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Robotic Vacuum Cleaners Market to reach USD 21.11 Bn by 2029 at a growth rate of 21.89 percent over the forecast period

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Pune, May 09, 2023 (GLOBE NEWSWIRE) — Maximize Market Research, a global Automation & Process Control market research firm, has published competitive intelligence and market research report on “Robotic Vacuum Cleaners Market“. The Robotic Vacuum Cleaners market size was valued at USD 5.25 Bn in 2022. The total Robotic Vacuum Cleaners Market revenue is expected to grow at a CAGR of 21.89 percent from 2023 to 2029, reaching USD 21.11 Bn during the forecast period.

Market Size in 2022 USD 5.25 Bn
Market Size in 2029 USD 21.11 Bn
CAGR 21.89 percent (2023-2029)
Forecast Period 2023-2029
Base Year 2022
Number of Pages 282
No. of Tables 125
No. of Charts and Figures 115
Segment Covered By End-user, type, price range, and distribution channel
Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Robotic Vacuum Cleaners Market Scope and Research Methodology

The report is a detailed analysis of the Robotic Vacuum Cleaners Market covering all the major aspects such as segments, country-wise, and region-wise. For a better understanding of Robotic Vacuum Cleaners Market penetration, competitive structure, pricing analysis, and demand analysis of the market are undertaken at the local, regional and global levels.

Major companies are mentioned by region, along with their revenue, portfolio, developments, mergers & acquisitions, and strategic alliances, for competitive analysis of the Robotic Vacuum Cleaners Market. Growth potential and business forecast for new market entrants are provided in the Robotic Vacuum Cleaners Market report.

Robotic Vacuum Cleaners Market is segmented based on End-user, type, price range, and distribution channel to understand the variables and impact on the market growth. Bottom-up approach was used to estimate the Robotic Vacuum Cleaners market size. The primary and secondary methods were used to collect data from the Robotic Vacuum Cleaners market. SWOT analysis was conducted to provide the strengths and weaknesses of the Robotic Vacuum Cleaners market.

Robotic Vacuum Cleaners Market Overview

The Robotic Vacuum Cleaners is also called Robovac as a generic trademark is an autonomous robotic vacuum cleaner used for floor cleaning combined with sensors and robotic drives. Robotic vacuum cleaner is designed with technological advancements, including artificial intelligence, and navigation algorithms.

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Adoption of smart home technologies to boost the Robotic Vacuum Cleaners market growth

Due to the integration of devices and systems, such as voice control, app-based control, and home security the Robotic Vacuum Cleaners market is expected to grow over the forecast period. Adoption of robotic vacuum cleaners, in developed nations where consumers have more disposable income to spend is significantly contributing for the growth of the market. Use of robotic vacuum cleaners in industrial and commercial sectors is expected to boost the Robotic Vacuum Cleaners market growth.

High price of Robotic Vacuum Cleaners and environmentally conscious consumers is expected to restrain the market growth. Manufacturers of robotic vacuum cleaners face several challenges, in establishing effective distribution channels limits the market growth.

North American region to dominate the Robotic Vacuum Cleaners market growth over the forecast period

Adoption of smart home appliances in the region with its positive impact of lifestyle is expected to drive the Robotic Vacuum Cleaners market growth in the region. There is a trend of more advanced features such as mapping and room specific cleaning, which is significantly contributing for the growth of market in the region. Increasing demand for smart home devices and automation in Europe is expected to boost the European region market growth.

Robotic Vacuum Cleaners market segmentation

Based on End user, the market is segmented into residential, commercial, and industrial. Residential sector is expected to dominate the Robotic Vacuum Cleaners market over the forecast period. Robotic Vacuum Cleaners designed for home use, with features like stair detection and edge cleaning.

