Global Hospitality Robots Market

Hospitality Robots Market Size, Share, Growth Analysis, By Type(Service Robots, Security Robots, Cleansing Robots, And Others), By Application(Room Service and Delivery, Cleaning and Maintenance, guest service and assistance, Security and surveillance), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25S2055 | Region: Global | Published Date: May, 2024
Pages: 221 | Tables: 65 | Figures: 71

Hospitality Robots Market Insights

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.

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FAQs

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).

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. 'Relay Robotics Inc.', 'LG Electronics Co. Ltd', 'Bear Robotics, Inc.', 'Hyundai Robotics Co., Ltd.', 'Connected Robotics Inc.', 'Keenon Robotics Co. Ltd.', 'LG Electronics Inc.', 'Pudu Technology Inc.', 'Pypestream Inc.', 'Quantum Robotics', 'Relay Robotics Inc.', 'Richtech Robotics Inc.', 'SAR Elektronic GmbH', 'Shanghai Gaussian Automation Tech. Dev. Co. Ltd.', 'sliQue Robotics and Technology', 'SoftBank Robotics Group Corp.'

The demand for higher productivity and efficiency in the hospitality industry is driving the growth of the hospitality robot's market. With the sector facing intense competition from new players, hotel companies and other service providers are investing in technology and systems to improve customer experience. Meeting customer expectations is crucial for revenue in this industry, and associated services and their quality are key to achieving this goal. To enhance efficiency and productivity, hotel and restaurant owners are adopting robots to perform tasks such as cleaning rooms and providing customer service. This allows human staff to focus on more important and non-mundane tasks. Moreover, the growing demand for personalized and customized experiences when traveling could lead to more robot deployment in the hospitality industry.

As consumers become more accustomed to interacting with technology in various aspects of their lives, there is a growing acceptance of robots in hospitality settings. Guests are increasingly open to engaging with robots for tasks such as check-in, concierge services, and entertainment. This trend is driving increased adoption of robotics solutions by hospitality businesses seeking to meet the evolving expectations of tech-savvy consumers.

Asia Pacific has been dominating the 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.

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Global Hospitality Robots Market

Report ID: SQMIG25S2055

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