Roborock becomes the 1 global robot vacuum cleaner brand by sales and revenue in 2024 Q2 HS

2024-09-24 10:00:00 · Corporate

Roborock Becomes #1 Global Robot Vacuum Cleaner Brand by Sales and Revenue in Q2 2024

SSE-listed Roborock posts 30.90% YoY operating revenue growth in the first half of 2024 as it releases industry-leading robotics technology in global markets
According to IDC, product innovation and strong global markets penetration amongst the top reasons for Roborock’s success

SEPT 23, 2024 - Global market research agency IDC has named Roborock as the #1 global robot vacuum cleaner brand by unit sales and revenue,

according to its 2024 Q2 Worldwide Smart Home Device Tracker released earlier this week. The result represents an 8% increase YoY for the brand.

Separately, the Shanghai Stock Exchange listed company (SHA: 688169) announced impressive H1 growth earlier this year. In the first half of 2024, Roborock achieved operating revenue of 4.416 billion RMB (≈USD$625m), reflecting a year-on-year increase of 30.90%. The parent company’s shareholders saw their net profit reach 1.12 billion RMB (≈USD$158m), representing a significant year-on-year growth of 51.57%.

IDC’s report states that product design and tech innovation are at the forefront of Roborock’s reasons for commercial success, with 2024 upgrades to its Qrevo and S Series “making Roborock products become more lightweight and providing enhanced navigation, obstacle avoidance, and hair entanglement prevention to consumers.”

According to IDC, another reason for Roborock’s positive results is its strong and early global market penetration. In the United States, the brand has access to large offline retail chains often hard to reach for other players, together with an ever-increasing brand influence through its e-commerce operations. The company also holds a leading sales position in the Nordics, Germany, Korea, and Turkey, where it also ranks as the #1 sales brand.

From an industry perspective, IDC’s 2024 Q2 Worldwide Smart Home Device Tracker reports that in the second quarter of the year, the global smart robotic vacuum cleaner market grew by 15.7% YoY, driven by product function upgrades and an accelerated pace of new launches.

The IDC paper comes one week after Roborock won several prestigious global media awards at IFA 2024 based on the launch of its new Qrevo Curv series, the first commercially available robot vacuum cleaner that can climb upon floor obstacles as high as 40mm(1) through a new self-developed technology called AdaptiLift Chassis. At IFA, the company also launched the Roborock Qrevo Slim, the industry first(2) and slimmest(3) dual-light 3D ToF navigation robot vacuum.

Source: https://mp.weixin.qq.com/s/eeweuBRiFnYnfHWcha4aeQ

Based on internal testing carried out by the manufacturer. Actual results may vary depending on environmental factors.
Roborock was the first in the robot vacuum industry to implement 3D ToF functionality using a dual-transmitter approach, as the technology officially launched earlier in 2024.
Based on research conducted by the manufacturer as of Sept 1, 2024, within the 3D ToF-navigation robot vacuum category.