Home Care Robotic market is mainly growing on the ground of rising demand for the wireless product along with the advancement in technology in terms of smart homecare system. Also, the growing adoption of the smart home, improving the standard of living and ongoing urbanization around the world is expected to provide enormous growth to the market. Moreover, rising geriatric population base coupled with government support is another factor fueling the market growth. As per the latest report added by Value Market Research, Global Home Care Robotic Market was valued at USD 1,985.5 MN in 2017 and is projected to reach USD 6,590.5 MN by 2024, with a CAGR of 18.7%.

FLOOR CARE PRODUCT TO GENERATE THE HIGHEST DEMAND AMONG OTHER SEGMENTS

This type of homecare robot takes care of various house chores like vacuuming, mopping, and cleaning. Owing to their vast application in-home care they are likely to dominate the segment and are expected to bring USD XX.X MN by end of 2024. Moreover, the growth of the segment is also accounted for the rising innovation in technology in terms of artificial intelligence system in order to increase the performance level of the system.



EUROPE ACCOUNTED FOR THE HIGHEST MARKET SHARE IN GLOBAL HOMECARE ROBOTIC

Europe is expected to continue its dominance over the forecast period and it is estimated to reach USD XX.X MN by end of 2024. The growth is mainly attributed to the growing popularity of robotic system along with the integration of artificial intelligence is likely to fuel the regional market growth. Also, the manufacturer is developing cost-efficient and emotional therapy to meet the growing demand is again boosting the growth of the market.



MAJOR PLAYERS IN THE MARKET:

Bissell Homecare Inc., iRobot Corporation, Ecovacs Robotics and Others. This type of homecare robot takes care of various house chores like vacuuming, mopping, and cleaning. Owing to their vast application in-home care they are likely to dominate the segment and are expected to bring USD XX.X MN by end of 2024. Moreover, the growth of the segment is also accounted for the rising innovation in technology in terms of artificial intelligence system in order to increase the performance level of the system.Europe is expected to continue its dominance over the forecast period and it is estimated to reach USD XX.X MN by end of 2024. The growth is mainly attributed to the growing popularity of robotic system along with the integration of artificial intelligence is likely to fuel the regional market growth. Also, the manufacturer is developing cost-efficient and emotional therapy to meet the growing demand is again boosting the growth of the market.Bissell Homecare Inc., iRobot Corporation, Ecovacs Robotics and Others.

As per this study the Global Home Care Robotics Market was valued USD X,XXX.X MN (by revenue) in 2019 and is anticipated to reach USD X,XXX.X MN by 2026 with a CAGR of XX.X%.



Home care robotics is a broad sector and include a various application focused on single tasks, such as floor care, lawn care, and pool care. The vast majority of these are floor care robots, which include vacuum cleaners, floor washers, and hybrid products. Robotic vacuum cleaners still leading the floor care robotics segment. Owing to its dominance in robotic vacuum cleaners, iRobot is still the overall home care robotics market leader. Today, Wi-Fi is promptly becoming a standard technology in home care robots, starting with floor cleaners. With the advanced technology, wireless connectivity allows robot systems to be monitored and controlled remotely, but in the years to come, mobility, their connectivity, sensors, and functionality, such as machine vision, will expand their capabilities as part of the smart home.



Market Dynamics



Growing demand for the wireless product along with the innovation in technology is the major factor that raising the demand for home care robotics. Moreover, adoption of the smart home, improving the standard of living and ongoing urbanization across the globe is expected to provide enormous growth to the market. Moreover, the rising elderly population in Europe and North America coupled with government support and finding is another factor serving as key drivers of the market. However, the high cost of R & D along with the issues associated with the battery is expected to limit the market growth. Nevertheless, rising Wi-Fi connectivity across the globe is projected to offer new opportunity growth to the market.



This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of home care robotics.



Market Segmentation



The broad home care robotics market has been sub-grouped into the product. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.



By Product Market Share 2019







By Product Floor Care Vacuum Cleaner Floor Washer Hybrid Product

Lawn Care

Pool Care

Miscellaneous

Regional Analysis



Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for home care robotics in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.



Europe Home Care Robotics Market By Revenue (USD MN)







The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the home care robotics market includes iRobot Corporation, Bissell Homecare, Inc., Ecovacs Robotics and Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.



Major Company Players Market Share







METHODOLOGY:



A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand. Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for home care robotics in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the home care robotics market includes iRobot Corporation, Bissell Homecare, Inc., Ecovacs Robotics and Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.