Popularity of Robot Vacuum Cleaners During Home Stay... Service Robot Shipments Up 25%

Counterpoint Research Survey Summary
Annual 27% Growth Expected Over the Next 4 Years

[Asia Economy Reporter Cha Min-young] The global shipment volume of service robots, including robot vacuum cleaners, grew by 25% year-on-year last year. This surge was driven by explosive demand for residential use due to COVID-19. The compound annual growth rate (CAGR) for the next four years is also expected to reach 27%.

According to recent IoT service research released by global market research firm Counterpoint on the 9th, the shipment volume of the global consumer service robot market in 2021 grew by 25% compared to the previous year, and the average annual growth rate over the next four years is expected to reach 27%.

Analyst Anshika Jain noted, "Robot vacuum cleaners in the form of vacuums dominated the robot industry, accounting for more than two-thirds of the entire consumer service robot market," adding, "COVID-19 had a positive impact on the robot vacuum cleaner industry, increasing demand from residential users."

She further explained, "With advancements in artificial intelligence (AI) technology, the prices of components and software have decreased, leading to lower robot prices," and "Improvements in technologies such as voice recognition and computer vision have also helped promote growth." Favorable policies, including government funding support, were also observed to influence the revitalization of the robot sector.

Vice President Peter Richardson stated, "The shipment volume of the consumer service robot market is expected to grow at an average annual rate of 27% from 2021 to 2025," and "By 2025, the personal and education sectors are expected to hold the highest share at 54%." The main sales drivers for personal and education sectors include elderly care, solving social isolation, personal entertainment, and child education.

He also predicted that as robot prices gradually decrease, accessibility will improve. Richardson said, "The market size for personal and education robots is expected to exceed $450 million by 2025," adding, "Significant growth is expected to continue even after 2025."