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Lawn Mowers Market Size to Hit Around USD 55.81 BN by 2030

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2 years ago

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London, Aug. 18, 2022 (GLOBE NEWSWIRE) — Precedence Research, Recently Announced Report on “Lawn Mowers Market (By Product; By End User; By Lawn Size; By Propulsion Type; By Level of Autonomy; By Battery Type; By Distribution Channel) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030”.

Key Insights:

  • The electric-powered lawn mowers product segment is growing at a CAGR of 5.2% over the forecast period.
  • The robotic lawn mowers product segment is growing a CAGR of 10.3% from 2022 to 2030.
  • Based on end user, the commercial gardening or government segment is expanding growth at a CAGR of 4.9% from 2022 to 2030.
  • The North America is anticipated to grow at a CAGR of 6.1% from 2022 to 2030.

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Why North America region dominates the lawn mowers market?

  • North American region is expected to dominate the market during the forecast period. There is a great demand for these equipments in the North American region as the houses in the North American region have good garden spaces in front of the house. In the European region the demand for lawn mowers is expected to reduce due to rapid urbanization. The sizes of the garden in the European region have reduced.
  • Maximum demand for the lawn mowers was from the North American region and the European region. About 30% of the houses in the United States have kitchen gardens. Till date most of the houses have the kitchen garden. Also, there is a lawn in the backyards of most of the houses in the United States. It accounts to about 70% of the total number. The whale ability of these equipments for maintaining the lawn will create opportunities for the growth of the market during the forecast period. The original equipment manufacturers will continue to increase the production of these lawnmowers.
  • The North American region is expected to see a compound annual growth rate of 6% in the coming years. During the pandemic the demand for the maintenance activities had gone up. Most of the original equipment manufacturers that are located in the North American region will face issues related to the expensive cost of transportation and delays in the supply of raw materials. In the past the shortage of semiconductors had also affected the market to a great extent.

Reasons to Purchase this Report:

  1. Estimates 2022-2030 Market development trends with the recent trends and SWOT analysis
  2. Market dynamics scenario, along with growth opportunities of the Market in the years to come
  3. Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
  4. Regional and country-level analysis integrating the demand and supply forces that are influencing the growth of the Market.
  5. Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
  6. Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
  7. Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Report highlights

  • Of the product the electric powered equipment has a ratio off high torque to weight and this will be your driving factor. The durability of the equipment is increased due to the advancements in the technology. The electric mowers are expected to dominate the market as there is a great demand for this equipment and it happens to be a popular choice. There shall be an increased use of robotic mowers in the coming years especially due to the demand from the tech savvy consumers. These equipments are environment friendly and convenient to use. Also, these equipments are offered in the market at and a fordable price which will be beneficial in driving the growth of the market in the coming years.
  • There shall be an increased use of these equipments in the residential areas. In order to maintain the gardens and green spaces the demand for this equipment is expected to grow during the forecast period. Rapid urbanization has also created a demand for these equipments for maintaining the landscapes and the green areas.
  • Although the demand for these equipments have dropped in the European region due to rapid urbanization but the demand is expected to grow in other regions especially the Asia Pacific region. As these equipments are offered on the online platforms the demand is expected to grow.
  • During the pandemic the worldwide lockdowns had created a good amount of demand for these products among the consumers that did leisure gardening activities.

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Scope of the Report

Report Attributes Details
Market Size in 2021 USD 31.6 Billion
Revenue Forecast by 2030 USD 55.81 Billion
CAGR 6.52% from 2022 to 2030
Largest Market North America
Fastest Growing Region Asia Pacific
Base Year 2021
Forecast Year 2022 to 2030
Key Players American Honda Motor Co., Inc., Fiskars, Husqvarna Group, MTD Products, Robert Bosch GmbH, Robomow Friendly House, The Toro Company, Ariens Company, Briggs Stratton, Deere & Company, Falcon Garden Tools

Market Dynamics

What are the drivers of lawn mowers market?

