New York, City, Jan. 10, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global hospitality robots market is estimated to gather a revenue of $17,10,879.9 thousand and grow at a CAGR of 25.7% over the forecast period from 2021-2028. The extensive report provides a brief outlook of the market’s current framework including prime aspects of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2021-2028. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the Hospitality Robots Market:
Drivers: Growing number of innovative startups in the hospitality robots sector, tourism industry, hotels, and restaurants is estimated to drive the market growth by 2028. In addition, key advantages of advanced robots like high-capacity, configurable payload, and accuracy along with rising strategies like series funding and novel innovation by startups is predicted to further boost the hospitality robots market enhancement during the forecast years.
Opportunities: Noteworthy expansion of hospitality establishments across Asian countries and the presence of some powerful robots manufacturing organizations in such nations are the factors expected to offer better growth opportunities for the hospitality robots market by 2028.
Restraints: Lack of information about hospitality robots across low-income countries and exorbitant costs of such robots are the main factors predicted to impede the market growth during the analysis timeframe.
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COVID-19 Impact on the Hospitality Robots Market:
The onset of Covid-19 pandemic has had a positive impact on the global hospitality robots market. Disinfecting and cleaning public areas, hospitals, hotels, restaurants, railway stations, and airports were the primary concerns amid the pandemic which led to an upsurge in the demand for disinfection robots. This factor strengthened the hospitality robots market during the COVID-19 pandemic. In addition, wide adoption of advanced robots by hotels and restaurants to increase the efficiency and gain maximum revenue is another factor that helped the market witness positive growth during the pandemic crisis.
Segments of the Hospitality Robots Market:
The report has divided the hospitality robots market into a few segments based on type, end-user, and regional analysis.
Type: Front Desk Robots Sub-segment to be Most Dominant
By type, the front desk robots sub-segment is estimated to hold the highest market share and garner a revenue of $8,47,521.9 thousand by 2028. The active adoption of such robots in the hospitality sector is because of increased efficiency, healthier work environment, and improved guest services. Furthermore, front desk robots have significant features like personalized interactions, proactive approach, and increased security. These factors are estimated to drive the sub-segment’s growth during the forecast period.
End-user: Hotels Sub-segment to be Most Beneficial
By end-user, the hotels sub-segment is anticipated to hold a significant hospitality robots market share and surpass $7,39,408.2 thousand by 2028. Robots play a major role in storage services, providing information, front desk services, check-ins and check-outs, thus dominating their presence in restaurants and hotels. This factor is predicted to drive the hospitality robots market sub-segment’s growth by 2028.
Region: North America Region to Witness Enormous Growth Opportunities
By regional analysis, the market in the North America region is anticipated to surpass $6,60,399.6 thousand by 2028 and hold a great market share during the forecast years. Increased adoption of automation in malls, hotels, and restaurants in Canada and the US is the prime factor anticipated to drive the market growth in the North America region by 2028. Furthermore, the presence of some prominent market players and their collaborative strategies are also expected to accelerate the development of hospitality robots market during the forecast timeframe.
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Prominent Hospitality Robots Market key Players:
Some prominent market players are
- Savioke
- BotsAndUs
- Travelmate Robotics
- Maidbot
- Aethon Inc.
- Softbank Robotics
- Ubtech Robotics, Inc.
- Connected Robotics
- Awabot
- Starship Technologies Inc.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. - Inquire to Get access for Detailed Top Companies Development Strategy Report
For example, in December 2021, Savioke, a leading robot manufacturing company, announced the launch of ‘Relay+,’ a next-generation service robot for offices, hotels, and foodservice operations. Relay+ has three configurable payloads and quick-install capabilities, thus stepping up the adoption of hospitality robots worldwide.
The report also summarizes many important facets including financial performance of the key players of the market, SWOT analysis, product portfolio, and the latest strategic developments.
Related Article Links:
- Increasing Number of Creative Startups in the Hospitality Robots Industry to Propel the Growth of the Global Hospitality Robots Market
- Improvisation in Hotel and Tourism Sectors Worldwide to Drive the Global Hospitality Robots Market
