Global Hospitality Robots Market Size is Anticipated to Acquire USD 3100 Million by 2030, Growing at 25.51% of CAGR | Robotics Technology Updates

Washington, DC, April 24, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Hospitality Robots Market By Type (Delivery Robots, Front Desk Robots, Cleaning Robots, And Others), By Sales Channel (Online And Offline), And By End-User (Travel & Tourism Industry, And Hotels, Restaurants & Bars), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Hospitality Robots Market size & share in terms of revenue was valued at USD 300 Million in 2022 and it is expected to surpass around USD 3100 Million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 25.51% during the forecast period 2023 to 2030.”

What are Hospitality Robots? How big is the Hospitality Robots Industry?

Hospitality Robots Industry Coverage & Overview:

Hospitality robots, also known as service robots, are semi-autonomous or fully autonomous machines that are becoming increasingly used in the hospitality business. They are capable of performing a wide variety of jobs that would normally require the assistance of a human. Among these responsibilities are the provision of room service, the serving of food and drink, the greeting of guests, the cleaning of guest rooms, and the assistance with the handling of luggage. The hospitality robots market is poised to experience growth in revenue over the course of the period under consideration as a result of the growing interest in, as well as investments in, fully automated processes in a variety of industries. There are several distinct kinds of robots, such as cleaning robots, humanoid robots, service robots, and others, that have been developed especially to meet the requirements of the hospitality business. Although there are a number of elements that are anticipated to work in the industry's favour, there is also the possibility that it will have to contend with significant hurdles and roadblocks. SoftBank Robotics, Savioke, Inc., Panasonic Corporation, LG Electronics, Inc., and Knightscope, Inc. are some of the prominent firms who are now leading the expansion of the industry.

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Global Hospitality Robots Market: Growth Dynamics

It is anticipated that the global hospitality robots market will expand as a result of the growing desire for higher levels of productivity and efficiency in the hospitality sector. Because hotel chains and other hospitality service providers are facing intense competition from new and emerging business players in the industry, these businesses are investing in technology and systems that enable them to provide an improved customer experience because this is the only way for companies to be able to survive in the hospitality industry. Because these companies rely heavily on meeting the expectations of their customers to generate money, the quality of the associated services is of the utmost importance.

One of the primary reasons why operators of hotels and restaurants are embracing robotic technology is so that they can boost their levels of efficiency and production. Robots are able to carry out responsibilities such as cleaning rooms and providing customer service, freeing up human employees to focus on more important or complex work to be done in the organization. In addition, there is a growing demand for individualized and tailor-made experiences when people travel, which may result in an increase in the employment of robots.

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Report Scope

Hospitality Robots Market: Segmentation Analysis

Based on type, Delivery robots, front desk robots, cleaning robots, and other types of robots make up some of the worldwide market segments. In 2022, the market for delivery robots experienced the highest growth rate of any sector in the business. In the hospitality industry, they are utilized for the purpose of delivering food, drinks, and other products to customers while they are in their rooms or in other areas located in the neighbourhood of the hotel. In order to ensure that the product is delivered without any hitches, these robots have been designed to navigate around a variety of obstacles that are typical in a hotel environment. The common areas, guest rooms, and other parts of the hotel are some of the locations that will be cleaned or sanitized by the cleaning robots. The price of a delivery robot is usually anything from $10,000 to $30,000 USD.

The global market for hospitality robots is divided into two categories: online and offline, based on the sales channel.

Based on end-user, The travel and tourism industries, as well as the hotel, restaurant, and bar industries, make up the two sections of the worldwide market. During the time period covered by the forecast, the market sector that encompasses hotels, restaurants, and bars is anticipated to experience the greatest CAGR overall. This part of the industry encompasses businesses such as pubs, hotels, resorts, motels, restaurants, cafés, and other venues that serve food and drink. The company makes use of robots that have been pre-programmed in order to automate a variety of labour-intensive and routine duties, such as providing customer service, delivering things to guests, and cleaning. However, despite the fact that the travel and tourism industry make use of hospitality robots to enhance the overall experience of visitors, this sector represents a very little market. Over four trillion United States dollars were transacted in the HoReCa (hotels, restaurants, and catering) industry in 2019.

