Household Robots Market

iRobot (US) and Neato (US) are Leading Players in the Household Robots Market

The household robots market is expected to grow from USD 3.3 billion in 2019 to USD 9.1 billion by 2024, at a CAGR of 22.4%. Growing demand for automation of mundane tasks, such as cleaning and mowing, is one of the key factors driving the growth of the household robots market. Increased practicality and usability of household robots due to autonomous operation and less supervision from users is another driving factor for the market.

Although the household robots market is growing, it is fairly competitive owing to the presence of several regional and global players. Key strategies adopted by these players to enhance their product portfolios, increase their market share, and expand their presence in the market include product launches and collaborations. Many market players adopted product launches as a key business strategy. For instance, in January 2019, iRobot (US) ventured into the lawn mowing marketspace for the first time, with its robotic lawn mower Terra with state-of-the-art mapping and navigation technology. In April 2018, Ecovacs (China) launched 3 new vacuum cleaners that can be controlled through integrated voice assistants. Apart from this, players have also adopted collaboration strategies to enhance their products with greater functionality. For instance, in October 2018, iRobot (US) announced a collaboration with Google (US) with the aim of integrating its robots with Google’s own AI assistant to enable users to give voice commands to robots using various Google products.

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iRobot (US) is an established company with years of experience in the robotic vacuum business. Before February 2016, the company had designed robots for space exploration, military applications, and disaster reconnaissance. After the divestment of its defense and security robots business, the company has been focusing solely on consumer robots for various purposes, such as vacuum cleaning, floor scrubbing, floor mopping, pool cleaning, and outdoor maintenance through its Consumer Products segment. The company has already sold more than 20 million robots worldwide—with vacuum robots and mopping robots accounting for a shipment of 3,193 and 503, respectively, in 2017. Its products are sold through the distributor and retail sales channels, and online stores. It has offices in Hong Kong, India, China, the US, and the UK. Subsidiaries of iRobot include iRobot Holdings LLC (US), Puresight Systems Pvt Ltd. (India), and Guangzhou iRobot Technology Consulting Company Limited (China). Amazon, Kohl’s, Bloomingdale’s, and Lowe’s are a few key retailers and resellers of iRobot Corporation in the US, while, Amazon.ca, Walmart, Maison Lipari, and Super Vacs Inc. are key retailers and resellers of iRobot in Canada.

Neato (US) is one of the key players in the household robots market. It is primarily engaged in the manufacturing and selling of automated robotic vacuum cleaners for floor cleaning under the Botvac product line-up. The company focuses on introducing evolutionary features to its line-up. It includes features such as laser navigation, wireless connectivity, smart watch support, and app connectivity in its models, which help it to differentiate itself from others. In addition, the company also pioneered in its unique D-shaped robotic vacuum to clean corners more effectively. The designing of these robots is done in the US, while contract manufacturing is done in China. Neato was acquired by Vorwerk (Germany) in September 2017. However, the company operates within the Vorwerk Group as a wholly owned independent business unit, with its own brand identity with no changes in the leadership or daily operations. Vorwerk Group is the parent company of Neato Robotics, while Neato B.V. (Netherlands) and Neato Srl (Italy) are the subsidiaries of the company.

Related Reports:

Household Robots Market by Offering (Products, Services), Type (Domestic, Entertainment & Leisure), Application (Vacuuming, Lawn Mowing, Companionship, Elderly and Handicap Assistance, Robot Toys and Hobby Systems), and Geography - Global Forecast to 2024

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Report Code
SE 7203
RI Published ON
6/28/2019
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