Residential segment drives growth
When Anker Innovations launched in India in the second quarter of 2019, they were selling 50-100 Robovacs in a quarter. Until Q1 2020, the situation was the same. However, once lockdown was announced, and people realised that normalcy would take time, demand picked up. It is now fulfilling 20-times more orders every quarter.
Robotic vacuum cleaner manufacturer Eufy expects India to constitute 5-6% of the $300 million market by 2021. Until last year, it was just 3-4%. Indian brand Milagrow, which until last year focussed on industrial cleaning robots, has pivoted its focus to take advantage of the growing consumer market. While it has only two categories of products for the robotic surface cleaners for the residential market, it now plans to launch more categories to unseat Chinese and American players. “Residential demand has gone through the roof,” said Milagrow founder Rajeev Karwal.” Before the pandemic, we were focusing on B2B. For us, residential demand more than made up for the loss of sales from the hospitality sector,” he highlighted.