Technological advancements and rapid penetration of AI have remained instrumental for robust sales of robotic lawn mowers, as they have become more efficient, in terms of cost and operation. Increasing dependence on automation in the commercial industry to lower operating costs along with growing use of domestic robots for residential applications are the key aspects projected to boost the robotic lawn mower market growth during the forecast period (2019-2029)
As per FMI’s recent market research, the robotic lawn mower market is projected to grow at 12.5% CAGR and reach a valuation of US$ 2 Bn by the end of 2029.
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Key Takeaways of the Robotic Lawn Mower Market Study
- Sales of robotic lawnmowers are projected to stay concentrated on residential end use; while adoption in the commercial sector is anticipated to see significant growth over the forecast period.
- Growth of e-Commerce industry worldwide directly multiplies a healthy outlook for manufacturers to distribute their robotic lawn mowers via retail partners/online channels such as e-bay, Amazon, The Home Depot, and Alibaba.
- Demand from the Europe-based consumer market remains strong and shows a remarkable growth prospect, as the regional market is far from saturation.
- Bluetooth and GPS-enabled robotic lawnmowers are potential investment area for manufacturers. Numerous voice interactions are additionally being offered in upcoming connected robotic lawnmowers.
“There is substantial potency in the long-run to the extent that robotic lawn mowers are related for lawns in parks, hotels, sports fields, and commercial areas. Therefore, companies in the market are placing themselves to come in the commercial/professional market where necessities for reliability and technology are even higher.”
Market Players Remain Glued to Residential Sector
The residential sector directs in the consumption of robotic lawnmowers, as well as will bring forth close to 60% of the overall returns to shareholders. Enhanced expenditure on exercises – garden parties, backyard cookouts and beautification, and landscaping, together with the requirement to spare time on lawn maintenance exercises, are boosting the implementation of robotic lawn mowers in the residential sector. In the recent past, the commercial sector has been steadfastly disposing of automation so as to attain operational competence. Robotic lawn mower market participants are taking advantage of this prospect to come across fresh revenue lines.
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Europe and North America to Take Maximum Value Share
Europe and North America would keep on engaging stakeholders in the market for robotic lawn mower during the estimated period. These regions, over the past few decades, have been a testing ground for robotic technology, as well as procure close to three-fourth of overall market revenue, jointly. FMI’s research moreover reveals that the U.S. market constitutes the most worthwhile valuation gaining prospects. Whereas, these developed regions are demonstrating substantial development prospects, market participants are additionally turning to South East Asia and Pacific for stronger foothold.
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