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A cordless vacuum cleaners are self-propelling, floor cleaning devices capable of determining its own trajectory in cleaning. The market for cordless vacuum cleaners is gaining impetus and it is anticipated to show robust growth in the coming years owing to increasing smart homes buildings, rising concerns for energy consumption and others. Also, introduction of intitutive technologies mainly aritificial intelligence (AI), machine learning, internet of things (IoT), predictive analysis and others are contributing to this market. For instance, in January, 2019, ECOVACS launches its new robotic vacuum cleaner capable of recognizing the stuff on the floor through artificial intelligence and even maps its own charging station. Apart from innovation, key vendors are focusing on expanding its geogrpahical presence across developed and developing countries to increase its sales in unattended market and gain competitive edge in the vacuum cleaners business. Similarly, online suppliers are also also playing an active role in expansion of these business. For instance, in June 2020, Flipkart launched ROIDMI cordless vacuum cleaner to tap the potential of the Indian Market. However, the outbreak of COVID-19 eventually overturned the continuing trends owing to dampened supply chain ecosystem, higher unemployment rates, cancellation or delay in smart cities and homes constructions, lockdown of production and vendors facilities and others.
Key Market Driver -
• Evolution of various technologies embedded in cordless vacuum cleaners. • Drive growth through leveraging existing B2C platform in online sales and digital marketing to connect with consumers directly
Key Market Restraint -
• High upfront costs at initial stage is hindering market growth.
Some of the key competitors in the cordless vacuum cleaners market includes SAMSUNG, Robert Bosch Power Tools GmbH, iRobot Corporation, Makita U.S.A., Dyson, BISSELL, BEKO, IPC Tools S.p.A., AB Electrolux, Neato Robotics, Inc. and others.
Europe holds the highest share in the cordless vacuum cleaners market owing to presence of major manufacturers operating in this business segment, rising commercial and residential projects, focused investments in new products and technologies including connectivity and sustainable solutions. Further, government initiatives to reduce energy consumption is another factor anticipated to drive the market.
North America and Asia Pacific region is anticipated to grow at an higher rate in the coming years owing to presence of organized and unorganized players operating majorly in China, South Korea, India and other countries. In addition to that, players are emphasizing to collaborate with other startups and emerging vendors to gain a competitive edge in the fierce competition. For instance, in January 2020, SHARKNINJA announced a strategic partnership with QFEELTECH in order to position and navigate technology of smart home cleaning robot.
The adoption of cordless vacuum cleaners across Middle East and Africa and Latin America region is anticipated to show moderate growth owing to rising commercial and residential projects, notable rise in consumer interest in smart home appliances and rising concern to reduce energy consumption.
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