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The South Korea robot vacuum cleaner market is expected to grow at a CAGR of 14.3% between 2023 and 2028. The robot vacuum cleaner market is anticipated to be majorly driven by hectic lifestyles, high-tech 5G infrastructure, and dependence on technology.
Robot vacuum cleaners, also known as robovac, are either self-driven or remote-controlled vacuum cleaners. The cleaning system has various features such as sensors, cameras, programmable controllers and more. The recent models are equipped with object identification, voice-control features, better mapping, and pet care, among others.
IoT smart homes aim to automatically adapt to a homeowner's preferences by learning from and adjusting to a person's or family's way of life. A lot of the connected gadgets found in smart home apartments, in particular, use machine learning, a type of artificial intelligence, to analyse a homeowner's living habits and recommend more effective methods to operate household equipment like air conditioners and humidifiers, among others. With the growing trend of smart homes in the country, electronic companies are investing in the IoT and artificial intelligence leading to the growth of the home automation market. Features such as 3-D cameras, voice control, advanced sensors, pet care, and elderly care augment the robot industry.
During the early 2000s, South Korea constantly set new, measurable national goals, examined market impediments, and then created and put into effect policies meant to encourage competition and utilisation. South Korea has effectively achieved ubiquitous fibre connection in just a few years. In contrast, in the United States, the infrastructure for fibre to the home ranges from 20% to 30%. Furthermore, South Korea's 5G infrastructure has enabled it to surpass the United States' 5G capabilities. Hence, access to 5G internet connectivity and smartphones lets consumers control the robot vacuum cleaner from their phones. Moreover, cordless robot vacuum cleaners are most preferred by customers for their ease of use, securing them a significant share of the market.
One of the largest IT firms in South Korea, KT, has teamed up with the restaurant chain called Mad for Garlic to provide AI-serving robots. The robot can easily navigate the constrained spaces between tables and avoid obstructions by using 3D spatial mapping and other technology. Up to four tables can be attended by the robot in one trip, and young customers and kids usually like seeing the robot. Additionally, after COVID-19, clients believe that receiving food via a robot is safer and fresher in general.
Increased disposable income and hectic lifestyles are two significant factors contributing to the growth of robot vacuum cleaners in South Korea. South Korea is one of the most overworked nations in the world. The working hours are quite long, and people often go to work on the weekends to meet their targets. Hence, people rely more on technology to get their daily household chores done. This is aiding the robot vacuum cleaner market in following a positive trajectory.
The widespread COVID-19 virus and the need to maintain social distance increased the sales of vacuum cleaners in South Korea. Although the manufacturing rate slowed down during the pandemic due to the unstable supply of raw materials which are required for manufacturing the robot vacuum cleaners, the robot vacuum market is recovering steadily as several manufacturers launched the UV sterilisation feature. People are willing to spend their money on sanitation products to prevent the spread of coronavirus. This factor helped boost the market for automatic robot vacuum cleaners in South Korea.
One of the key variables driving the market ahead is the increasing demand for robot cleaners in hospitals. Robotic cleaners are used for a variety of tasks in addition to cleaning, like detecting temperature and restricting guest access. These robots can also be employed to clean hospital hallways that have the technological capabilities to avoid obstructions and move about freely. Long-term market growth for robot cleaners in Korea may be impacted by such advancements.
Robot vacuum cleaners are expensive which makes them accessible for the upper-middle to upper strata of the society. Also, the maintenance cost of such devices is high since various technologically advanced sensors and transmitters are embedded in the product. Robot vacuum cleaners consume high electrical energy, and the inclusion of new technologically advanced features uses up a lot of energy which could make environmentally conscious customers not to buy the product and hamper the market growth.
Based on type, the south Korea vacuum cleaner market can be segmented into cleaning robot, mopping robot, and hybrid robot. On the basis of operation, the market can be bifurcated into self-driven and remote-controlled. On the basis of end-use, the market can be divided into residential and commercial. On the basis of distribution channels, the South Korea vacuum cleaner market can be classified into online and offline channels.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea robot vacuum cleaner market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
Disposable and reusable wet cleaning pads are included in the hybrid vacuum cleaners. The machine cleans the floor by collecting dust and dirt in dry mode. When in mopping mode, a spray nozzle sprays water, and the wet pads wipe away dust from hard floors. These are more in trend because of the two-in-one feature of cleaning and mopping. The market for conventional vacuum cleaners is expected to grow along with the hybrid type due to cost affordability.
One of the largest IT firms in South Korea, KT, has teamed up with the restaurant chain called Mad for Garlic to provide AI-serving robots. The robot can easily navigate the constrained spaces between tables and avoid obstructions by using 3D spatial mapping and other technology. Up to four tables can be attended by the robot in one trip, and young customers and kids usually like seeing the robot. Additionally, after COVID-19, clients believe that receiving food via a robot is safer and fresher in general. The rising significance of e-commerce among customers, aided by consumer awareness regarding technology due to social media is driving the market growth. Motor -powered cordless vacuum cleaners are very trendy these days due to their ease of usage. Remote-controlled vacuum cleaners also occupy a fair share in the market due to their affordability as compared to the fully automatic vacuum cleaners.
