USD 376.5 million
Report ID:
SQMIG25S2055 |
Region:
Global |
Published Date: May, 2024
Pages:
221
|Tables:
65
|Figures:
71
Global Hospitality Robots Market was valued at USD 376.5 million in 2023 and USD 472.51 million in 2024 and is poised to reach USD 2316.94 million by 2031 at a CAGR of 25.5% during the forecast period (2024-2031).
Hospitality robots are self-governing machines specifically designed to assist with various tasks in the hospitality industry, such as customer service, housekeeping, food and beverage delivery, and security. The hospitality industry is increasingly utilizing robotics to enhance customer service, with artificially intelligent chatbots, and robot assistants being deployed to improve guests' experiences. This trend is driven by the growing use of digital and automation technologies to increase customer satisfaction and operational efficiency.
Advanced digital technologies such as AI, ML, and IoT have made robotics technology more versatile, compact, multifunctional, and affordable. As a result, robots are being used more frequently in the hospitality industry to improve customer experience, brand awareness, and loyalty. Examples of robots currently being used in the hospitality industry include mobile guidance robots, cleaning robots, and food preparation and housekeeping robots. Additionally, robots are being used for luggage handling, security, sanitization, and other purposes. For instance, Travel-mate Robotics has developed a robotic suitcase that can follow its owner.
Mobile technology is also being used to order food and beverages, with robots capable of accepting orders, preparing meals and drinks, and serving them. This growing use of technology, combined with the increasing utility of robots in hotels, restaurants, and other facilities, is driving innovation and demand for hospitalization robots, encouraging vendors to develop new and innovative solutions.
Global Market Size
USD 376.5 million
Largest Segment
Service robots
Fastest Growth
Service robots
Growth Rate
25.5% CAGR
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The Global Hospitality Robots Market is divided into three segments: type, application, and region. Based on type, the market is segmented into service robots, security robots, cleansing robots, and others. Based on application, the market is segmented into room service and delivery, cleaning and maintenance, guest service and assistance, security and surveillance. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Analysis by Type
The leading segment in the global hospitality robots' market is the service robots' segment. Service robots are designed to assist humans in various tasks, including customer service, concierge services, room delivery, cleaning, and maintenance. These robots are equipped with advanced sensors, artificial intelligence (AI), and machine learning capabilities to navigate complex environments and interact with guests effectively. As hospitality businesses seek to enhance guest experiences, improve operational efficiency, and reduce labour costs, the demand for service robots in hotels, restaurants, resorts, and other hospitality establishments is increasing rapidly. Service robots play a crucial role in enhancing guest experience and operational efficiency within the hospitality industry. Within the service robots' segment, specific types of robots may dominate based on their functionality and applications. These robots contribute to improved efficiency and productivity in hospitality operations by automating repetitive tasks and freeing up human staff to focus on more complex and value-added activities. For example, robotic cleaners can autonomously navigate hotel corridors and rooms, vacuuming floors and cleaning surfaces, while robotic assistants can deliver room service orders or amenities to guest rooms, reducing wait times and improving service quality. Some of the examples of service robots are.
The fastest-growing segment within the global hospitality robots' market by type is service robots. The demand for service robots in the hospitality industry is steadily increasing as businesses recognize the potential benefits of automation for improving service quality, operational efficiency, and guest satisfaction. Many leading hospitality brands have already implemented or are exploring the use of service robots to stay competitive and meet evolving guest expectations. Particularly, the demand for cleaning robots in the hospitality industry is rapidly increasing as businesses seek innovative solutions to maintain cleanliness standards, enhance guest satisfaction, and improve operational efficiency. Many hotels, resorts, airports, and other hospitality establishments have already deployed or are considering the use of cleaning robots as part of their cleaning and sanitation protocols.
Analysis by Application
The global hospitality robots' market by application encompasses various segments that cater to the specific needs and requirements of the hospitality industry. Here are some key applications within this market:
Robots designed to deliver food, beverages, amenities, and other items to guest rooms efficiently and autonomously. These robots help streamline room service operations and enhance guest satisfaction. The fastest-growing segment in the global hospitality robots' market by application is likely to be "Room Service and Delivery." With the rising demand for contactless services and automation in the hospitality industry, delivery robots that transport food, drinks, amenities, and other items to guest rooms are experiencing significant growth. Delivery robots offer a novel and memorable guest experience, aligning with the growing preference for technology-driven services and personalized interactions and by automating delivery tasks, hotels can reduce labour costs associated with manual room service operations, leading to potential cost savings in the long run. Given these advantages and the increasing adoption of automation and robotics in the hospitality industry, the room service and delivery segment are expected to be the fastest-growing application within the global hospitality robot's market.