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By End-user:

  • Residential
  • Industrial
  • Commercial

By Type:

  • Robotic Floor Cleaners
  • Robotic Mops
  • Robotic Window Cleaners
  • Robotic Pool Cleaners
  • Robotic Lawn Mowers

By Price Range:

  • Low End (Budget Friendly): Costs under $200.
  • Medium: Costs between $200 and $500.
  • High (Premium): Costs over $500.

By Distribution Channel:

  • Online
  • Offline

Robotic Vacuum Cleaners Market Key Players include

  • iRobot Corporation – United States
  • Ecovacs Robotics – China
  • Dyson Ltd. – United Kingdom
  • Samsung Electronics Co. Ltd. – South Korea
  • LG Electronics Inc. – South Korea
  • Neato Robotics – United States
  • Xiaomi Corporation – China
  • SharkNinja Operating LLC – United States
  • Miele & Cie. KG – Germany
  • Panasonic Corporation – Japan
  • Vorwerk & Co. KG – Germany
  • Roborock Technology Co. Ltd. – China
  • Eufy – United States
  • ILIFE Innovation Ltd. – China
  • bObsweep – Canada
  • Ecovacs Deebot – China
  • iLife – United States
  • Hoover – United States
  • Tesvor – United States
  • Sichuan Qianwei Intelligence Technology Co. Ltd. – China
  • Cecotec Innovaciones S.L. – Spain
  • Proscenic – China
  • Philips – Netherlands
  • Tineco – United States
  • Anker – China

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Key questions answered in the Robotic Vacuum Cleaners Market are:

  • What are Robotic Vacuum Cleaners?
  • What was the Robotic Vacuum Cleaners market size in 2021?
  • What is the expected Robotic Vacuum Cleaners market size by 2029?
  • What is the growth rate of the Robotic Vacuum Cleaners Market?
  • Which are the factors expected to drive the Robotic Vacuum Cleaners market growth?
  • Which segment dominated the Robotic Vacuum Cleaners market growth?
  • What is the demand pattern for the Robotic Vacuum Cleaners market?
  • Which region held the largest share in the Robotic Vacuum Cleaners market?
  • Who are the key players in the Robotic Vacuum Cleaners market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2021)
  • Past Pricing and price curve by region (2018 to 2021)
  • Market Size, Share, Size & Forecast by different segment | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by End-user, type, price range, and distribution channel
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Maximize Market Research is leading Automation & Process Control research firm, has also published the following reports:

Artificial Intelligence and Robotics in Aerospace and Defense Market: The total market size is expected to reach USD 34.60 Bn by 2029, growing at a CAGR of 7.8 percent during the forecast period. Increasing Applications of AI and Robotics in the Aerospace and Defense Sector is expected to boost market growth.

Retail Robotics Market: The total market size was valued at USD 10.60 Bn in 2022 and is expected to grow at a CAGR of 32.5 percent through the forecast period to reach USD 76 Bn by 2029. Increasing automation and personalization in Retails sector is expected to boost the market growth.

Artificial Intelligence (AI) in Robotics Market: The total market size is expected to grow at 38.5 percent throughout the forecast period, reaching USD 93.41 Bn by 2029. Increasing needs of automation and demands for lesser human interventions in daily operational tasks is expected to boost the market growth.

Robotic Prosthetics Market: The total market size is expected to reach USD 2.50 Bn by 2029 at a CAGR of 9.2 percent during the forecast period. Rising accidents, rise in diseases such as diabetes, vascular diseases, arthritis, and other abnormalities is expected to boost the market growth.

Robotics End of Arm Tooling Market: The total market size is expected to reach USD 3.15 Bn by 2029, at a CAGR of 10.10 percent during the forecast period. Rise in adoption of robots in food and beverage industry is expected to boost the market growth.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.


