The global robotic vacuum cleaner market is experiencing intense competition, with one US company recently filing for bankruptcy. Despite this setback, there is still significant room for growth in the market, according to Meng Jia, president of Dreame Technology’s robotic vacuum division.
Meng anticipates steady growth in robotic vacuum sales over the next few years, citing low market penetration rates of less than 10 per cent in China and under 20 per cent overseas. He believes that the robotic vacuum category has not yet fully realized its potential in terms of user experience and is still in its “ascent stage.”
Dreame Technology’s largest market for robotic vacuum cleaners is in Europe, followed by China and the US. The European market’s dominance is driven by a consumer base that is receptive to cutting-edge technology, with over half of Dreame’s revenue in the region coming from premium products priced above 1,000 euros (US$1,174).
In contrast, the Chinese market is the most competitive in the world, with the 3,000 to 4,000 yuan (US$568) price bracket accounting for roughly 50 per cent of Dreame’s domestic revenue. Despite this competition, Dreame has seen significant growth in new job listings, particularly in its robotic vacuum unit’s research and development department.
Chinese manufacturers have consolidated their global lead in smart robotic vacuum shipments, with brands like Roborock, Ecovacs, Dreame, Xiaomi, and Narwal commanding nearly 70 per cent of the worldwide market. Dreame holds the third spot ranking, with a 12.4 per cent share of the global market.
The market’s potential continues to attract new players, such as drone giant DJI, which recently entered the sector with the launch of the ROMO series. Start-up Pudu Robotics also launched the PUDU CC 1 Pro this year. Meng noted that DJI’s focus on artificial intelligence capabilities has provided insights for Dreame’s own AI promotional strategies.
Overall, the global robotic vacuum cleaner market shows promise for continued growth, with opportunities for innovation and market expansion. Despite challenges and intense competition, companies like Dreame Technology are poised to capitalize on the market’s potential and drive future advancements in robotic vacuum technology.
