Hospitality Robots Market: Size is set to Grow at a Remarkable Pace in the Coming Years

Posted January 27, 2023 by allied90

Hospitality Robots Market: Size is set to Grow at a Remarkable Pace in the Coming Years
According to a new report published by Allied Market Research, titled, “Hospitality Robots Market by Type, End User, Sales Channel and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030,” The global hospitality robots market size is expected to reach $3,083 million by 2030 at a CAGR of 25.5% from 2021 to 2030.

There is no denying that robots are becoming daily assistants in the hotel industry and appearing in hotels and restaurants across the world. Robots are also utilized in hotels, restaurant, & bar for housekeeping, cleaning, and delivering food items to guest rooms. Furthermore, these robots are also programmed to accept order, prepare meals and drinks for customers. Thus, growing advancement in the hospitality robots market and increasing utility of robots in hotel, restaurants, and bars are expected to accelerate the growth of the hospitality robots market during the forecast period. The COVID-19 pandemic resulted in a positive impact on the hospitality robots market. Attributed to this pandemic, not only service robots but also disinfection robots are gaining considerable popularity among hospitality services providing companies. Many countries have opened their borders to welcome people. The tourism industry is speeding up again. Many hotels provide guests with a quarantine period. Due to lack of personnel, hotels are looking for a complete robot solution for the hotel. Various hospitality robots can be deployed in the hotel according to their use and purpose, such as luggage robots, room service robots or room delivery robots, carpet vacuuming robots, check-in robots, and children’s entertainment robots or children’s play robots, and now the popularly used disinfection robots.

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Rapid growth of the hospitality and travel & tourism industry and adoption of robotic automation in hotels, restaurant, bar, and event industries are majorly boosting the growth of the market during the forecast period. Furthermore, increase in concern for hotel premises; safety and rise in utility of the robots in hotel, events, and restaurants are spurring the growth of the market during the forecast period. Various hospitality robots are programmed for special purpose and unique allocated task according to the conditions and situation, and these robots are manufactured according the requirements of the clients.

According hospitality robots market trends, on the basis of type, the delivery robot segment was valued at $60.6 million in 2020 and is expected to increase at $725.6 million by 2030, at CAGR of 27.5%, during the forecast period. Delivery robots are quite popular. When a guest enters the hotel premises, delivery robots welcome guests and carry their luggage to respective rooms. Various hotels are using robots for luggage carrying and delivering food items. For instance, New York-based Yotel hotel has luggage carrying robot named Yobot, which automatically collects and delivers guests’ luggage. Yobot can handle around 300 items of luggage a day. Growing utility and advancement in delivery robots is expected to surge the demand for delivery robots during the forecast period.

According hospitality robots market analysis, by end user, travel and tourism segment was valued at $57.4 million in 2020 and is expected to increase to $668.2 million by 2030, at a CAGR of 27.2% during the forecast period. Rapid growth of the travel and tourism industry globally and adoption of robotic automation to offer quick services to customers are expected to favor the growth of the product market during the forecast period. Travelers are opting for unique and exotic holiday destinations to get away from daily hectic schedule and gain valuable experiences. Private, quite, serene, and exotic locations are major factors that people consider while choosing their travel location. Private islands and luxury hotel stays have been voted as top preference by luxury travelers, which increase the demand for luxury and super premium hotel services. Robotic automation in hotel services can increase the quality of hotel services and can offer greater ambience to the customer, thereby propelling the growth of the hospitality robots market.

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According to sales channel, in 2020, the online segment gained the highest share of 57.3% in global market. Increase in internet users, growing digital literacy, and easy availability have led to an exponential rise in number of online sales channels across the globe. The trend of selling advanced consumer and commercial robots online is on rise due to the benefits offered such as competitive pricing, payment security, and payback offers. According hospitality robots market opportunities, region-wise, the Asia-Pacific hospitality robots industry was valued at 75.6 million in 2020, and is expected to increase at 1,038.3 million by 2030 at CAGR of 29.2% during the forecast period. This is majorly attributed to the rapid adoption of hospitality robots in Asia-Pacific and strong growth witnessed in Japan, China, and South Korea.

Reason to Buy:
✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Hospitality Robots Market.
✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the Hospitality Robots Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
✅ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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Last Updated January 27, 2023