Robotic Lawn Mower Market to Reach $1,437 Million, Globally, by 2025 at 12.9% CAGR, Says Allied Market Research
PORTLAND, Oregon, December 14, 2018 /PRNewswire/ --
Increasing dependence on robotics due to advent of artificial intelligence, growing penetration of smartphones, and declining cost of batteries are expected to propel the growth of the global robotic lawn mower market
Allied Market Research recently published a report, "Robotic Lawn Mower Market by Range (Low Range Robotic Lawn Mower, Medium Range Robotic Lawn Mower, and High Range Robotic Lawn Mower), End-User (Residential User, and Commercial User), and Distribution Channel (Retail, and Online): Global Opportunity Analysis and Industry Forecast, 2018-2025." The research offers detailed analysis of the industry dynamics, key investment pockets, major market segments, top investment factors, and the competitive landscape. According to the report, the global robotic lawn mower market accounted for $538 million in 2017 and is estimated to reach $1,437 million by 2025, registering the CAGR of 12.9% through 2025.
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Increasing use of robotics due to advances in artificial intelligence and growing penetration of smartphones for controlling lawn mowers drive the growth of the global robotic lawn mower market. However, high installation cost required for the initial setup hampers the market growth. On the contrary, declining cost of batteries and robotic lawn mowers are expected to create lucrative opportunities for the market players in the coming years.
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Medium range robotic lawn mower segment to create lucrative opportunities by 2025
The medium range robotic lawn mower segment held the largest share in 2017, contributing about 47% share in the market, owing to larger area coverage and convenience of machine labor. In addition, the segment is expected to register the fastest CAGR of 14.5% during the forecast period. The other segments analyzed in the report include low range robotic lawn mower and high range robotic lawn mower.
Major end users in the market
The major end users analyzed in the report, include residential users and commercial users. The residential user segment held the largest market share in 2017, contributing about the three-fourths share of the total revenue, as residential users prioritize on saving time and efforts when it comes to lawn management. However, the commercial user segment is expected to register the fastest CAGR of 14.4% during the study period.
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Retail distribution channel to portray highest revenue through 2025
Retail distribution channel held the largest share in 2017, contributing about 75% share of the market, as leading vendors sell their products and accessories through organized retail network to reach maximum number of consumers. However, the online distribution channel segment is expected to portray the fastest CAGR of 16.4% during the study period.
Asia-Pacific region to manifest fastest growth through 2025
The Asia-Pacific region is expected to grow at the fastest CAGR of 17.7% during the forecast period, owing to rapid urbanization and rise in construction of new residential properties. However, Europe region dominated the market in terms of revenue, contributing about 40% share of the market. The other regions are analyzed in the report include North America and Latin America, Middle East and Africa (LAMEA).
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Major market players
The major market players analyzed in the report include DEERE & COMPANY, Hitachi, Ltd, Husqvarna Group, Stiga S.p.A, The Kobi Company, Robert Bosch GmbH, Honda Motor Co., Ltd, Zucchetti Centro Sistemi S.p.a., LG Electronics, and MTD.
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