The global robotic vacuum cleaner market has significant growth potential, with low penetration rates. Europe is Dreame’s largest market, followed by China and the US. Chinese manufacturers dominate the global market with top spots in smart robotic vacuum shipments. US-based iRobot filed for bankruptcy, while DJI and Pudu Robotics entered the market.

Meng Jia, president of Dreame Technology’s robotic vacuum division, anticipates steady growth in sales due to low market penetration rates. Dreame recorded the fastest growth in new job listings among Chinese companies. DJI made its debut in the robotic vacuum sector with the ROMO series, focusing heavily on AI capabilities. European consumers drive Dreame’s revenue with premium products priced above 1,000 euros.

Read more at Yahoo Finance: Robotic vacuum maker Dreame says untapped global demand to drive next phase of growth