The robotic cleaning industry is poised for rapid growth globally. This growth will come from both untapped markets and consumer adoption. In this modern age, many homes are comprised of two working spouses. There is a lack of free time to complete lengthy chores, like cleaning the pool (which can take hours). This is where robotic cleaners will take advantage of the lack of free time and desire to enjoy their free time with family instead of time-consuming chores.
There are three segments that make-up the robotic cleaner industry. It includes robotic lawn mowers, robotic home vacuums and robotic pool cleaners. The robotic cleaner industry is expected to grow to $2.5 Billion globally by 2020 (marketsandmarkets.com), of which 40% will be North America ($1 Billion).
Maytronics is the robotic pool cleaning industry leader in North America with 40% market share currently (slightly higher than 2014 market share). The next closest competitors are Aquabot and Polaris. Robotic cleaners are set for rapid growth over the coming years, and it will be interesting to watch how household chores, free time and family time change due to the advancement of technology.