Mar 12 2014
Research and Markets has announced the addition of the "Residential Robotic Vacuum Cleaner Market in South Korea 2014-2018" report to their offering.
The analysts forecast the Residential Robotic Vacuum Cleaner market in South Korea to grow at a CAGR of 18.15 percent over the period 2013-2018. One of the key factors contributing to this market growth is the decreased time for household activities. The Residential Robotic Vacuum Cleaner market in South Korea has also been witnessing the introduction of the robotic vacuum cleaner with the capability of home security. However, the increasing competition due to entry of new vendors could pose a challenge to the growth of this market.
Key vendors dominating this space are iRobot Corp., LG Electronics Inc., Samsung Electronics Co. Ltd., and Yujin Robot Co. Ltd.
Other vendors mentioned in the report are ECOVACS, Electrolux, Hanool Robotics Corp., Mamirobot Co. Ltd., Maytronics Ltd., Moneual Inc., and Neato Robotics Inc.
Commenting on the report, an analyst from the team said: The Residential Robotic Vacuum Cleaner market in South Korea has been witnessing emerging trends in the Home Security segment. Incorporation of security features in the robotic vacuum cleaner is a trend that will become dominant during the forecast period. The robotic vacuum cleaner penetration would increase with the addition of new security functionalities such as alerting homeowners to house fires and intruders. LG, one of the vendors in the market, has revealed plans to focus on the incorporation of human touch communications in home security. This is one of the market trends that would contribute revenue during the forecast period.
According to the report, the decreased time for household activities in the South Korean population is primarily driving the market because end-users are forced to adopt residential robotic vacuum cleaners for manual household works such as mopping and cleaning.
For more information visit http://www.researchandmarkets.com/research/tsh32s/residential