The global Hospitality Robots market is segmented as follows:

By Type

• Delivery Robots
• Front Desk Robots
• Cleaning Robots
• Others

By Sales Channel

• Online
• Offline

By End-User

• Travel & Tourism Industry
• Hotels, Restaurants & Bars

Browse the full “Hospitality Robots Market By Type (Delivery Robots, Front Desk Robots, Cleaning Robots, And Others), By Sales Channel (Online And Offline), And By End-User (Travel & Tourism Industry, And Hotels, Restaurants & Bars), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/hospitality-robots-market

Competitive Landscape

Some of the main competitors dominating the global Hospitality Robots market include - 

• Omron
• Softbank Robotics
• LG Electronics
• Savioke
• Cyberdyne
• Knightscope
• Blue River Technology
• Aethon
• Panasonic
• Fanuc
• Simbe Robotics
• RobotLAB
• Pal Robotics
• ABB
• Boston Dynamics
• InVia Robotics
• Fetch Robotics
• Intuitive Surgical
• Sarcos Robotics
• Hanson Robotics
• BionicHIVE
• Universal Robots
• JBT Corporation
• Kuka
• Stanley Robotics

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global hospitality robots market is estimated to grow annually at a CAGR of around 25.51% over the forecast period (2023-2030)
• In terms of revenue, the global hospitality robots market size was valued at around USD 0.3 billion in 2022 and is projected to reach USD 3.1 billion, by 2030.
• The hospitality robots market is projected to grow at a significant rate due to the growing competition in the retail sector
• Based on type segmentation, delivery robots were predicted to show maximum market share in the year 2022
• Based on end-user principle segmentation, hotels, restaurants & bars were the leading users in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Key questions answered in this report:

• What is the market size and growth rate forecast for Hospitality Robots industry?
• What are the main driving factors propelling the Hospitality Robots Market forward?
• What are the leading companies in the Hospitality Robots Industry?
• What segments does the Hospitality Robots Market cover?
• How can I receive a free copy of the Hospitality Robots Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Sales Channel, By End-User, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

It is anticipated that the hospitality robots market will expand at the fastest rate in North America, with the United States holding the largest proportion of the regional industry. Rising adoption rates and the presence of important industry players who are continually working towards exploring the potential of creating and producing advanced robotics across a variety of industries, including hospitality, are essential to the growth of the regional economy. The increasing desire for automation, which helps free up the time of human resources so that they may be put to work on other important projects, is working in favour of economic expansion in North America.

As a result of rising levels of both acceptance and investment in hospitality robots, Europe is anticipated to overtake North America as the second-most leading region in the global sector. It's possible that the regions of the United Kingdom and Germany will bring in the most revenue.

As a result of increasing research and development, as well as other exploration activities in the robotics industry, Japan, China, Singapore, South Korea, and India may lead the way in the Asia-Pacific region with the greatest CAGR.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

In February 2023, Bear Robotics, Inc., a US-based player in the market, announced the launch of Servi which, as per the company definition, is an innovative new robot that intends to revolutionize the food & service sector. The company is targeting care home and hospitality businesses to make use of AI-driven robots for mundane tasks like clearing tables and serving food & drinks

In March 2023, Bear Robotics announced another addition to its offerings with the launch of Servi Plus which boasts enhanced user experience features when compared to its predecessor. Some of the added features are an expanded 40 Kg payload and a capacity of more than 16 dishes

In July 2022, Super Eagle Technology announced the launch of the company’s AI robot server called IPAW Model L which is being regarded as a game-changing robot for the hospitality sector

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/hospitality-robots-market

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