DUBLIN--(BUSINESS WIRE)--The "Hospitality Robots Market by Type and end user Sales Channel: Global Opportunity Analysis and Industry Forecast 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The hospitality robots market was valued at $295.5 million in 2020, and is estimated to reach $3,083 million by 2030, registering a CAGR of 25.5% from 2021 to 2030.
From artificial intelligence chatbots to auxiliary robots, the hotel industry is developing robots to support customer service processes. Hotel robots are used to improve the quality of guest experience. Front desk robots have simplified the booking process. Due to the impact of COVID-19 on the hotel industry, the need to avoid human-to-human contact and labor shortages makes the introduction of robots into hotels and restaurants a new urgency. In the digital age of the hotel industry, huge change will happen to the emergence of hotel industry robots in 2030.
The current crisis opens up opportunities for artificial intelligence (AI), other technological advancements, and new prospects for robotics in the travel, tourism, and hospitality industries. The emergence of artificial intelligence makes robots have social intelligence and emotional maturity. Intelligent robots can decipher emotional signals and people's reactions. One interacts with humans through artificial intelligence (AI). These robots perform various tasks in the travel, tourism, and hotel industries such as providing security services, performing work related to housekeeping, delivery carrying luggage, and other daily tasks. COVID-19 has strengthened the industry through robotics. If the latest developments in robotics continue, it is expected that by 2030s, a quarter of hotel jobs in the U.S. will be automated. Attributed to the highly adaptable robotic technology of the tourism and hotel industries, the future travel experience may also change. The "travel guide" will include "travel robot destinations" in the post-COVID-19 world.
Robots have become a familiar part of a traveler's journey. According to CNBC, robots are offering contactless options to guests at airports around the world, including LaGuardia Airport in the U.S., Munich International Airport in Germany, and Incheon International Airport in Seoul airport check-in process. It goes without saying that guests would expect a similar experience when entering hotels, and this technology has several important advantages such as providing contactless experience. In the wake of the global pandemic, robotic technology can be an excellent option for providing touch-free and physical contact less services to guest and improving the overall health and safety throughout the hotel. Collectively, emergence of artificial intelligence and growing need to automate the services industries through robots are expected to garner the growth of the hospitality robots market during the forecast period.
The report segments the hospitality robots market into type, end user, sales channel, and region. On the basis of type, the market is categorized front desk robots, delivery robots, cleaning robots, and others. On the basis of end user, it is segregated into hotels, restaurants and bars, and travel and tourism industry. According to sales channel, it is bifurcated into online and offline. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, the Netherlands, and Rest of Europe), Asia-Pacific (Japan, China, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, United Arab Emirates, South Africa, and Rest of LAMEA).
Key Benefits
- The study provides an in-depth analysis of the global hospitality robots market, with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis from 2020 to 2030 is provided to showcase the financial competency of the market.
- Porter's five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.
Market Dynamics
Drivers
- Increased advantages of robot automated work over human work
- Increase in utility for robots in hospitality industries
- Penetration of automation in commercial appliances
Restraints
- High initial acquisition cost
- Limitations and challenges in working in untested environments and conditions
Opportunity
- Increase in concern for safety and cleanliness at hotels, restaurants, and bars
Companies Mentioned
- Savioke
- Connected Robotics
- BotsAndUs
- Travelmate Robotics
- Hyundai Robotics Co. Ltd
- Knightscope Inc
- Maidbot
- Aethon Inc.
- Softbank Robotics
- Ubtech Robotics Inc
For more information about this report visit https://www.researchandmarkets.com/r/7b6k5n
