How Dreame Technology Became a Global Leader in the Vacuum Cleaner Industry?
On September 24, 2024, the Jiangsu Productivity Promotion Center announced the results of the 2024 Jiangsu Unicorn Enterprises, once again recognizing Dreame Technology (Suzhou) Co., Ltd., a leading cleaning appliance company in China. Unicorn companies are defined as those that leverage technological innovation to achieve rapid growth, boasting strong industry influence, core competitiveness, and high market valuation. These firms, including Dreame, are recognized as leaders in new-age productivity.
In April 2024, the Hurun Research Institute published its 2024 Global Unicorn List. This report highlights privately owned companies established after 2000 with valuations exceeding $1 billion. Ranking 385th globally with a valuation of $20 billion, Dreame Technology was once again acknowledged as one of the world's most successful non-listed companies.
Dreame’s Origins and Technological Breakthroughs
Dreame Technology, founded by Yu Hao during his college days, began as a small project in the "Sky Factory." Over seven years, Dreame has grown from its high-speed digital motor innovations to becoming a market leader in the smart vacuum cleaner industry. Like Steve Jobs redefined mobile phones and Elon Musk revolutionized cars, Dreame aims to reshape the future of smart cleaning solutions. The company's innovations in vacuum cleaners, robotic vacuum cleaners, and floor scrubbers have already set it apart in the industry.
Global Expansion and Brand Growth
Since its inception in 2017, Dreame Technology has evolved through three major phases: serving as a ToB supplier for Xiaomi's Mijia brand, launching its own brand in the global market, and expanding its presence in the domestic Chinese market. This journey has been marked by seizing critical opportunities, leading to explosive growth in both vacuum cleaner sales and market share.
The key to Dreame's success lies in its technological prowess, especially in high-speed digital motors and intelligent algorithms. These innovations have allowed Dreame to build a strong product ecosystem, delivering high-performance vacuum cleaners to consumers in more than 120 countries.
Dominating the Cleaning Appliance Market
According to third-party market data, in the first half of 2024, Dreame Technology achieved an 18% market share in China's online cleaning appliance market, making it the industry leader. Dreame’s retail sales increased by 62% year-on-year, while its volume surged by 73%. Globally, Dreame's growth in smart vacuum robots has been equally impressive, with a 73.3% year-on-year increase in shipments ranking first in the industry.
Innovating for the Future
As of December 2023, Dreame Technology has applied for 4,256 patents worldwide, with 2,206 patents already granted. The company continues to focus on technological advancements, particularly in areas such as SLAM (simultaneous localization and mapping), multi-cone cyclone separation, and fluid dynamics, ensuring that its vacuum cleaners remain at the cutting edge of the market.
Dreame Technology’s products span cordless vacuum cleaners, robotic vacuum cleaners, smart floor scrubbers, and high-speed hair dryers. These products are available across over 4,000 retail stores worldwide, and the company’s customer base has exceeded 21 million households globally.
Conclusion
As Dreame Technology continues its mission of bringing cutting-edge technology to everyday life, it stands out as a global leader in the smart cleaning industry. The company's dedication to innovation, customer satisfaction, and market leadership ensures that it will remain a dominant player in the vacuum cleaner market for years to come.
