The home care/lawn care robotics market will surpass US$2.9 billion by 2019, up from US$1.2 billion in 2014, according to a new study published by ABI Research (www.abiresearch.com). Approximately seven million robotic home care/lawn care products will be sold in 2019, up from 3.4 million in 2014, representing a CAGR [compound annual growth rate] of 15.6%, notes the research group.
“The home care/lawn care sector is the largest, fastest growing, and most dynamic component of the overall consumer robotics marketplace, and this will remain so for the foreseeable future,” says Dan Kara, practice director, Robotics at ABI Research. “Moreover, the addressable markets for these devices are substantial, penetration levels are nowhere near saturation, and in some cases markets are virtually untouched. New advances in low-cost, highly functional, consumer class enabling technology, coupled with greater levels of performance and autonomy, insure ongoing innovation and price points that support widespread adoption.”
The home care/lawn care market will demonstrate continued, solid growth for both revenue and units sold between 2014 and 2019. Revenue growth parallels the unit figures which is indicative of a relatively small increase in ASP [average selling price] across product classes, adds Kara.