The Rise Of The Roomba Vacuum Shows There Is Huge Business Potential In The Home Robot Industry

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we reveal that iRobot has shipped over 6 million home robots, including Roombas, in the last four years and a half. We also assess the market for consumer and office robots, taking a close look at the three distinct applications within this market, and how this emerging category now represents nearly all the growth in the increasingly diverse global robotics industry.

Consider:

  • We believe the market for home and office robots will grow from $673 million in 2014 to $1.5 billion in 2019, for a five-year CAGR of 17.39%. Note: Our estimate for the size of the consumer/office robot market excludes devices marketed to children as toys.
  • That means the market for consumer and office robots is growing seven times faster than the one for industrial robots.
  • One company, iRobot, is set to break the $500 million revenue mark this year on the back of home robots.
  • iRobot’s success has attracted major manufacturers to the robotic floor cleaning market, including LG, Samsung, Neato, Hoover and others. Robotic vacuums have only achieved ~15% penetration in North America, Europe, and Asia. (See chart, below.)

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