According to the business intelligence report titled ‘Global Household Robots Market, 2021-2027’, available with MarketStudyReport, global household robots market is projected to witness 18.6% CAGR between 2021 and 2027.
 

Rising penetration of automation in household appliances, increasing concerns regarding safety, and soaring labor costs are the key factors driving global household robots market expansion.
 

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For the unversed, household robots or domestic robots are autonomous service robots which are primarily used to perform mundane tasks such as pool cleaning, floor cleaning, and land mowing. They can also be used for elderly assistance, education, and entertainment purposes. Technological advancements with regard to interaction, cognition, and manipulation will aid revenue inflow as well.
 

While growing popularity of smart homes and rising investments in research & development by leading companies will aid industry growth, high equipment cost will act as a challenge for businesses operating in this domain.
 

Based on application scope, worldwide household robots market is split into companionship, vacuuming & mopping, pool cleaning, and lawn mowing. Among these, vacuuming & mopping segment is reckoned to garner massive revenues between 2021-2027, due to launch of innovative products & advanced technologies, utilization of 2D & 3D machine vision cameras, and efforts to increase life of cleaning tools.
 

North America, South America, Europe, Asia Pacific, and Middle East & Africa are the regional contributors to the market valuation. Among these, Asia Pacific market is slated to record significant expansion between 2021-2027, owing to surging demand, development of all-purpose household robots by leading players, and investments into startups for launching innovative products.
 

Leading players formulating the competitive landscape of worldwide household robots industry are  Alfred Kärcher SE & Co. KG, Ecovacs Robotics Co. Ltd., Dyson Limited, Neato Robotics Inc., Husqvarna Group, LG Corporation, iRobot Corporation, and Samsung Electronics Co. Ltd.
 

The research report entails exhaustive information about listed companies such as product catalogue with specifications, market share held, sales amassed, growth rate estimates, profit margins, and strategic decisions undertaken by each contender.