Share of Key Clean Robot Market Players and Impact over the Home Energy Storage Market
/27th January 2020, RENEWABLE MARKET WATCHTM/ The global cleaning robot market size was valued at USD 2.63 billion in 2019 by Renewable Market Watch™ and is anticipated to witness a CAGR of 13.7% by 2025. Major functions of a cleaning robot include determining the position of the area to be cleaned, identifying the shortest path to occupy that position, and cleaning the desired area with the attached vacuum cleaner.
An increase in the use of artificial intelligence allows the robot to identify cleaning areas and distinguish between dust, dirty places and other objects at various spots in homes. The major factors driving the growth of the market are increasing adoption of automation technology for cleaning tasks and the rise in labor costs.
The growing penetration of automation and artificial intelligence in household applications has propelled the demand for cleaning robots. The rise in the number of working men and women in emerging countries has led to a rise in demand for devices that can save time while cleaning the residential areas. Increasing adoption of technologies such as IoT and Home Area Networks (HAN) has enhanced the performance of cleaning robots used in residential applications. Furthermore, increasing penetration of technologies such as barcodes and Radio Frequency Identification (RFID) for self-positioning and localization have propelled the adoption of these systems for industrial and commercial applications.
The residential end-use segment dominated the home clean robot market in 2019 as a result of the rising adoption of floor-cleaning robots and pet hair-cleaning robots. The increased demand for IoT enabled robots for residential applications has led to the growth of the segment. Various government initiatives towards the promotion for the adoption of residential robots such as provision of subsidies on purchase of robotic vacuums bodes well for the growth of the segment. For instance, beginning from July 2019, the South Korean government is providing subsidies to consumers on the purchase of cleaning robots.
Some of the key players in the market are Ecovacs Robotics, Inc.; ILIFE Robotics Technology; iRobot Corporation; LG Electronics; Maytronics; Milagrow Business and Knowledge Solutions (Pvt.) Limited; Neato Robotics, Inc.; Nilfisk Group; Pentair plc; and Samsung Electronics Co., Ltd. Mergers and acquisitions, product launches, and effective collaborations are some of the major strategies adopted by the key players. For instance, in June 2019, iRobot Corporation acquired Root Robotics - a company that provides residential robots. The acquisition enhanced the company’s portfolio and its share in the market.
Market shares for 2019 of the key clean robot market players, according to the Renewable Market Watch™ are iRobot – 69 %, Shark – 5 %, Neato - 4%, Cecotec – 4 % , Ecovacs – 3 %, Panasonic – 3 %, all others – 12%. Companies in the market are exploring opportunities to innovate and launch new products and upgrade earlier systems. These companies are investing heavily in research and development activities. For instance, in December 2018, Neato Robotics launched the new zone cleaning robot - Botvac D7 Connected. The robot uses LiDAR technology to scan and map the efficient course of cleaning the designated room. It also enables buyers to identify trouble zones and target them specifically.
Home energy storage devices store electricity locally, for later consumption. At their heart are batteries, typically lithium-ion or lead-acid, and intelligent software. An energy storage technology, they are downstream relatives of battery-based grid energy storage and support the concept of distributed generation. When paired with on-site generation, they can virtually eliminate blackouts in an off-the-grid lifestyle. For years, many people saw energy storage as a novelty or the preserve of people living off-grid. Now technological developments and the growth of domestic renewable energy mean this an area with big potential. Energy storage works well with the idea of the ‘smart home’. Fast development of the home clean robot market shall have positive impact over the home energy storage market and for the residential solar photovoltaic market as well.
The more information and answers to your questions about European renewable energy market, including energy storage and related content you may read here: Europe Solar Photovoltaic (PV) Power Market Outlook 2019 ÷ 2028 or Europe Net Metering and Self-Consumption Solar PV Market Outlook 2019 ÷ 2028
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