Global Cleaning Robots Market: Snapshot
Perhaps a substantial drive for the cleaning robots market stems from the vast commercialization of robotic vacuum cleaners. Advances in engineering of robotics have further made them reliable, easy-to-operate, and useful in daily cleaning needs particularly in floor cleaning schedules in home as well as industrial settings. Further, strides in commercialization were witnessed in the use of cleaning robots in industrial environments that are characterized by hazardous work. Automation of industrial cleaning processes has stoked the popularity of cleaning robots. Of special significance in the growth of the cleaning robots market is use of new proprietary software, advances made in 3D sensors and cameras, and deft use of artificial intelligence. The transformative potential of cleaning robots in household chores is underpinning the growing potential in the market.
The dynamic shaping the key end-use industry demand has impacted the recent spate of product launches in the cleaning robots market. This is comprehensively analysed in an in-depth study on the market. The analysis also takes a closer look at technological advancements that make cleaning robots smarter.
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Global Cleaning Robots Market: Notable Developments
Over the years, manufacturers of cleaning robots have flourished on the back of sizable funding they have able to secure on advancing the hardware and software. This has expedited the development of autonomous cleaning robots with more functionality and at attractive price points. Particularly, the trend is notable in the advent of new commercial cleaning robots that find applications in airports, malls, warehouses, and universities. The following development is one case in point.
Avidbots, a Canada-based company that has focused long on robotics for commercial cleaning work, announced in early 2019 that it has bagged $23.6 million in Series B funding. The investor round is led by True Ventures, a company showing keen interest in the vast potential of cleaning robots market. Areas of focus will include talent acquisition, engineering of new designs, sales and marketing of novel technologies. With this funding, the company intends to meet a wide range of worldwide demands for cleaning robots. Further, such funding will help it expand its product portfolio.
Numerous other key manufacturers of commercial floor cleaning robots, especially in the U.S., are also in the race to secure venture capital, which they invest in developing their propriety software and hardware.
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Global Cleaning Robots Market: Growth Dynamics
A large degree of momentum in the global cleaning robots market has come from the growing popularity of home robot. According to a non-profit organization, the International Federation of Robotics has projected the market for personal household service robots to surpass $10 bn by 2020-end. This lays a strong groundwork for the evolution of the cleaning robots market.
Over the years, manufacturers have launched cleaning robots with an array of features that make cleaning robots easy to control, such as through the voice command of Alexa. Technological advances have improved the sensing abilities of cleaning robots, thus making it more reliable. Further, adoption of advanced sensors in recent years has also resulted in cleaning robots with better obstacle detection capability.
Venture capital has proved to be vital for driving product developments in industrial automation. Adoption of cloud technologies has helped end users in the cleaning robots market take the advantage of automatic software updates. Emerging new robot vacuum concepts has imparted momentum to research and development in the cleaning robots market.
Global Cleaning Robots Market: Regional Analysis
Some of the key regional markets for cleaning robots are North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. Of these, North America has been showing incredible potential in the global cleaning robots market with demands for technologically-advanced home robotics. Growing inclination of adopting robotics for household cleaning chores in numerous economies of Asia Pacific is also helping expand the potential of the regional market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.