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Artificial Intelligence

Brainomix Achieves Breakthrough with FDA Clearance of e-Lung AI Software

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Established market leader in stroke AI imaging receives its first FDA clearance in the lung imaging space.With this expanded foundation of AI-driven healthcare solutions, the Oxford-based company remains committed to driving innovation and delivering impactful advancements in imaging biomarkers.OXFORD, England, and CHICAGO, May 17, 2024 /PRNewswire/ — Brainomix, a pioneer in artificial intelligence (AI) imaging solutions to enable precision medicine, is proud to announce the FDA clearance of its latest product, Brainomix 360 e-Lung. Brainomix’s entry into the lung imaging space follows a series of successful clearances and widespread clinical adoption of its Brainomix 360 Stroke platform in both the US and Europe.

The clearance of e-Lung marks a significant milestone in Brainomix’s journey to expand its footprint in medical imaging beyond stroke-related applications and represents a notable step forward in the quest for advanced lung imaging solutions. The company, with its rich academic heritage and record of scientific excellence, will expand its research collaborations in the pulmonology space to yield new insights to inform future iterations of e-Lung and chart a path towards continual improvements for the lung imaging technology.
Dr Deji Adegunsoye, Assistant Professor of Medicine and Scientific Director of the Interstitial Lung Disease Program at University of Chicago Medicine, said: “This is an exciting step for Brainomix, who have a demonstrated track record of developing novel AI-based solutions in stroke and are now applying that expertise to develop innovative tools in the lung space. The preliminary data for e-Lung is impressive and would indicate that we have a promising tool that could help to expedite healthcare delivery and improve clinically meaningful outcomes for patients with lung disease.”
Brainomix recently announced the publication of a new study1 in the prestigious peer-reviewed journal American Journal of Respiratory and Critical Care Medicine (AJRCCM), resulting from a research collaboration with AstraZeneca. The results showed that Brainomix’s proprietary lung imaging biomarkers, which include the weighted reticulovascular score (WRVS), stratified patients at risk of Idiopathic Pulmonary Fibrosis (IPF) progression, outperforming standard measures.
Dr Michalis Papadakis, CEO and Co-Founder of Brainomix, said: “We are harnessing our expertise in AI-powered imaging to develop novel biomarkers in other disease indications where AI can support imaging-based diagnostic and treatment decisions.
“This e-Lung FDA clearance reflects our focus on developing innovative solutions that empower healthcare professionals with cutting-edge tools for sophisticated disease evaluation, enhancing access to treatments that can ultimately work to improve patient outcomes.”
Brainomix will be presenting its latest e-Lung data at the American Thoracic Society (ATS) annual conference in San Diego May 17th – 22nd, including results from research collaborations with Heidelberg University and with Seattle-based Avalyn Pharma.
Am. J. Respir. Crit. Care Med.: 2024 Feb 16 – e-Lung CT Biomarker Stratifies Patients at Risk of IPF Progression in a 52-Week Clinical Trialhttps://www.atsjournals.org/doi/abs/10.1164/rccm.202312-2274LEAbout Brainomix
Brainomix specializes in the creation of AI-powered software solutions to enable precision medicine for better treatment decisions in stroke and lung fibrosis. With origins as a spin-out from the University of Oxford, Brainomix is an expanding commercial-stage company with offices in the UK, Ireland and the USA, and operations in more than 30 countries. A private company, backed by leading healthtech investors, Brainomix has innovated award-winning imaging biomarkers and software solutions that have been clinically adopted in hundreds of hospitals worldwide. Its first product, the Brainomix 360 stroke platform, provides clinicians with the most comprehensive stroke imaging solution, driving increased treatment rates and improving functional independence for patients.
To learn more about Brainomix and its technology visit www.brainomix.com, and follow us on Twitter, LinkedIn and Facebook.
Contacts
Jeff Wyrtzen, Chief Marketing & Business Development [email protected] +44 (0)7927 164210T +44 (0)1865 582730
Media enquiries
Charles ConsultantsSue [email protected] M +44 (0)7968 726585
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CUBE acquires global regulatory intelligence businesses from Thomson Reuters

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LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.