The fastest-growing segment in the global hospitality robots' market by application is likely to be "Cleaning and Maintenance." With the heightened awareness of cleanliness and hygiene, especially in the wake of the COVID-19 pandemic, hotels are prioritizing stringent sanitation measures. Cleaning robots offer automated and consistent cleaning solutions, ensuring thorough sanitization of guest rooms, public areas, and high-touch surfaces. Cleaning robots can operate autonomously, covering large areas efficiently and reducing the time required for cleaning tasks. This improves operational efficiency and allows human staff to focus on other guest-facing activities. As hotels and resorts continue to prioritize cleanliness and guest safety, the demand for cleaning and maintenance robots is expected to grow rapidly, making it the fastest-growing segment in the global hospitality robots' market by application.
Guest Services and Assistance: Robots that provide information, assistance, and concierge services to guests, including check-in and check-out assistance, local recommendations, and language translation services. These robots enhance the guest experience and offer personalized interactions.
Security and Surveillance: Robots equipped with surveillance cameras and sensors to monitor hotel premises for security purposes. These robots can patrol designated areas, detect suspicious activities, and provide real-time alerts to hotel staff, enhancing safety and security.
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Asia Pacific has been dominating the global hospitality robot's market. Countries like Japan and South Korea have been at the forefront of integrating robots into various aspects of hospitality, including hotels, restaurants, and customer service industries. Japan has been a leader in robotics technology, with companies like SoftBank Robotics and Toyota leading the way in developing and deploying robots for hospitality purposes. Additionally, China has also been rapidly adopting hospitality robots, especially in the context of hotels and restaurants, driven by a combination of technological advancement and a growing demand for automation in the service sector. However, it's important to note that the market dynamics can change over time due to various factors such as technological advancements, regulatory changes, and shifts in consumer preferences.
North America, particularly the United States, has been a significant player in the global hospitality robot market. While Asia Pacific has held the largest market share, North America has also been a prominent contributor to the industry's growth. The United States, in particular, has seen increasing adoption of robotics technology in the hospitality sector, including applications in hotels, restaurants, and customer service industries.
Several factors contribute to North America's presence in the hospitality robots' market, including a strong technological infrastructure, robust research and development initiatives, and a growing interest in automation and robotics across various industries. Additionally, North American companies have been actively involved in developing innovative robotics solutions tailored to the hospitality sector's needs.
Europe is also a significant player in the global hospitality robots' market, although it may not dominate the market share as much as Asia Pacific or North America. Several European countries, including Germany, the United Kingdom, France, and Italy, have been actively involved in the development and adoption of robotics technology in the hospitality sector.
In Europe, hospitality robots are used in various applications, including hotels, restaurants, airports, and healthcare facilities. These robots are employed for tasks such as room service delivery, cleaning, customer service, and entertainment, among others. Factors contributing to Europe's presence in the global hospitality robots market include a strong emphasis on technological innovation, robust research and development activities, and increasing investments in automation and robotics. Additionally, Europe's hospitality industry's growing interest in improving efficiency, enhancing customer experiences, and addressing labour shortages has driven the adoption of robotics solutions.
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The hospitality robotics industry is constantly evolving and highly competitive as companies strive to develop robots that meet the needs and preferences of hospitality businesses and their customers Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, technological innovation, pricing strategies, and customer service to enhance their presence in the market.
Companies focus on continuous product innovation to differentiate their robots from competitors and address evolving customer needs. This may include developing robots with advanced features such as enhanced AI capabilities, improved navigation systems, multilingual support, and customizable interfaces. By offering unique and cutting-edge solutions, companies can attract customers and establish themselves as leaders in the market. Companies may also pursue mergers or acquisitions to consolidate their market position, acquire innovative technologies, or expand their product portfolio. Acquiring smaller robotics startups or technology firms specializing in AI, robotics, or automation can provide access to talent, intellectual property, and new market opportunities. Mergers and acquisitions also enable companies to eliminate competitors and strengthen their competitive position in the market.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Our research on the Global Hospitality Robots Market shows that it is currently experiencing significant growth, which can be attributed to factors such as technological advancements, and a greater emphasis on enhancing guest experience and operational efficiency. This market comprises a wide range of robots that are specifically designed to be used in hospitality settings, such as hotels, restaurants, airports, and theme parks. Delivery robots have exhibited the highest Compound Annual Growth Rate (CAGR) due to the increasing popularity of food delivery apps, as well as the demand for contactless delivery following the impact of the COVID-19 pandemic. The hospitality robot's industry is highly competitive and constantly evolving, as companies strive to develop robots that cater to the needs and preferences of hospitality businesses and their customers. With the continuous advancement of technology and changing customer expectations, the market is expected to expand and diversify, creating new opportunities for growth and progress.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 376.5 million |
Market size value in 2031 | USD 2316.94 million |
Growth Rate | 25.5% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Hospitality Robots Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hospitality Robots Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hospitality Robots Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Hospitality Robots Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG25S2055
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