Hospitality robots market size to grow by USD 341.91 million from 2022 to 2027; Growth driven by increasing penetration of AI in robotics industry - Technavio

NEW YORK, April 17, 2023 /PRNewswire/ -- The global hospitality robots market size is estimated to increase by USD 341.91 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 12.13% during the forecast period. The market is driven by the increasing penetration of AI in the robotics industry. Robots are programmed and are backed with cameras, sensors, and software for rapid movement in a dynamic environment. However, they are unable to use information from sensory devices to make complex decisions. Thus, to improve the efficiency of their operations, robot manufacturers are introducing AI in professional service robots. For instance, Teradyne Inc. is one of the vendors that include AI in their cameras to aid in obstacle detection and navigation. Currently, the use of AI in robots is limited. However, the capability of AI and machine learning in solving complex tasks such as programming will increase their deployment in the hospitality industry, which is expected to drive the growth of the market. Discover some insights on market size historic period (2017 to 2021) and forecast period (2023-2027) before buying the full report - Request a sample report

Global Hospitality Robots Market – Vendor Analysis

The global hospitality robots market is fragmented due to the presence of numerous global and regional vendors. To expand their customer base and gain a competitive edge, key players have undertaken a number of strategic initiatives, including partnerships, mergers and acquisitions, collaborations, and the development of new products and technologies. New product innovations, partnerships, and acquisitions are some of the other strategies adopted by vendors. In addition, the market is witnessing the emergence of new competitors. However, high product differentiation and high economies of scale of existing vendors have inhibited the entry of new players into the market. Some of the key vendors covered in the report include:

• Hyundai Motor Co. - The company offers hospitality robots that are used in various places such as businesses centers, medical care facilities, accommodation places, and restaurants.
• Keenon Robotics Co. Ltd. - The company offers dinerbot T8 hospitality robot, which is designed to be used for serving tea and water in offices, sending and receiving express deliveries, and delivering takeaway food.
• LG Electronics Inc. - The company offers hospitality robots that are designed for use in housekeeping services in hotels.
• Pudu Technology Inc. - The company offers the CLOi servebot hospitality robot, which is inbuilt with a 3D camera and LiDAR sensors. It is designed for use in commercial services in hotels and restaurants.
• Connected Robotics Inc.
• Jackys Electronic LLC
• 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.
• ST Engineering Aethon Inc.
• Tailos
• Ubtech Robotics Inc
• Knightscope Inc.

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Global Hospitality Robots Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on end-user (hotels, restaurants and bars, and travel and tourism industry), distribution channel (online and offline), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market growth in the hotels segment will be significant over the forecast period. Hotels are the prime end-users in the market. Many hotels are replacing their human personnel with robots. Multinational hotel corporations such as Marriott and Hilton use robots to increase social distancing. With the increasing number of hotels and the rising adoption of robotic automation technologies, the market will witness strong growth in the segment.

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global hospitality robots market.

• North America will account for 37% of the market growth during the forecast period. The region is the early adopter of sophisticated technologies across many industries. The presence of technologically advanced countries and the strong presence of leading vendors fuel the growth of the regional market. In addition, the demand for hospitality robots increased during the COVID-19 pandemic to ensure social distancing, which led to the adoption of more service robots in the hospitality industry. These factors are driving the growth of the hospitality robots market in North America.

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Global Hospitality Robots Market – Market Dynamics

Key Trends – 

IoT Integration with robots is identified as the key trend in the market. With the increased internet adoption among consumers, manufacturers are incorporating wireless technologies to enhance customer service delivery. The incorporation of IoT allows vendors to have real-time information about the condition of robots. It also allows end-users to remotely analyze characteristics such as temperature, CPU load, and the number of hours the robot has been operational. This ensures effective planning and scheduling of predictive maintenance. Also, the information gathered through continuous monitoring can be stored on cloud servers for the purposes of backup, reporting, diagnostics, and benchmarking. This trend is expected to positively influence the growth of the market during the forecast period.

Major challenges – 

The high investments required in the initial stages will challenge the growth of the market. Modern businesses are adopting novel methods to improve business efficiency. However, they are still focusing on limiting their capital expenditures. Hence, small and medium-sized end-users carefully consider robotics investments prior to making significant financial commitments. Also, many companies in developing and developed countries are unwilling to make large investments in new technologies. Such factors restrict the growth of the market.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this hospitality robots market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the hospitality robots market between 2023 and 2027
• Precise estimation of the size of the hospitality robots market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the hospitality robots market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of hospitality robots market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global hospitality robots market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global hospitality robots market 2017 - 2021 ($ million)

• 4.2 By End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – By End-user Segment 2017 - 2021 ($ million)

• 4.3 By Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – By Distribution channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Hotels - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Hotels - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Hotels - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Hotels - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hotels - Year-over-year growth 2022-2027 (%)

• 6.4 Restaurants and bars - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Restaurants and bars - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Restaurants and bars - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Restaurants and bars - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Restaurants and bars - Year-over-year growth 2022-2027 (%)

• 6.5 Travel and tourism industry - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Travel and tourism industry - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Travel and tourism industry - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Travel and tourism industry - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Travel and tourism industry - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by End-user 
• Exhibit 46: Market opportunity by End-user ($ million)
• Exhibit 47: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 48: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 50: Chart on Comparison by Distribution Channel
• Exhibit 51: Data Table on Comparison by Distribution Channel

• 7.3 Online - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.4 Offline - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 60: Market opportunity by Distribution Channel ($ million)
• Exhibit 61: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027 
• Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027 
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027 
• Exhibit 103: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Awabot
• Exhibit 115: Awabot - Overview
• Exhibit 116: Awabot - Product / Service
• Exhibit 117: Awabot - Key offerings

• 12.4 Bear Robotics Inc.
• Exhibit 118: Bear Robotics Inc. - Overview
• Exhibit 119: Bear Robotics Inc. - Product / Service
• Exhibit 120: Bear Robotics Inc. - Key offerings

• 12.5 Connected Robotics Inc. 
• Exhibit 121: Connected Robotics Inc. - Overview
• Exhibit 122: Connected Robotics Inc. - Product / Service
• Exhibit 123: Connected Robotics Inc. - Key offerings

• 12.6 Hyundai Motor Co.
• Exhibit 124: Hyundai Motor Co. - Overview
• Exhibit 125: Hyundai Motor Co. - Business segments
• Exhibit 126: Hyundai Motor Co. - Key news
• Exhibit 127: Hyundai Motor Co. - Key offerings
• Exhibit 128: Hyundai Motor Co. - Segment focus

• 12.7 Keenon Robotics Co. Ltd. 
• Exhibit 129: Keenon Robotics Co. Ltd. - Overview
• Exhibit 130: Keenon Robotics Co. Ltd. - Product / Service
• Exhibit 131: Keenon Robotics Co. Ltd. - Key news
• Exhibit 132: Keenon Robotics Co. Ltd. - Key offerings

• 12.8 Knightscope Inc.
• Exhibit 133: Knightscope Inc. - Overview
• Exhibit 134: Knightscope Inc. - Product / Service
• Exhibit 135: Knightscope Inc. - Key news
• Exhibit 136: Knightscope Inc. - Key offerings

• 12.9 LG Electronics Inc.
• Exhibit 137: LG Electronics Inc. - Overview
• Exhibit 138: LG Electronics Inc. - Product / Service
• Exhibit 139: LG Electronics Inc. - Key offerings

• 12.10 Pudu Technology Inc. 
• Exhibit 140: Pudu Technology Inc. - Overview
• Exhibit 141: Pudu Technology Inc. - Product / Service
• Exhibit 142: Pudu Technology Inc. - Key offerings

• 12.11 Quantum Robotics
• Exhibit 143: Quantum Robotics - Overview
• Exhibit 144: Quantum Robotics - Product / Service
• Exhibit 145: Quantum Robotics - Key offerings

• 12.12 Relay Robotics Inc.
• Exhibit 146: Relay Robotics Inc. - Overview
• Exhibit 147: Relay Robotics Inc. - Product / Service
• Exhibit 148: Relay Robotics Inc. - Key news
• Exhibit 149: Relay Robotics Inc. - Key offerings

• 12.13 Richtech Robotics Inc. 
• Exhibit 150: Richtech Robotics Inc. - Overview
• Exhibit 151: Richtech Robotics Inc. - Product / Service
• Exhibit 152: Richtech Robotics Inc. - Key offerings

• 12.14 SoftBank Robotics Group Corp. 
• Exhibit 153: SoftBank Robotics Group Corp. - Overview
• Exhibit 154: SoftBank Robotics Group Corp. - Product / Service
• Exhibit 155: SoftBank Robotics Group Corp. - Key offerings

• 12.15 ST Engineering Aethon Inc. 
• Exhibit 156: ST Engineering Aethon Inc. - Overview
• Exhibit 157: ST Engineering Aethon Inc. - Product / Service
• Exhibit 158: ST Engineering Aethon Inc. - Key offerings

• 12.16 Tailos
• Exhibit 159: Tailos - Overview
• Exhibit 160: Tailos - Product / Service
• Exhibit 161: Tailos - Key offerings

• 12.17 Ubtech Robotics Inc
• Exhibit 162: Ubtech Robotics Inc - Overview
• Exhibit 163: Ubtech Robotics Inc - Product / Service
• Exhibit 164: Ubtech Robotics Inc - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 165: Inclusions checklist
• Exhibit 166: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 167: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 168: Research methodology
• Exhibit 169: Validation techniques employed for market sizing
• Exhibit 170: Information sources

• 13.5 List of abbreviations 
• Exhibit 171: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/

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