The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.
Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”
Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”
Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.” 
Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”
Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”
The terms of the transaction will not be disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.
This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.
About Regulatory Intelligence
Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.
About Oden
Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.

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Cayman Enterprise City Publishes Socio-Economic Impact Assessment by Economist and Leading Advisor on the Caribbean, Marla Dukharan

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The Impact of Cayman Enterprise City’s Socio-Economic Development Project Nears USD $1 Billion
GRAND CAYMAN, Cayman Islands, May 16, 2024 /PRNewswire/ — Cayman Enterprise City (CEC) has released a Socio-Economic Impact Assessment by Marla Dukharan. The report illustrates that CEC is increasing its impact by supporting higher earnings for Caymanians and is driving a shift towards a knowledge-based economy by focusing on high productivity sectors. The release by Dukharan reads, “Caymanian resourcefulness and private sector-led innovation have been the driving force behind the islands’ outstanding socio-economic success. Cayman Enterprise City underpins the next generation of Cayman innovation and dynamism.”

With an economic impact of USD $130 million in 2023, contributing just under USD $1 billion to the local economic activity in 12 years since inception, “CEC is helping the nation to diversify economically, in terms of sectors and jobs, ensuring locals have economic and employment opportunities that match the nation’s progress,” the report reads.
The CEC socio-economic development project is now home to 352 Special Economic Zones Companies (SEZCos), many of which are globally recognised institutions led by top executives and industry experts. “CEC member companies are providing high-value employment with salaries exceeding those typically found outside of the special economic zone,” said Charlie Kirkconnell, Chief Executive Officer at CEC. “The CEC community is fully invested in Cayman and the report illustrates that the CEC socio-economic development project is making a very significant impact on Cayman’s economy and community.”
“As CEC continues to grow, it continues to create significant employment and entrepreneurial opportunities for Caymanians and we encourage anyone that might be interested in finding out how they might get involved, whether as a member of the community and/or as a volunteer in our Enterprise Cayman non-profit organisation (NPO).”
77% of Caymanian-held jobs at CEC member companies, are in sectors with high social returns and increasing global demand. “By putting skills first and prioritizing learning, CEC is enabling new industries to take root,” the release by Dukharan reads.
CEC, through its Enterprise Cayman NPO, is a first-mover in private sector-facilitated education and training in the Caribbean, making it a leading force to boost youth participation in the economy. By offering training in specialised skills, Enterprise Cayman is helping to close the gap in higher education and earnings for Caymanians. “Through Enterprise Cayman we’ve set out to strategically support meaningful employment and entrepreneurial opportunities for Caymanians, by providing internship and mentorship opportunities, by hosting skill-building and career focused training, and by providing invaluable networking and community engagement opportunities,” said Kirkconnell.
In 2023 individuals took advantage of 4,226 opportunities to participate in education, training, and career development events and, since launching entrepreneurial programming in 2021, Enterprise Cayman has worked with 41 new Cayman-born business ventures. “We’re helping to develop a local talent pool that meets the demand of Cayman’s growing digital innovation and technology sectors while, in parallel, offering exciting opportunities for individuals to launch new business ventures within an innovative business environment,” said Kirkconnell.  
With CEC’s new campus and state-of-the-art facilities, Signal House, the project “holds the promise of deep, continued economic impact,” the report concludes.
To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports. For more information on how to get involved and for upcoming programmes and events visit www.enterprisecayman.ky. 
Website: www.caymanenterprisecity.com LinkedIn: @CaymanEnterpriseCityTwitter:  @CEC_CaymanInstagram: @CaymanEnterpriseCityFacebook: @CaymanEnterpriseCityYouTube: @ceccayman
About Cayman Enterprise City 
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a genuine physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre, and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
About Enterprise Cayman 
Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands’ special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let’s grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!
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FOR MORE INFORMATION:Contact: Kaitlyn Elphinstone  Email: [email protected]  

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