What Is The Scope Of The Global Hospitality Robots Market?
Hospitality robots refer to automated machines designed to assist and enhance guest experiences within the hospitality industry. These robots can perform various tasks, such as greeting guests, providing information about facilities and services, delivering items to guest rooms, and even cleaning or maintaining areas within hotels, restaurants, or other hospitality establishments.
Hospitality Robots Global Market Report 2024 provides data on the global hospitality robots market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Hospitality Robots market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Hospitality Robots Market Expected To Grow In Size And Annual Rates?
The hospitality robots market size has grown exponentially in recent years. It will grow from $0.43 billion in 2023 to $0.55 billion in 2024 at a compound annual growth rate (CAGR) of 28.8%. The growth in the historic period can be attributed to benefits of automated work over human labor, enhanced robot capabilities, enhanced customer satisfaction, need for higher productivity and efficiency. The hospitality robots market size is expected to see exponential growth in the next few years. It will grow to $1.52 billion in 2028 at a compound annual growth rate (CAGR) of 28.9%. The growth in the forecast period can be attributed to adoption of robotic automation in hospitality industry, increasing influx of tourists worldwide, growing tourism industry, decreasing number of staff members in hotel. Major trends in the forecast period include technological advancement, robotics innovation, integration of IoT with robots, innovative technologies, introduction of AI-driven solutions.
What Main Forces Are Fueling Expansion In The Hospitality Robots Market?
The growth of the tourism industry is anticipated to drive the expansion of the hospitality robots market in the coming years. Tourism encompasses all travel activities for leisure, cultural exploration, or business purposes, contributing to global economic growth and cultural exchange. Hospitality robots are increasingly integrated across sectors like customer service, room assistance, cleaning, and entertainment, enhancing guest experiences and service efficiency. For example, as reported by the US Department of Commerce in June 2022, international arrivals for travel and tourism in US states increased to 22.1 million in 2021 from 19.2 million in 2020. Therefore, the growth of the tourism industry is driving the growth of the hospitality robot market.
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What Are The Primary Segments In The Global Hospitality Robots Market?
The hospitality robots market covered in this report is segmented –
1) By Type: Delivery Robots, Front Desk Robots, Cleaning Robots, Other Types
2) By Sales Channel: Online, Offline
3) By End User: Hotels, Bars And Restaurants, Travel And Tourism, Other End-Users
Which Key Trends Are Driving Changes In The Hospitality Robots Market?
Leading companies in the hospitality robots market are innovating with AI-integrated service robots to enhance industry competitiveness. These robots use advanced AI and autonomous technology to streamline hospitality processes, allowing staff to focus on more productive tasks. For instance, in February 2023, Bear Robotics Inc., a US-based robotics design company, introduced Servi, a new service robot aimed at transforming the food service industry. Servi assists with serving drinks and food, clearing tables, and allows staff to concentrate on customer service. It features AI, autonomous driving capabilities, LiDAR sensors, and multiple cameras for intelligent navigation, learning table locations, and returning to its post after deliveries.
What Is The Leading Region In The Hospitality Robots Market?
North America was the largest region in the hospitality robots market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the hospitality robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