The growth of south Korea robot vacuum cleaner market is anticipated to be aided by the factors such as celebrity influence, social media marketing and promotion of the product on various platforms. Factors such as ease of use, fast charging, flexibility of the product to clean corners, Wifi connectivity and voice commands entice the customers and propel the market growth. Due of high purchasing power, people can afford high-tech products for their comfort. Hence, Residential sector is scaling up and making the market competitive.
Based on distribution channels, both online and retail segments are estimated to expand. Brands now focus on e-commerce platforms as well to reach out the local as well overseas consumers. South Korea is known for their technology as key players invests a lot on research which provides significant impetus to the industry growth. South Korea has a high internet and smartphone penetration rate, which encourages online sales of goods.
Samsung Electronics Co. Ltd. - Samsung Electronics Co Ltd is a subsidiary of Samsung Group. It produces a diverse range of consumer and industrial electronic devices, including microwaves, air conditioners, monitors, televisions, personal computers, peripherals, and semiconductors. The company also manufactures mobile phones, telecommunications equipment, and solutions for Internet access networks. Samsung operates in several different geographic areas, including the Americas, Europe, Africa, the Middle East, and Asia-Pacific. The headquarter of Samsung is situated in Seoul, South Korea.
Xiaomi Corporation- Chinese multinational electronics brand Xiaomi Corporation is based in Beijing City, China. The company was established in 2010 and manufactures phones, televisions, air purifiers, lifestyle products, power banks, vacuum cleaners, and smart bands, among others. The company has a presence in more than a hundred regions.
LG Electronics Inc.- A division of LG Corp., LG Electronics Inc. produces and sells home appliances and consumer electronics. Televisions, computers, refrigerators, dehumidifiers, audio and video equipment, washing machines, smart locks, air purifiers, home and business air conditioners, and vacuum cleaners are among the company's product offerings. Additionally, it provides solar panels, cellphones, information displays, sensor components, optic solutions, camera modules, automotive parts, substrates, and materials, among others. The business is present across the Americas, the Middle East, and the Asia Pacific. The Republic of Korea's capital city, Seoul, serves as the headquarters for LG Electronics.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Type||
|Breakup by Operation||
|Breakup by End Use||
|Breakup by Distribution Channels||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 South Korea Robot Vacuum Cleaner Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Robot Vacuum Cleaner Historical Market (2018-2022)
8.3 South Korea Robot Vacuum Cleaner Market Forecast (2023-2028)
8.4 South Korea Robot Vacuum Cleaner Market by Type
8.4.1 Cleaning Robot
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.4.2 Mopping Robot
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.4.3 Hybrid Robot
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.5 South Korea Robot Vacuum Cleaner Market by Operation
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.6 South Korea Robot Vacuum Cleaner Market by End Use
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.7 South Korea Robot Vacuum Cleaner Market by Distribution Channels
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Samsung Electronics Co. Ltd
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.2 Xiaomi Corporation
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.3 LG Electronics Inc.
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.4 Koninklijke Philips N.V.,
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.5 Yujin Robot Co., Ltd.
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
11 Industry Events and Developments
List of Key Figures and Tables
1. South Korea Robot Vacuum Cleaner Market: Key Industry Highlights, 2017 and 2021
2. South Korea Robot Vacuum Cleaner Historical Market: Breakup by Type (USD Million), 2018-2022
3. South Korea Robot Vacuum Cleaner Market Forecast: Breakup by Type (USD Million), 2023-2028
4. South Korea Robot Vacuum Cleaner Historical Market: Breakup by Operation (USD Million), 2018-2022
5. South Korea Robot Vacuum Cleaner Market Forecast: Breakup by Operation (USD Million), 2023-2028
6. South Korea Robot Vacuum Cleaner Historical Market: Breakup by End Use (USD Million), 2018-2022
7. South Korea Robot Vacuum Cleaner Market Forecast: Breakup by End Use (USD Million), 2023-2028
8. South Korea Robot Vacuum Cleaner Historical Market: Breakup by Distribution Channels (USD Million), 2018-2022
9. South Korea Robot Vacuum Cleaner Market Forecast: Breakup by Distribution Channels (USD Million), 2023-2028
10. South Korea Ice Cream Historical Market: Breakup by Province (USD Million), 2018-2022
11. South Korea Ice Cream Market Forecast: Breakup by Province (USD Million), 2023-2028
12. South Korea Robot Vacuum Cleaner Market Structure
The South Korea robot vacuum market is estimated to grow at a CAGR of 6.7% between 2023 and 2028.
Rising disposable income, access to 5G internet, improved standard of living, busy lifestyle, need to maintain cleanliness and social distancing due to covid-19 are the industry drivers.
The growing trend of smart homes in South Korea is the key trend in the robot vacuum cleaner market.
The dominant type of robot vacuum cleaners in the industry are cleaning robot, mopping robot, and hybrid robot.
The distribution channel segment is led by online and retail stores.
The major players in the South Korea robot vacuum cleaner industry are., Samsung Electronics Co. Ltd, Xiaomi Corporation, LG Electronics Inc., Koninklijke Philips N.V., and Yujin Robot Co. Ltd., among others.
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