New York, USA, March 30, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global hospitality robots market. According to the report, the global market is projected to surpass $17,10,879.9 thousand and grow at a CAGR of 25.7% in the estimated period, 2021–2028. This all-inclusive report delivers a comprehensive overview of the current and future situation of the hospitality robots market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Hospitality Robots Market
The outburst of the COVID-19 pandemic in 2020 has had a positive impact on the growth of the global hospitality robots market. Cleaning and disinfecting activities at public facilities such as hotels, hospitals, railway stations, and airports was a top priority during the pandemic, which triggered a huge demand for disinfection robots. In addition, a majority of restaurants and hotels have begun implementing robots to enhance the efficiency of their business and maximize revenue. All these factors boosted the market growth during the pandemic.
Factors Impacting the Hospitality Robots Market Growth
The key factor boosting the growth of the global hospitality robots market is a significant increase in innovative startups working in the international hospitality sector, such as Maidbot, Savioke, Inc., and Aethon Inc., which are developing successful tactics including series investment and ground-breaking inventions. Furthermore, the growing awareness among Asian restaurant and hotel owners about improving the customer experience is estimated to unlock lucrative opportunities for market growth in the forecast period. However, a lack of knowledge about hospitality robots in middle- or low-income economies and expensive products related to hospitality robots are anticipated to deter the market’s growth.
The report segments the global hospitality robots market into type, end user, and region.
Delivery Robots Sub-Segment to Grab a Foremost Share of the Market
The delivery robots sub-segment of the type segment is foreseen to observe leading growth and garner $5,47,392.7 thousand by 2028. This growth is mainly due to growing demand for delivery robots owing to their high quality, capacity to control elevators, and ability to navigate through crowds.
Hotels Sub-Segment to Witness Rapid Growth
The hotels sub-segment of the end user segment is predicted to grow enormously and hit $7,39,408.2 thousand by 2028. This growth is mainly due to the help provided by mobile service robots in the delivery of hotel facilities such as storage services, offering information, front desk services, and check-out & check-in services using facial & voice recognition technology.
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Asia-Pacific Region to Perceive Maximum Growth
The report analyzes the global hospitality robots market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the Asia-Pacific market is projected to observe significant growth and hit $3,93,502.4 thousand by 2028. This growth is mostly due to the government's strong support for strengthening effective automation in this region.
Key Players of the Global Market
The report states some of the foremost players operating in the global hospitality robots market including
- BotsAndUs
- Savioke
- Maidbot
- Travelmate Robotics
- Softbank Robotics
- Ubtech Robotics Inc.
- Aethon Inc.
- Starship Technologies Inc
- Awabot
- Connected Robotics
These players are taking various initiatives such as investing in novel product launches, strategic alliances, and collaborations, etc. to obtain a leading edge in the global market.
For instance, in July 2022, Super Eagle Technology, a top manufacturer specializing in the production of car chargers, power supplies, desktop chargers, mobile phone chargers, etc., launched an AI robot server, IPAW Model L - a remarkable invention for the hospitality sector.
Also, the report provides numerous industry insights, such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Hospitality Robots Market:
- Improvisation in Hotel and Tourism Sectors Worldwide to Drive the Global Hospitality Robots Market
- Increasing Number of Creative Startups in the Hospitality Robots Industry to Propel the Growth of the Global Hospitality Robots Market
