Global Household Robots Market: Overview
Recent innovations have created ample growth opportunities for the already existing companies as well as new market entrants who desire to make it big in the global household robots market. However, the market for household robots is still in the nascent stage and is anticipated to grow manifold in the years to come.
An upcoming Transparency Market Research (TMR) report on global household robot market elucidates on every aspect critical for growth in the market. The report’s details like key trends, challenges, opportunities, geographical analysis, and competitive dynamics are key for both existing and upcoming players.
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Global Household Robots Market: Notable Developments
Here are some vital market developments that may shape the growth strategies for companies operating in the global household robots market in the years to come.
- In January 2019, iRobot made an announcement of its foray into the market space of robotic lawn mower with Terra. Terra comes with advanced ground mapping and navigation technology. However, the initial rollout of the robotic lawn mower will be limited within Germany.
- In October 2018, iRobot entered into collaboration with Google. Integration of Google’s AI assistant with various robotic vacuums of iRobots for improved functioning. Such integration allows users to control their robots through voice commands.
- Last year, Neato introduced 2 new robot vacuums; Botvac D6 connected and Botvac D4 Connected with LaserSmart technology. Those two robots made optimal usage of the navigation capability of a robot.
iLife Innovation, Hayward Industries, iRobot, Neato, BSH Hausgeräte, Blue Frog Robotics are few of the leading players operating in the global household robots market.
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Global Household Robots Market: Key Trends
The global household robots market is likely to gain traction due to the following factors:
High Insulation Value of Household Robots Boosts its Demand in Various Industries
So exactly what all tasks these household robots do? We probably have heard about called three D's - Dull, Dirty and Dangerous. These jobs are usually given to robots. Maybe household chores are not dangerous but are rather dull and dirty.
Following are some of the tasks that have been assigned to household robots
- Robotic vacuum cleaners are the most common household robots for general public. As the name suggests, these household robots perform the job of a vacuum cleaner.
- Furthermore, there are robots that are designed to sweep floors such as the iRobot Dirt Dog. Robots that can also wash floors like iRobot Scooba.
- Robotic pool cleaners are meant to clean the pool, right from the pool floor to waterline. In addition to cleaning, it also filters the water for leaves, dirt, and other things. This way pool maintenance is made easy and nearly hassle free.
In addition to the varied tasks that it does, technological advancements are making household robots to become more usable and practical with each passing day. This is escalating the acceptance of such products and demand for household robots. Growing consumer demand for autonomous robotic technology together with reduced human intervention is another factor that is driving the growth of global household robots market.
Global Household Robots Market: Geographical Analysis
In terms of geography, Asia Pacific is expected to account for lion’s share of the global household robots market during the forecast timeframe. Expansion of the market in the Asia Pacific region is strongly related to the rising consumer demand in the region. Increased investment in household robots, particularly in countries such as South Korea, Japan, and China is driving the household robots market in this region. China is estimated to exhibit highest growth as compared with other nations in Asia Pacific.
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.
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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?
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