Mayurikathade04 Aug, 2022Business
The main causes driving vacuum cleaner demand in the residential sector is a lack of time left for home duties due to the introduction of the Work from Home (WFH) model. Other important reasons driving global market expansion are changing lifestyles, increasing disposable incomes, a growing working population, rising purchasing power, and convenience of use. Technological advancements are expected to enhance product demand significantly in the market. The introduction of robotic vacuum cleaners, which can clean an area without the need for human interaction, is also expected to boost product demand and drive market expansion. 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020?s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed specially with the impact of lockdown by region.
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