Intellitimes APP learned that, according to data from Sigmaintell, in 2023, consumer robots accounted for approximately 81% of the global market shipments, maintaining a dominant position in the robotics market in the long term; industrial robots accounted for approximately 17% of the overall market shipments. Considering the long-term trend of aging population and the promotion of AI, the global overall demand for robots is showing a continuous growth trend. It is estimated that the global robot shipment scale will be around 47 million units in 2024, maintaining a compound growth rate of over 20% for the next 5 years. It is also expected that by 2029, its revenue scale will be close to 128 billion US dollars.

It is reported that the global robot market is divided into three types by application: industrial robots, consumer robots, and special robots. From the perspective of application scenarios, cleaning service robots occupy a dominant position in the market, accounting for nearly 70% of the consumer robot market shipments in 2023.

According to Sigmaintell data, in the consumer robot sector, irobot, ecovacs robotics (603486.SH), and Beijing Roborock Technology (688169.SH) rank among the top three in the industry.

(1) irobot relies on pure visual solutions, with high requirements for light and environment, facing increasing challenges from competitors.

(2) Ecovacs Robotics has a high brand awareness in the domestic market, accumulating rich technical experience in robot navigation, artificial intelligence, visual recognition, and maintaining strong competitiveness.

(3) Beijing Roborock Technology has strong software algorithm capabilities, independently developing efficient software communication frameworks. Laser Slam technology architecture is mature. The products mainly target the mid-range market, gradually penetrating the high-end market, and have strong competitiveness.