The global hospitality robots market size was worth around USD 300 Million in 2022 and is predicted to grow to around USD 3100 Million by 2030 with a compound annual growth rate (CAGR) of roughly 25.51% between 2023 and 2030.
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➤ The market demand is being driven by a growing demand for increased productivity and efficiency.
The global hospitality robots market is anticipated to expand in response to the growing demand for increased productivity and efficiency within the hospitality sector. Hotel companies and other hospitality service providers are investing in technology and systems that enable them to provide a superior customer experience in order to survive in the hospitality industry, where they are facing intense competition from new and emerging business players. These businesses are dependent on the quality of associated services, as revenue is contingent upon meeting consumer expectations.
➤ The market development of hospitality robots is restricted by their limited functionality.
The functional outputs of contemporary hospitality robots are restricted, despite their efficiency in their designated duties, which is attributed to their technological components. For example, robots are deficient in the intellectual and emotional capabilities that humans possess in response to sudden or unforeseen events. It will be challenging for robots to provide the same level of assistance when addressing intricate customer service issues, as they are designed to perform specific duties.
➤ Increasing the integration of other technologies to create growth opportunities
The investment rate in the global hospitality robots industry is increasing as robot-making companies strive to create more sophisticated and capable robots, as the industry has significant potential. In order to enhance the performance efficacy of robots and enable them to handle more challenging or unpredictable situations, it is possible to integrate advanced technologies such as artificial intelligence (AI) and machine learning (ML) with others. Additionally, the market has yet to fully investigate the potential of emerging economies.
➤ Human labour resistance poses a significant obstacle.
Automation has consistently posed a threat to human labour, despite its numerous advantages, as automated mechanisms can complete the tasks of one hundred employees in a fraction of the time. The human resources professionals in the hospitality sector may assume that the robots could result in employment threats, as proprietors may choose to capitalise on the advantages of robots. Consequently, it is imperative for participants in the hospitality robots industry to guarantee the preservation of a balanced system that benefits all stakeholders.
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The Global Hospitality Robots Market is segmented based on product, application and region
Global Hospitality Robots Market: Product Segment Analysis
● Delivery Robots
● Front Desk Robots
● Cleaning Robots
● Others
Global Hospitality Robots Market: Application Segment Analysis
● Travel & Tourism Industry
● Hotels, Restaurants & Bars
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The global Hospitality Robots market profiles key players such as:
● 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
???? Recent Developments:
• Bear Robotics, Inc., a US-based market player, announced the introduction of Servi in February 2023. Servi is a new, innovative robot that is designed to revolutionise the food and service sector, according to the company. The company is concentrating on the care home and hospitality industries, where it intends to implement AI-powered robots to perform routine duties such as clearing tables and serving food and beverages.
• Bear Robotics introduced Servi Plus in March 2023, which offers improved user experience features in comparison to its antecedent. An expanded 40 Kg payload and a capacity of over 16 dishes are among the additional features.
➤ North America is expected to experience the most significant growth.
North America is anticipated to experience the most significant growth in the global hospitality robotics market, with the United States occupying the largest regional market share. Regional development is contingent upon factors such as the presence of key industry players who are consistently engaged in the exploration of the potential of developing and producing advanced robots across industries, including hospitality, and the increasing adoption rates. North America is experiencing growth due to the increasing demand for automation and the freeing up of human resources to focus on other critical responsibilities.
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