Global Robotic Lawn Mower Market to Exceed Valuation of $4.06 Billion by 2028 | Declining Product Cost to Give Impetus to Smart Robotic lawn Mower Demand
Global robotic lawn mower market was valued at USD 1.48 billion in 2021, and the market size is estimated to reach USD 4.06 billion by 2028, at a CAGR of 15.5% over the forecast period (2022–2028).
Westford, USA, Dec. 12, 2022 (GLOBE NEWSWIRE) — The report found that the global robotic lawn mower market is currently worth $1.48 billion and is expected to grow at a compound annual growth rate of 15.5% until 2028. In 2021, there were an estimated 1.2 million units sold worldwide, and this is expected to increase to 6.6 million units by 2028. One of the key drivers of this growth is the increasing use of artificial intelligence and automation in robotic lawn mowers.
The global robotic lawn mower market is still in its early stages of development with only around 7% of total global lawn mower sales being attributable to robots. However, our industry analyst believes that this figure will grow rapidly in the coming years as robots become increasingly sophisticated and more affordable. One of the key findings of the report is that the North American market represents a major opportunity for robot manufacturers. This is due to the relatively high level of awareness among North American consumers and the fact that many leading manufacturers are based in the region.
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As these technologies continue to develop, robotic lawn mowers are becoming more efficient and easier to use. This is making them more appealing to a wider range of consumers, including those who may not have considered using a traditional lawn mower. The report also found that the price of robotic lawn mowers has been declining in recent years, making them more affordable for consumers. This is another important factor driving growth in the market. As the global robotic lawn mower market continues to grow, SkyQuest expects that competition will increase among manufacturers.
Asia Pacific to Continue Witnessing Fastest Growth at a CAGR of 21.3%
Asia Pacific robotic lawn mower market is growing rapidly, with sales increasing by 21.3% each year. The majority of robotic lawn mowers are sold in Europe and North America, but the Asia-Pacific region is also becoming a significant market. The key drivers of growth for robotic lawn mowers are convenience and cost savings. Robotic lawn mowers can reduce the time spent on lawn care by up to 80%, and they also have the potential to save money on fuel and other maintenance costs.
SkyQuest’s analysis also identified several challenges that need to be addressed before robotic lawn mowers can become more mainstream. These include the high upfront cost of the machines, concerns about their durability and reliability, and the lack of a clear value proposition for consumers. Despite these challenges, our analyst believes that robotic lawn mower market has significant potential and could become a major force in the lawn care industry in the years to come.
Smart Lawn Mower is Witnessing Increased Acceptance Among Consumers
The growing demand for smart robotic lawn mowers indicates that homeowners are becoming more interested in this new technology. Several companies have developed robotic lawn mowers that can automatically mow your lawn while you are away from home. This can be a convenient way to keep your lawn looking its best without having to put in the effort yourself.
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There are several factors that have contributed to the growing demand for smart robotic lawn mower market. One is the increasing popularity of robotic vacuums. Many people have found that these devices can save them a lot of time and effort when it comes to cleaning their homes. The same is true for robotic lawn mowers – they can take care of the tedious task of mowing lawn, freeing up time to do other things.
Another factor that has likely contributed to the growing demand for smart robotic lawn mowers is the advancements that have been made in artificial intelligence (AI) and robotics technology in recent years. This has made it possible for these devices to become more sophisticated, and efficient at performing their tasks. As AI and robotics technology continues to advance, it is likely that the demand for smart robotic lawn mowers will continue to grow as well.
Declining Product Cost to Give Impetus to Global Robotic Lawn Mower Market
The report states that these robots will become increasingly popular over the next seven years due to declining prices and improved features. The market is expected to grow from $1.48 billion in 2021 to $4.06 billion by 2028. One of the key reasons for this growth is that robotic lawn mowers are becoming more affordable. In 2021, the average price of a robotic lawn mower was $1,499. By 2028, this is expected to fall to $1099. This decrease is due to falling prices for key components such as sensors and motors. Another key driver for the growth of robotic lawn mower market is the declining cost of production. This is mainly due to advances in technology that have made it possible to mass produce these devices at a lower cost. As a result, more people are able to afford robotic lawn mowers, which is leading to further market growth.
In addition to becoming more affordable, robotic lawn mowers are also becoming more capable. Newer models are able to handle more complex yards with a variety of obstacles. This is due to advances in sensor technology and artificial intelligence. The report from SkyQuest is positive news for those considering buying a robotic lawn mower.
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Key Players in the Global Robotic lawn mower Market
- Husqvarna Group (Sweden)
- Robert Bosch GmbH (Germany)
- Deere & Company (US)
- STIGA S.p.A. (Italy)
- HONDA MOTOR CO., LTD. (Japan)
- Hitachi, Ltd. (Japan)
- LawnMaster (US)
- The Toro Co. (US)
- GLOBGRO AB (Sweden)
- LawnMaster (US)
- The Toro Co. (US)
- GLOBGRO AB (Sweden)
- ANDREAS STIHL AG & Co. KG (Germany)
- Robin Autopilot (US)
- Robomow Friendly House (Israel)
- WOLF-Garten company (Germany)
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