Demand for Comprehensive Cleaning Services Grow Post-Pandemic

Due to the growing implementation of AI and automation in household equipment, the domestic robot market reached a high growth rate in recent years. For example, the development of machine vision cameras has rapidly expanded. As such, companies have begun using these 2D and 3D machine vision cameras with AI technologies to effectively map edges of various rooms and areas such as staircases, and to recognize obstacles, such as dustbins, and cables, doorsills, and rugs. Typically, a domestic robot is a service robot used for various household activities such as floor cleaning, pool cleaning, lawn mowing, or for various medical and disinfecting purposes. Such robots are usually autonomous in nature and are controlled by an integrated control system. E-Home Household Service Holdings Limited (NASDAQ: EJH), iRobot Corp. (NASDAQ: IRBT), Chimerix, Inc. (NASDAQ: CMRX), Waste Management, Inc. (NYSE: WM), UiPath Inc. (NYSE: PATH)

‎

Since the pandemic began, demand for cleaning robots has increased, as did demand for disinfection services. Disinfection techniques are critical for houses, according to the World Health Organization, to limit the risk of contamination from COVID-19 as well as monkeypox. Amid the COVID-19 crisis, the global market for home cleaning services was estimated at USD 5.6 Billion in the year 2020, and is projected to reach a revised size of USD 10 Billion by 2026 while growing at a CAGR of 9.6% over the analysis period, according to Global Industry Analysts. The pandemic has made sanitation more important than ever, exponentially accelerating the demand for residential cleaning services.

‎

E-Ho‎me Household Service Holdings Limited (NASDAQ: EJH) announced yesterday breaking news that, ""the Company has been awarded household and cleaning service contracts worth a total of RMB 4.7 million in August.""

‎

Pursuant to the contracts signed, E-Home will be the designated household and cleaning service provider for two years for seven properties under the management of Shanghai Fanying Environment Engineering Co. Ltd., Fujian Company and Fujian Fusheng Property Management Co Ltd.

‎

Among the contracts signed, Putian YouYou Cleaning Co., Ltd. (""YouYou""), a subsidiary of the Company, has been awarded RMB2.9 million new property cleaning contracts which last between one and two years to provide daily sweep and maintain cleanliness at four designated neighborhoods in Fujian city.

‎

YouYou is a leading cleaning services provider and a member enterprise at Fujian Province Cleaning Industry Association. E-Home acquired 60% of equity interests in YouYou in January.

‎

Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: ""E-Home is pleased to add these projects to another milestone of cleaning and maintenance services that will contribute to both our 2022 and 2023 performance. In addition, the healthy and long term relationship and the trust our clients rest on us will support the state of E-Home's efforts towards cementing our leading position in the market. All of these projects support the overall improvement and resiliency of our business, support our ambition to diversify into other business areas.""