NEW
YORK, May 17, 2024 /PRNewswire/ -- The
global hospitality robots market size is estimated to
grow by USD 471.77 mn from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 14.19% during the forecast period.
For more insights on the forecast market size and
historic data (2018 - 2022) - Download Free sample
report in minutes
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Hotels,
Restaurants and bars, and Travel and tourism industry),
Distribution Channel (Online and Offline), and Geography (North
America, Europe, APAC, South America, and Middle East and
Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Awabot, Bear Robotics
Inc., Connected Robotics Inc., Hyundai Motor Co., KNEXT GmbH,
Knightscope Inc., Pudu Technology Inc., Pypestream LLC,
Quantum Robotics, Relay Robotics Inc., Richtech Robotics Inc.,
Shanghai Gaussian Automation Technology Development CO. LTD.,
Shanghai Qinglang Intelligent Technology Co. Ltd., Singapore
Technologies Engineering Ltd., sliQue Robotics, SoftBank Robotics
Group Corp., Tailos, UBTECH ROBOTICS CORP LTD., and LG Electronics
Inc.
|
Key Market Trends Fueling Growth
The IoT revolution is transforming the hospitality industry
through the integration of robotics. Robots, including mobile
guidance systems, cleaning machines, and porter bots, are employed
for enhanced customer satisfaction and operational efficiency.
Hospitals, hotels, and restaurants are adopting AI and ML-enabled
robot assistants for language translation, luggage handling, and
security. Innovations such as humanoid robots and AI robot servers
are addressing the manpower crunch in the industry. Travelmate
Robotics is a notable example of IoT-driven hospitality robotics.
These technologies offer utility in sanitization, motion control
systems, and wireless communications, leading to significant
innovations in the hospitality sector.
Market Challenges
- Hospitality robots, integrated with IoT technology, are
revolutionizing the hotel, restaurant, and facilities industries.
These robots, available in various sizes and functionalities, range
from USD5,000 to USD100,000. Smaller robots, such as porter robots
and AI robot servers, cost between USD5,000 and USD20,000. Larger, sophisticated robots,
including humanoid robots and multilingual robots, can cost up to
USD100,000 or more. Additional costs
may include customization, maintenance contracts, and training
programs. The hospitality industry benefits from robots through
improved customer service, operational efficiency, and reduced
manpower requirements. Innovations in robotics, such as AI, ML, and
autonomous navigation, continue to shape this market.
Research report provides comprehensive data on
impact of trend, driver and challenges - Buy
Report
Segment Overview
This hospitality robots market report extensively covers market
segmentation by
- End-user
- 1.1 Hotels
- 1.2 Restaurants and bars
- 1.3 Travel and tourism industry
- Distribution Channel
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Hotels- The Hospitality Robots Market
exhibits significant growth, with the end-user segment led by
hotels. IoT integration and the utility of robots in the
hospitality industry are driving this trend. Hotels are adopting
robots to enhance customer service, operational efficiency, and
address manpower crunch. Innovations such as multilingual robots,
porter robots, humanoid robots, and AI robot servers are gaining
traction. Henn-na Hotel in Nagasaki,
Japan, is a notable example, utilizing robots for check-in,
concierge, and housekeeping. Restaurants and facilities are also
embracing robotics, with AI and ML-enabled mobile guidance robots,
cleaning robots, and luggage handling robots streamlining
operations. Security and sanitization are further areas of
application, with Travelmate Robotics' autonomous robots offering
advanced solutions. The hospitality industry's focus on customer
satisfaction and operational efficiency continues to fuel the
demand for hospitality robots.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Market Research Overview
The Robotics market in the Hospitality industry is experiencing
significant growth due to the integration of automation and
technology to enhance customer experience and streamline
operations. Robots are being utilized in various applications such
as housekeeping, food and beverage service, and guest services.
These robots offer benefits like increased efficiency, improved
hygiene, and reduced labor costs. The use of robots in the
hospitality sector is also contributing to the creation of new
jobs, as they require maintenance and programming. The market for
hospitality robots is expected to grow at a steady pace in the
coming years, driven by advancements in technology and the
increasing demand for personalized and efficient services. The
implementation of robots in the hospitality industry is
revolutionizing the way services are delivered, making it more
convenient and enjoyable for guests.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Hotels
- Restaurants And Bars
- Travel And Tourism Industry
- Distribution Channel
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio