|Market Size in 2022
|Market Forecast in 2030
|CAGR (in %)
|USD 300 Million
|USD 3100 Million
Hospitality Robots Market
The global hospitality robots market size was worth around USD 300 Million in 2022 and is predicted to grow to around USD 3100 Million by 2030 with a compound annual growth rate (CAGR) of roughly 25.51% between 2023 and 2030. The report analyzes the global hospitality robots market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the hospitality robots industry.
Hospitality robots are semi-autonomous or autonomous robots that are gaining high popularity in the hospitality industry. They can be used for a wide variety of tasks that would otherwise be done by a human. Some of these tasks include serving food & drinks, welcoming guests, cleaning rooms, and providing room service, assisting with luggage. As the demand and investments for complete automation across sectors are on the rise, the hospitality robots industry can expect higher revenue during the forecast period. There are different types of robots that are specifically designed to cater to the needs of the hospitality industry including cleaning robots, humanoid robots, service robots, and others. There are several factors that are expected to work in the favor of the industry but it may also have to deal with severe challenges and roadblocks. Some of the key players that are currently leading the industry growth are SoftBank Robotics, Savioke, Inc., Panasonic Corporation, LG Electronics, Inc., and Knightscope, Inc.
Growing need for higher productivity and efficiency to propel market demand
The global hospitality robots market is projected to grow owing to the increasing demand for higher productivity and efficiency in the hospitality segment. As hotel companies and other hospitality service providers are under intense competition from new and emerging business players in the sector, they are investing in technology and systems that allow them to provide improved customer experience as it is the only way companies can manage to survive in this hospitality industry. Associated services and their quality are crucial to these businesses since meeting customer expectations is important for revenue.
This is a major reason why hotel and restaurant owners are adopting robots so that they can improve efficiency and productivity. Robots are capable of performing duties like cleaning rooms and providing customer service so that the human staff can be employed for other serious and non-mundane tasks. Furthermore, the growing demand for personalized and customized experiences when they travel could lead to more robot employment.
Limited functionality to restrict hospitality robots market growth
Although hospitality robots are efficient in their designated tasks since they run on technological components, the current-age robots are limited in terms of functional outputs. For instance, robots lack the necessary intellectual or emotional skills that humans possess in the face of sudden or unexpected events. Since robots are programmed to perform specific tasks, it will be difficult for them to provide the same quality of assistance while handling complex customer service issues.
Growing integration with other technologies to provide growth opportunities
Since the global hospitality robots industry holds high potential, it is witnessing a surge in investment rate as robot-making companies work toward the development of more capable and sophisticated robots. This can be achieved by integrating advanced technologies like artificial intelligence (AI) and machine learning (ML) along with others to improve the performance efficiency of the robots and make them capable of handling more difficult or unpredictable situations. Furthermore, the market is yet to completely explore the potential of emerging economies.
Resistance from human labor to act as a major challenge
Although it comes with excellent benefits, automation has always been a threat to human labor since automated mechanisms can perform the duty of a hundred employees in a shorter time. The human resources working in the hospitality sector may presume that the robots could lead to employment threats since owners may prefer to utilize the benefits of robots. Hence it is crucial for hospitality robots industry players to ensure that a balanced system is maintained in which all stakeholders can benefit.
The global hospitality robots market is segmented based on type, sales channel, end-user, and region.
Based on type, the global market segments are delivery robots, front desk robots, cleaning robots, and others. In 2022, the industry registered the highest growth in the delivery robots segment. They are used in the hospitality segment to deliver food, drinks, and other items to the guests in their rooms or other areas within the vicinity of the hotel. These robots are programmed to navigate through various common obstacles that exist in a hotel setting to ensure the smooth delivery of the product. The cleaning robots are programmed to clean or sanitize common areas, guest rooms, and other spaces in the hotel. Delivery robots typically cost between $10,000 to $30,000 USD.
Based on sales channel, the global hospitality robots market is segmented into online and offline.
Based on end-user, the global market divisions are travel & tourism industry, and hotel, restaurants & bars. The industry is expected to witness the highest CAGR in the hotel, restaurant, and bars segment during the forecast period. This segment includes units like bars, hotels, resorts, motels, restaurants, cafes, and other food and beverage establishments. The business utilizes pre-programmed robots to automate several manual and everyday tasks like delivering items to guests, cleaning, and providing customer service. The travel and tourism industry uses hospitality robots to improve guest experience but is nonetheless a small market as compared to the latter type. In 2019, the HoReCa (hotels, restaurants, and catering) industry was over USD 4 trillion.
|Hospitality Robots Market Research Report
|Market Size in 2022
|USD 300 Million
|Market Forecast in 2030
|USD 3100 Million
|CAGR of 25.51%
|Number of Pages
|Key Companies Covered
|Omron, Softbank Robotics, LG Electronics, Savioke, Cyberdyne, Knightscope, Blue River Technology, Aethon, Panasonic, Fanuc, Simbe Robotics, RobotLAB, Pal Robotics, ABB, Boston Dynamics, InVia Robotics, Fetch Robotics, Intuitive Surgical, Sarcos Robotics, Hanson Robotics, BionicHIVE, Universal Robots, JBT Corporation, Kuka, and Stanley Robotics.
|By Type, By Sales Channel, By End-User, And By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
|2017 to 2021
|2023 - 2030
|Avail customized purchase options to meet your exact research needs. Request For Customization
North America to register the highest growth
The global hospitality robots market is expected to witness the highest growth in North America with the US leading the regional market share. Factors like the presence of key industry players that are continuously working toward exploring the potential of developing and producing advanced robots across industries along with hospitality, and rising adoption rates are crucial to regional growth. Growing demand for automation and freeing up the time of human resources to be used for other crucial tasks is working in the favor of growth in North America.
Europe is expected to become the second-most leading region in the global industry due to growing adoption and investment in hospitality robots. The regions of the UK and Germany may lead with the highest revenue.
In Asia-Pacific, Japan, China, Singapore, South Korea, and India may lead with the highest CAGR due to growing research & development along with other exploration activities in the robotic sector.
The leading players in the global hospitality robots market are:
By Sales Channel
Hospitality robots are semi-autonomous or autonomous robots that are gaining high popularity in the hospitality industry.
The global hospitality robots market is projected to grow owing to the increasing demand for higher productivity and efficiency in the hospitality segment.
According to study, the global hospitality robots market size was worth around USD 0.3 billion in 2022 and is predicted to grow to around USD 3.1 billion by 2030.
The CAGR value of the hospitality robots market is expected to be around 25.51% during 2023-2030.
The global hospitality robots market is expected to witness the highest growth in North America with the US leading the regional market share.
The leading players in the global hospitality robots market are Omron, Softbank Robotics, LG Electronics, Savioke, Cyberdyne, Knightscope, Blue River Technology, Aethon, Panasonic, Fanuc, Simbe Robotics, RobotLAB, Pal Robotics, ABB, Boston Dynamics, InVia Robotics, Fetch Robotics, Intuitive Surgical, Sarcos Robotics, Hanson Robotics, BionicHIVE, Universal Robots, JBT Corporation, Kuka, and Stanley Robotics.