Household Robots Market

Market Leader - Household Robots Market

The global household robots market is projected 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 from 2022 to 2027. The growth of this market is driven by factors such as the Increasing demand for robots in the domestic segment, growing demand for autonomous robots, rising use of IoT in robots for cost-effective predictive maintenance, and increasing government initiatives for the development of robotic technologies. However, legal safety and data protection regulations restrain the growth of the household robots market.

Focus on improving the endurance capability of robots and application of service robots for elderly assistance create opportunities for the household robots market. Some of the key companies in the household robots market are iRobot Corporation (US), Ecovacs Robotics Co., Ltd. (China), Xiaomi Corporation (China), Maytronics, Ltd (Israel), Samsung Electronics Co., Ltd. (South Korea), Neato robotics, Inc. (US), Dyson Limited (Singapore), LG Electronics Inc. (South Korea), LEGO A/S (Denmark), Hayward Holdings, Inc. (US), etc.

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iRobot Corporation was founded by the Massachusetts Institute of Technology roboticists with the vision of making practical robots a reality. The company has sold more than 40 million robots worldwide by 2021. It operates through 1 operating segment, and its key products include Roomba Robot Vacuums, Braava jet Robot Mops, iRobot Bundles, Aeris by iRobot Air Purifiers, iRobot Handheld Vacuum, and iRobot Education Robots. Its products are sold through distributors and retail sales channels, and online stores.

The company has developed some important robots and has a rich history steeped in innovation. Its robots have revealed mysteries of the Great Pyramid of Giza, found harmful subsea oil in the Gulf of Mexico, and saved thousands of lives in areas of conflict and crisis around the globe. It has inspired the development of the first Micro Rovers used by NASA, deployed the first ground robots used by the US Forces in conflict, brought the first self-navigating FDA-approved remote presence robots to hospitals, and introduced the first practical home robot with Roomba, forging a path for an entirely new category in home cleaning.

Some of the key subsidiaries of iRobot Corporation are Evolution Robotics (US), iRobot Japan G.K. (Japan), Aeris Health Inc. (Switzerland), Aeris Cleantec AG (Switzerland), Guangzhou iRobot Technology Consulting Company Limited (China), iRobot Italia S.r.l. (Italy), iRobot UK Ltd. (UK), iRobot (Shanghai) Ltd (China), and Aeris Beijing, Ltd. (China).

The company has a presence in the Americas, Europe, Middle East, and Africa, and Asia Pacific with offices in Pasadena, California, London, Lyon, Vienna, Brussels, Lisbon, Madrid, Hamburg, Zwolle, Guangzhou, Hong Kong, Shanghai, Tokyo, and Osaka.

Ecovacs Robotics Co., Ltd. is best known for developing in-home robotic appliances. It was founded in 1998 as an original equipment manufacturer for vacuum cleaners under the name TEK Electrical Company. The company rebranded in late 2006 as an independent manufacturer of robotic devices for home cleaning.

Since 2006, Ecovacs Robotics Co., Ltd. has invested in developing more than 20 new robotic products each year. Its lab facilities in the R&D center are strategically co-located alongside the manufacturing plant to speed time between lab and marketplace. Currently, its R&D team continues to grow, with a team of nearly 1,000 engineers and specialists in place. The company today holds over 1200 patents in China and overseas.

Ecovacs Robotics Co., Ltd. specializes in manufacturing different types of products, such as robotic household cleaners, window cleaning robots, service robots, air purifying robots, vacuuming robots, floor cleaning robots, and home automation. Its product line pertaining to home robotics is segmented into 3 categories: DEEBOT floor cleaner, WINBOT window cleaner, and ATMOBOT mobile air cleaner and humidifier.

The company has expanded from its home market in China to establish strong sales subsidiaries in Japan, Germany, and the US. In addition, the company has expanded sales into several other major markets and regions, including Canada, UK, France, Italy, Spain, Switzerland, Poland, Czech Republic, Korea, Singapore, Malaysia, Thailand, etc. It serves its customers in more than 145 countries and regions around the world.

Xiaomi Corporation designs, manufactures, and sells smartphones, hardware, and software products. It is one of the Fortune Global 500 companies that was the youngest to enter the Global 500 list. It has been listed on the Main Board of the Hong Kong Stock Exchange since July 2018. The company specializes in smart homes, mobile phones, computers, smart hardware, Mi TVs, Mi Box, and internet. It operates through 4 operating segments—smartphones, IoT and lifestyle products, internet services, and others. The smartphone segment caters to more than 50% of the total company revenue.

A substantial investment in R&D has led Xiaomi Corporation to provide customers with new and differential technology. The company provides household robots under the IoT and lifestyle products business segment.

It is active in Mainland China, India, Indonesia, and Western Europe. Mainland China contributes ~46% of the company’s total revenue. It is a global provider and sells its products in more than 100 countries.

Related Reports:

Household Robots Market by Offering (Products, Services), Type (Domestic, Entertainment & Leisure), Distribution Channel (Online, Offline), Application (Vacuuming, Lawn Mowing, Pool Cleaning) and Geography – Global Forecast to 2027

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Household Robots Market Size,  Share & Growth Report
Report Code
SE 7203
RI Published ON
9/15/2022
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