Overview and Scope
Hospitality robots refer to automated machines designed to assist and enhance guest experiences within the hospitality industry. These robots can perform various tasks, such as greeting guests, providing information about facilities and services, delivering items to guest rooms, and even cleaning or maintaining areas within hotels, restaurants, or other hospitality establishments.
Sizing and Forecast
The hospitality robots market size has grown exponentially in recent years. It will grow from $0.43 billion in 2023 to $0.55 billion in 2024 at a compound annual growth rate (CAGR) of 28.8%. The growth in the historic period can be attributed to benefits of automated work over human labor, enhanced robot capabilities, enhanced customer satisfaction, need for higher productivity and efficiency.
The hospitality robots market size is expected to see exponential growth in the next few years. It will grow to $1.52 billion in 2028 at a compound annual growth rate (CAGR) of 28.9%. The growth in the forecast period can be attributed to adoption of robotic automation in hospitality industry, increasing influx of tourists worldwide, growing tourism industry, decreasing number of staff members in hotel. Major trends in the forecast period include technological advancement, robotics innovation, integration of IoT with robots, innovative technologies, introduction of AI-driven solutions.
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Segmentation & Regional Insights
The hospitality robots market covered in this report is segmented –
1) By Type: Delivery Robots, Front Desk Robots, Cleaning Robots, Other Types
2) By Sales Channel: Online, Offline
3) By End User: Hotels, Bars And Restaurants, Travel And Tourism, Other End-Users
Top 5 Major Players:
- LG Electronics Inc.;
- Panasonic Corporation;
- Softbank Robotics Group Corp.;
- ABB Ltd.;
- Omron Corporation
North America was the largest region in the hospitality robots market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the hospitality robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growth of the tourism industry is expected to propel the growth of the hospitality robots market going forward. The tourism industry encompasses all travel and leisure activities undertaken by individuals or groups for recreational, cultural, or business purposes. Individuals seeking leisure, cultural exploration, business opportunities, and escape drive the demand for the tourism industry, driving global economic growth, cultural exchange, and personal enrichment. The tourism industry integrates hospitality robots across various sectors, from customer service and room assistance to cleaning and entertainment, enhancing guest experiences, efficiency, and service quality. For instance, in June 2022, according to reports shared by the US Department of Commerce, a US-based executive department of the federal government, international arrivals for travel and tourism in US states increased to 22.1 million in 2021 from 19.2 million in 2020. Therefore, the growth of the tourism industry is driving the growth of the hospitality robot market.
Key Industry Players
Major companies operating in the hospitality robots market report are LG Electronics Inc.; Panasonic Corporation; Softbank Robotics Group Corp.; ABB Ltd.; Omron Corporation; Fanuc Corporation; Kuka AG; Boston Dynamics Inc.; Aethon Inc.; Simbe Robotics Inc.; Sarcos Technology and Robotics Corporation; Stanley Robotics; Pypestream Inc.; Savioke Inc.; Bear Robotics Inc.; Blue Frog Robotics ; Connected Robotics Inc.; Knightscope Inc.; PAL Robotics SL; Hyundai Robotics Co. Ltd.; RobotLAB Inc.; Relay Robotics Inc.; Tailos Inc.; Hanson Robotics Ltd.
The hospitality robots market report table of contents includes:
1. Executive Summary
2. Hospitality Robots Market Characteristics
3. Hospitality Robots Market Trends And Strategies
4. Hospitality Robots Market – Macro Economic Scenario
5. Global Hospitality Robots Market Size and Growth
….
32. Global Hospitality Robots Market Competitive Benchmarking
33. Global Hospitality Robots Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hospitality Robots Market
35. Hospitality Robots Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Hospitality Robots Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Hospitality Robots Market, Segmentation By Sales Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Hospitality Robots Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: LG Electronics Inc. Financial Performance
Table 75: Panasonic Corporation Financial Performance
Table 76: Softbank Robotics Group Corp. Financial Performance
Table 77: ABB Ltd. Financial Performance
Table 78: Omron Corporation Financial Performance
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