Asia Pacific region earned largest market share
The global Robotic Vacuum Cleaner market size is expected to reach USD 46.75 billion by 2027 on account of the increasing adoption of automated products. According to a published report by Fortune Business Insights, the value of this market stood at USD 8.19 billion in 2019. The market is likely to exhibit a CAGR of 24.4% CAGR during the forecast period set between 2020 and 2027.
Among all regions, Asia Pacific generated a revenue of USD 2.60 billion in 2019 and earned the largest Robotic Vacuum Cleaner market share. This is accountable to the continuous launch of innovative technologies especially from Japan and the addition of new players into the regional Robotic Vacuum Cleaner Market.
On the other side, the market in North America will showcase notable growth in the forecast years on account of the increasing adoption of technologically advanced vacuum cleaners by the residential sector. Furthermore, the market in Europe will also generate significant revenue in the coming years on account of the increasing popularity of cordless vacuum cleaners and their light-weight nature.
Various factors are responsible for contributing to the global robotics vacuum cleaners market growth. These include the introduction of industrial robots, increasing popularity of Robotic Vacuum Cleaner, and rising demand from industries such as healthcare, automotive, manufacturing, and others. Additionally, introduction of latest technology into vacuum cleaners such as adjustable suction power, smart navigation system, intelligent software programming, and others will also add a boost to the growth of the market.