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iRobot Corp (IRBT) Q1 2021 Earnings Call Transcript


iRobot Corp (IRBT) Q1 2021 Earnings Call Transcript
Motley Fool Transcribers
© The Motley Fool
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iRobot Corp (NASDAQ: IRBT)
Operator
Good day, everyone, and welcome to the iRobot First Quarter 2021 Financial Results Conference Call. At this time, for opening remarks and introductions.
I would like to turn the call over to Andrew Kramer of iRobot Investor Relations. Please go ahead.SPONSORED:
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Robotic Vacuum Cleaners Market to be Worth $12.1 billion by 2027 - Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research®


robotic vacuum cleaners market study:
Based on type, the hybrid robots segment is expected to grow at the highest CAGR from 2020 to 2027. The growth is attributed to the introduction of robotic vacuums with both vacuuming and mopping features allowing consumers to benefit from both processes in a single product. Increasing demand for smarter, affordable vacuum and mopping operations is boosting the demand for robotic 2-in-1 vacuum cleaners. For instance, in March 2021, ECOVACS launched its new line of vacuums, DEEBOT N-Series, with OZMO mopping feature. The products include N8+ and N8 Pro+ with an all-in-one mopping & vacuuming system.
Based on distribution channel, the online segment accounted for the largest share of the overall robotic vacuum cleaners market in 2020. The convenience of online purchases such as wide product variety, easy payments and delivery, and discounts are propelling the growth of the online segment. ....

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