  • The demand for the lawn mowers is expected to grow in the coming years due to rapid urbanization in the developing nations. The availability of loans in the residential places will drive the market grow during the forecast period. In order to maintain the garden as well as the lawns in the residential spaces the demand for these equipments is expected to grow.
  • The rapid urbanization will lead to the development of many smart cities which shall give rise to the greenspaces. And in order to maintain these parks and launch the demand for the equipment is expected to grow during the forecast period.
  • Increased purchasing power at the hands of the consumers due to the dual income households the demand for better standard of living will create demand for these equipments. In the developing nations the demand for these equipments is expected to grow due to rapid urbanization even in these nations. There is a growth in the popularity of renting services for the lawn mowers. As the demand for these equipments is growing renting is an option that can be taken by many. Due to urbanization the garden and lawn in cities will also occupy large space and create demand for these equipments.

Restraints

The existing policies and the barriers in trade hamper the growth of the market. Few products are affected due to the change in the relationship of various countries. Trade policies are also affected to a great extent. Political unrest may also create restrictions on trade which hamper the growth of the market.

Opportunities

Due to the growing popularity of artificial intelligence technology which is used in the various systems across the globe will affect the market. The use of artificial intelligence will be favorable especially in the robotic systems. Integration of the mowers along with the applications has enabled altering of the settings or the frequency for which the moving needs to be done. Due to the use of the GPS technology indoor robotic mowers moving is done without the human interference. The robots used as lawn mowers operates in the entire area where there is a presence of the grass and stops at the boundary.

Challenges

The amount of pollution caused by the lawn mowers that make use of gas is equivalent to the pollution caused by 11 cars. Some of the high-end mowers when used for an hour will cause a pollution equivalent to the car which is driven for 150 kilometres. All of the studies relating to the pollution caused by the use of lawn mowers have shown that the use of this equipment hampers to environment.

The number of pollutants that are let out in the air extremely toxic. There has been constant research and development in order to provide battery operated lawnmowers that will be instrumental in reducing the pollution across the globe. The presence of the stringent policies associated with the emissions maybe one of the major challenges for the group of the market during the forecast period.

Recent Developments

  • In the year 2020 an autonomous or a robotic mowers was introduced which would be of great help to the professionals in the market. CEORA was launched by Husqvarna explicitly for the professionals.

Market Segmentation

By Product

  • Manual
  • Electric
  • Robotic
  • Patrol
  • Others

By End User

  • Commercial
  • Residential

By Lawn Size

  • Small
  • Medium
  • Large

By Propulsion Type

  • Internal Combustion Engine Type
  • Electric

By Level of Autonomy

  • Autonomous
  • Non-Autonomous

By Battery Type

  • Lithium-ion
  • Lead acid

By Distribution Channel

  • Online channel
  • Retail channel

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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Artificial Intelligence

Forum Systems Releases GenAI Productivity-Risk Framework and two Fine-tuned Models for Enterprise Customers

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17 mins ago

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May 13, 2024

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Announcing a framework to balance productivity and risk for enterprise deployments of GenAI models and releasing two fine-tuned models—Mistral QS-Sentry and Llama 3 QS-Sentry—with optimized productivity-risk profiles
Gartner Data & Analytics Summit 2024, LONDON, May 13, 2024 /PRNewswire/ — Forum Systems, a leader in LLM and API technologies, today announced the public release of two language models fine-tuned to optimize their productivity-risk profile from the Gartner® Data & Analytics Summit 2024. The research is discussed at length in two recent articles, Framework for LLM Selection by Balancing Model Risk with Workforce Productivity and Improving Productivity-Risk Profile through LLM Fine-tuning. This groundbreaking work presents a framework for balancing productivity and risk in GenAI deployments, an urgent question among business leaders today.

