According to Value Market Research, the global Home Care Robotics Market is expected to register a CAGR of 18.7% between 2018-2024 growing from USD 1,985.5 MN in 2017 to USD 6,590.5 MN by 2024. This syndicate report provides informative data and enlightens on the critical aspect of the market such as market size, share, growth, trends and market outlook on a global as well as regional level. In addition to this, the report also provides authentic information that supports the business to achieve their business goal. Further, this report also covers key players with their market share and analyzes the strategic development adopted by the industry players.
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.
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.
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.
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.