Roborock becomes No1 global robot vacuum cleaner brand by sales and revenue in Q2 2024

Global market research agency IDC has named Roborock as the No1 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.

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.