“LLMs security has its tradeoffs. More restrictive models will be safer but may hamper productivity. If enterprises aren’t measuring the productivity-risk balance of their models, they are in the dark about whether they’ve achieved an optimal tradeoff,” remarked Mamoon Yunus, CEO of Forum Systems. He continued, “classic machine learning metrics like precision and recall can serve as proxies for productivity and risk. Fine-tuning on extensive manual multi-vote labeled data, our LLMs show superior performance compared to base models.” 
The fine-tuned models—Mistral QS-Sentry and Llama 3 QS-Sentry—are based on Mistral-7B-Instruct-v0.2 and Meta-Llama-3-8B-Instruct.
In the first article, Forum Systems developed a framework for balancing risk and productivity and assessed the productivity-risk profile of Mistral and Llama 3 before fine-tuning. It found that, when asked to classify prompts as either safe or unsafe, Mistral was more precise and thus aligned with higher productivity, while Llama 3 was more restrictive and thus aligned with lower risk.
The second article analyzed the models after they were fine-tuned on a hand-curated dataset of about 20,000 prompts. The study showed that the productivity-risk profile of both models can see meaningful improvements after fine-tuning. Forum Systems has released both fine-tuned models on Hugging Face to contribute to the broader community of researchers and those working in AI governance and AI alignment, believing its framework for analyzing the trade-offs between productivity will also prove valuable to business leaders deploying safe and effective GenAI offerings.
As Gartner analyst Arun Chandrasekaran recently stated, “Generative AI (GenAI) has the potential to transform businesses across industries. Most business and technology leaders believe that the benefits of GenAI far outweigh its risks.” He recommends, “Put responsible AI at the heart of your generative efforts. Promote harmonious interaction among humans and machines with design thinking and by incorporating human feedback into GenAI applications.” Forum Systems agrees with Chandrasekaran’s analysis and recommendation. Its work in optimizing productivity-risk profiles of small models demonstrates that enterprise-class responsible AI deployments are within reach through fine-tuning.
Source: Gartner, 10 Best Practices for Scaling Generative AI Across the Enterprise, Arun Chandrasekaran, Leinar Ramos, Alberto Pietrobon, 10 January 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
About the Gartner Data & Analytics Summit 2024 Gartner analysts will provide additional analysis on data and analytics trends at the Gartner Data & Analytics Summits, taking place March 11-13 in Orlando, FL., March 26-27 in São Paulo, April 24-25 in Mumbai, May 13-15 in London May 21-23 in Tokyo, and July 29-30 in Sydney. Follow news and updates from the conferences on X using #GartnerDA.
About Forum SystemsForum Systems is leading the Enterprise GenAI revolution. Forum’s patent-pending QuantumSim™, together with Forum Sentry, mitigate the unpredictable nature of LLMs through integration with corporate APIs, ensuring LLM output is truthful and accurate. QuantumSim™ is secure by design and ships with industry-leading guardrails, moderation, data obfuscation, and observability for LLM-enabled offerings. Used by some of the largest global companies for building intelligent business workflows, Forum’s suite of products provides unique solutions that allow enterprises to reinvent themselves with GenAI.
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Artificial Intelligence

LG CEO EMBARKS ON STRATEGIC U.S. VISIT TO ENHANCE AI INITIATIVES

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4 hours ago

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May 13, 2024

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AI as Key Driver for Future Growth and Customer Experience Innovation
SEOUL, South Korea, May 13, 2024 /PRNewswire/ — LG Electronics’ (LG) CEO, William Cho, has embarked on a strategic business trip to the tech-rich western United States, a hotspot for global tech titans and dynamic AI dialogues. Throughout his week-long visit, Cho will focus on key tasks such as attracting top-tier AI talent, communicating the company’s vision and strategy to global investors and attending the influential MS CEO Summit. These endeavors are integral to LG’s comprehensive strategy to accelerate the incorporation of AI into all its business sectors.

