Research N Reports has released their 126-page report on the robotic pool cleaner market in the United States in 2017. The report takes an in-depth look at the robotic pool cleaner market with a focus on the top companies, applications and markets in the industry.
The report is broken down into geography to analyze, in-depth, the regions which are expected to have the highest level of growth.
An additional report, providing projections through 2023, finds that the robotic pool cleaner market will have a cumulative revenue of $3.79 through this six-year span. Adoption of robotic pool cleaners is expected to increase in both the residential and commercial sectors.
Penetration of the technology is expected to increase significantly in commercial settings in an effort to improve efficiency and time spent on pool cleaning. Key vendors in the industry, which are expected to experience the most growth include iRobot, Hayward, Waterco, Zodiac Pool Solutions and Maytronics.
Minimal maintenance costs are noted as the key driver in the industry’s growth. Robotic pool cleaners can be deployed with minimal overhead. Substitutes in the industry, such as full pool cleaning methods, are the biggest threat to the robotic pool cleaning industry.
Advancements in technology are expected to fuel the industry’s growth in 2018.
Residential robotic vacuum cleaners, which also includes cleaning gutters, pools, lawns and windows, are expected to increase by a CAGR of 8.9% by 2023. Europe’s quick adoption of the technology is a key driver behind the 8.9% projected growth.
Residential robotic vacuum cleaner market values are expected to achieve steady growth, according to a separate report. The report, following the residential industry specifically, values the residential sector at $1.5 billion with expectations of continued growth. Indoor air quality and pollution management are noted as a major concern for consumers.
The concerns are expected to fuel the industry, as robotic vacuums continue to advance with the addition of HEPA filters.
Market growth is expected to increase as companies spend more on research and development in the industry. UV sterilization is a key development mentioned specifically in the report. Stair-climbing robots are also seen as a major opportunity in the industry.
Adaptive navigation is also on the rise, allowing cleaners to navigate obstacles and learn from past mistakes. iRobot has introduced advanced navigation in their cleaners that allow for connected app control and visual localization. Advanced efficiency on carpets will also be a key focus for companies going in 2018.
iRobot, a leading provider of robotic cleaners, experienced a stock dip after Black Friday, as the company was forced to provide their products at a major discount to consumers. The company’s strong growth over the last few years include sales rising 35% in 2016 as consumers flock to robotic cleaners.
The company’s increased sales were attributed to a higher adoption rate in the industry as well as increased promotions and advertising.
iRobot’s data demonstrates the rising demand and adoption in the industry, with the potential for higher sales thanks to China’s middle class increasing. The middle class is now looking for domestic cleaning robots to make their daily cleaning less tedious.