Technological advancements and rising penetration of artificial intelligence have paved the way for increased sales of robotic lawn mowers, since they have become much more efficient. Rising dependency on automation in the commercial sector to decrease operating costs and increasing adoption of domestic robots for residential applications are major factors estimated to drive the growth of the robotic lawn mower market during the forecast period.
According to FMI’s recent market study, the robotic lawn mower market is projected to progress at a high CAGR of 12.5% and reach a valuation of US$ 2 Bn by the end of the forecast period (2019-2029).
Key Takeaways of Robotic Lawn Mower Market Study
- In terms of segmental analysis, the sales of robotic lawn mowers are expected to remain concentrated to residential end use; nevertheless, sales in the commercial segment are projected to witness hefty growth over the coming years.
- e-Commerce growth across the globe squarely proliferates a robust outlook for manufacturers to sell their robotic lawn mowers through online channels/retail partners such as Amazon, e-bay, Alibaba, The Home Depot, etc.
- Demand in the Europe-based consumer market has grown rapidly in recent years, and still shows a substantial growth opportunity, as the robotic lawn mower market in the region is far from saturation.
- GPS and Bluetooth-enabled robotic lawn mowers and wireless mobile devices are potential investment options for manufacturers. Multiple voice interaction is also being provided in upcoming connected robotic lawn mowers.
“There is significant potential in the long-run as far as robotic lawn mowers are concerned for lawns in commercial areas, sports fields, hotels, and parks. Thus, companies in the market are positioning themselves to enter the professional/commercial market where requirements for technology and reliability are even higher.”
Robotic Lawn Mower Market : Competitive Landscape
The global robotic lawn mower market is significantly consolidated, with a few players holding a prominent share of nearly 50% in the market space. Some of the key players operating in the global robotic lawn mower market are Husqvarna AB, MTD Products, STIGA S.p.A., KYODO CO., LTD., and Robert Bosch GmbH, among others.
For More Detailed Insights on Robotic Lawn Mower Market
Moreover, to win over market imponderables and shakeouts, manufacturers such as Husqvarna, MTD, and Honda are expanding their geographic reach to South East Asia & Pacific.
Find More Valuable Insights on Robotic Lawn Mower Market
FMI, in its new research report, offers an unbiased analysis of the global robotic lawn mower market, presenting historical demand data of 2014-2018 and forecast statistics for the period of 2019-2029. The report reveals insights on the robotic lawn mower market, and covers market dynamics, market share analysis, pricing analysis, and channel partners involved in the robotic lawn mower market value chain. Readers can also find key trends and market growth scenarios based on working area, end use, sales channel, and regions such as North America, LAMEA, South East Asia & Pacific, and Europe.
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