AI as a Crucial Catalyst for Future Growth and Customer Experience Innovation
Throughout his trip, Cho aims to secure top-notch expertise in the AI field, an area that has recently surfaced as a critical turning point in the industry. He plans to leverage this as a springboard for transforming LG’s future business portfolio and revolutionizing the customer experience.
Annually, LG introduces approximately 100 million products to the market. Given a product lifespan of seven years, it’s estimated that nearly 700 million LG products are currently in use worldwide. Furthermore, the usage data gained from customers interacting with these devices exceeds 700 billion hours. Cho anticipates this enormous pool of usage data will help accelerate LG’s AI progression and the 700 million products will function not just as customer touchpoints but also as service platforms.
“AI, Cloud, and Big Data are new opportunities for LG”
Cho commenced his itinerary by hosting a tech conference in North America on the 11th in Cupertino, California. This program is aimed at drawing in top-notch talent from abroad. Key participants included LG’s AI Lab management team and executives from LG’s various businesses including Park Hyoung-sei, president of the LG Home Entertainment Company; Eun Seok-hyun, president of LG Vehicle component Solutions Company; Dr. Kim Byoung-hoon, CTO and executive vice president; Kim Weon-bum, CHO and executive vice president; and Dr. Sokwoo Rhee, head of LG’s North America Innovation Center.
LG extended invitations to about 50 AI experts currently working in large tech firms and startups in the Bay Area, as well as doctoral researchers from renowned universities in North America. The conference focused on discussions about the company’s vision, R&D strategy and the future trajectory of AI technology development.
Cho expressed, “In the face of transformative shifts such as electrification, servitization and digitalization sweeping across diverse industries, the application of AI, cloud and big data is paving the way for novel approaches and opportunities.” He further elaborated, “These emerging opportunities represent a new potential frontier for us, given our extensive accumulation of core technologies and expertise.”
He also provided detailed insights into LG’s AI vision of ‘Affectionate Intelligence’, which was unveiled earlier this year at CES 2024. Cho emphasized that “AI should fundamentally be used to care for and empathize with customers, provide tangible benefits and improve the customer experience,” a sentiment that deeply resonated with the attendees.
Following this, he announced, “LG is transcending its status from a global leader in the home appliance and consumer electronics to transform into a ‘Smart Life Solution Company’ that expands and interconnects various customer spaces and experiences.” He added, “I envision us collaborating to reinvent dreams as we undertake bold ventures, fueled by optimism for a brighter future and a better life.”
At the event, CTO Kim Byung-hoon spoke on the subjects of ‘Paradigm Shift’ and ‘LG’s Innovation Roadmap for the Future’, and vice president Han Eun-jung of AI Lab discussed ‘Daily Life with AI’. Professors from the University of Southern California and New York University were also invited to present on generative AI and robotics technology. A panel discussion on the theme of ‘Evolution of AI’ also attracted significant interest from the attendees.
Transition from a Leading Home Appliance Brand to a Smart Life Solution Company
Cho’s second agenda includes hosting a non-deal roadshow (NDR) on May 13, where he will interact with key executives from globally influential investment firms based in San Francisco. His strategy aims to depict LG’s transformation to a comprehensive ‘Smart Life Solution Company’. This transition is anchored in broadening the company’s business portfolio, which includes accelerating B2B business in areas such as EV components, HVAC, built-in appliances’ and signage solutions. The expansion of platform-based services like webOS, and venturing into new areas for LG such as robotics and EV charging, are also integral to this transformation plan.
In particular, Cho plans to highlight how LG is proactively engaging in the development and application of AI in its business operations. He aims to stress that creating tangible customer touchpoints is more crucial than merely having superior AI to provide authentic value and experience to customers.
In this regard, LG’s customer touchpoints, secured through its 700 million devices spanning diverse spaces from homes to vehicles and commercial areas, present a significant advantage that is unmatched by other global companies. LG’s goal is to realize Affectionate Intelligence in our daily lives by leveraging extensive real-time life data and expertise orchestrating devices and services to accelerate AI development using its devices as platforms.
Securing Global AI Allies and Discovering New Business Opportunities at the MS CEO Summit
Cho is also scheduled to attend the MS CEO Summit, a private, invitation-only event taking place in Seattle, where Microsoft’s headquarters is located, for three days starting from May 14. This summit serves as a platform for CEOs and representatives of globally leading companies to discuss and exchange ideas on various topics, including the economic and business environment, as well as industry trends.
LG is diligently working to establish world-class AI capabilities, guided by a ‘3B strategy’ that focuses on Building internal capabilities or Borrowing and Buying external resources. Given LG’s extensive global customer touchpoints and its possession of a vast amount of multi-faceted data and customer insights, the opportunities for future collaborations with globally influential tech companies are expected to become increasingly diverse.
About LG Electronics, Inc.
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 84 trillion in 2023. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.
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Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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2 days ago

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May 11, 2024

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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