Despite fierce competition leading to bankruptcy for some US companies, the global market for robotic vacuum cleaners holds significant growth potential due to low penetration rates. Meng Jia, president of Dreame Technology’s robotic vacuum division, predicts consistent sales growth in the coming years, highlighting that market penetration is still below 10% in China and under 20% internationally. Meng believes the robotic vacuum sector is still developing, with room for improvement in user experience. Europe stands as Dreame’s largest market, driven by a tech-savvy consumer base, with over half of the company’s revenue in the region stemming from premium products priced above 1,000 euros. In contrast, the Chinese market is highly competitive, with the 3,000 to 4,000 yuan price range accounting for about 50% of Dreame’s domestic revenue.
Is untapped global demand the key to Dreame’s next growth phase?
