Newark, July 31, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 350 million in 2023 global hospitality robot market will reach USD 3259.62 million in 2033. In essence, robots are extremely sophisticated devices that have been programmed to carry out certain tasks in response to user requests and needs. Robots for hospitality are made especially for the hospitality industry. They improve or automate the effectiveness of jobs, deeds, procedures, and systems in the hospitality sector, including those in lodging facilities, eateries, tourism destinations, and other hospitality-related locations. They are autonomous, automated devices that can navigate thanks to sensors, cameras, and pertinent software.
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This allows them to carry out their duties in a safe manner without the need for human assistance. Using an interactive user interface that incorporates voice recognition or touchscreens is another option. They are modified to perform certain services that are necessary for hotels and restaurants, such as communication capabilities to transfer data around the establishment seamlessly and storage sections for room deliveries and cleaning duties for housekeeping. They consistently deliver high-quality services with exceptional efficiency. They are also employed in managing and organising the operations and logistics of hotels and other buildings, as well as improving security. They maintain the same level of service consistency around-the-clock. Additionally, they have software that collects data and analyses it to enhance services and raise client happiness.
Key Insight of the Global Hospitality robot Market
Asia Pacific will dominate the market during the forecast period.
Despite having superior technology, nations like South Korea and Japan struggle with a manpower shortage. In order to address their labour scarcity issues, they have adopted technology such as hospitality robots. Because people in technologically advanced economies are accustomed to seeing these automated devices in other industries, they are also more receptive to robots in the hospitality industry. The region's increasing dominance in the worldwide industry is a result of ongoing research and development efforts aimed at improving the hospitality robot. In order to fulfil the growing demand in the face of a labour crisis, the burgeoning tourist and travel business, which includes a strong chain of hotels, restaurants, and pubs among other establishments, provides incentives for using robots. The market's expansion is further aided by supporting government policies and a favourable regulatory environment.
In 2023, the front desk robots segment dominated the market with the largest market share of 40% and revenue of 140 million.
The type segment is divided into front desk robots, mobile guidance robots, delivery robots, cleaning robots, and others. In 2023, the front desk robots segment dominated the market with the largest market share of 40% and revenue of 140 million.
In 2023, the hotels segment dominated the market with the largest market share of 58% and revenue of 203 million.
The end user segment is divided into hotels, bars and restaurants, travel and tourism, and others. In 2023, the hotels segment dominated the market with the largest market share of 58% and revenue of 203 million.
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Advancement in market
Brick Hospitality included guest service robots into the everyday operations of all of its hotels in response to the increasing demand for streamlined and effective guest services. The only hotel management firm in San Diego employing guest service robots at every site they own and operate is this well-known company. This innovative project demonstrates Brick Hospitality's dedication to creativity and first-rate customer care.
Market Dynamics
Driver: shortages of workers in the hospitality sector.
In addition to an ageing population, most nations, particularly wealthy ones with thriving travel and tourist sectors, are seeing a decline in the birth rate. These countries are experiencing a workforce shortage as a result of these demographic changes. Two of these nations' best examples are South Korea and Japan. Another change in the demographics has been observed in the labour market, where there is a growing desire for well-paying white-collar positions due to increased literacy rates. This has resulted in a decrease in the number of people applying for hospitality occupations, which are often associated with long hours, low income, and often unsightly labour. The covid-19 pandemic made conditions worse for the travel, tourism, and hospitality sectors, which resulted in job losses. In the wake of the COVID-19 pandemic, the bulk of the former workers obtained employment in other industries and did not return to the hospitality business, which resulted in shortages when travel to the industry increased. The far-right parties' ascent and the accompanying rhetoric against immigration in Europe have led to a serious manpower shortage in these nations, particularly in the hotel industry. Thus, the need for hospitality robots is rising as a result of the workforce shortages in the hospitality sector.
Restraints: The expensive price of purchasing a hospitality robot.
Robots are extremely intelligent, automated machines that include cutting-edge technologies like artificial intelligence. Labour hours, hardware, software, and programming all contributed to the creation of this extremely complex piece of A significant amount of capital was required for the manufacturing of this complex piece of equipment, including the hardware, software, programming, and labour hours. There are substantial expenses associated with integrating these robots into the hospitality sector. These expenses are increased by upkeep and other operational factors. Sufficient funding was also needed for personnel training and the hiring of technically certified and skilled experts to operate and manage these robots. Due to their capital-intensive nature, most small and medium-sized hotels in the hospitality sector cannot afford robots; only upscale hotel chains with substantial budgets can afford them. This results in a severely constrained or limited market, which impedes the expansion of the global hospitality robot business.
Opportunities: developments in technology.
The emergence and development of contemporary technologies, including IoT, artificial intelligence, navigation systems, and communication technologies, will be advantageous for the hotel robot market's expansion. These developments have produced more advanced robots that can now recognise and comprehend the requirements and desires of their visitors. For example, robots can gather, analyse, and interpret data using an interactive user interface, artificial intelligence, and data analytics to better understand the preferences and tastes of visitors and possibly provide recommendations that increase customer happiness. Technological advancements have also enhanced the dependability, accuracy, and dependability of hospitality robots, making them more valuable employees of the organisation they work for. Robots can now navigate safer and with greater autonomy thanks to the improved navigation. Additional developments Additional innovations include enhanced battery life, safety, usability, and interfaces. As a result, during the course of the projection period, technical developments will result in better devices that are more likely to be accepted by both staff and visitors.
Challenges: The replacement of human labour leading to rising global unemployment rate.
Hospitality robot is efficient, faster and offer quality results. They automate tasks. They are reliable and do not need to be checked. They are able to replace human labour while offering better and more efficient results. The adoption of hospitality robot will lead to labour displacement leading to significant resistance from employees and trade unions against them. the displaced employees might find it difficult to adapt to this change and find new jobs as they will have to acquire new skill sets or education. Additionally, robots lack human touch and this might discourage customers from booking such hotels. The governments are also concerned with these problems as unemployment rates are already at all-time highs due to the covid-19 pandemic, energy-crisis, cost of living crisis and ongoing global conflicts. Therefore, the resistance from human labour due to the fear of losing jobs will challenge the market’s growth.
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Some of the major players operating in the global hospitality robot market are:
• Aethon Inc.
• BotsAndUs
• Connected Robotics Inc.
• Hyundai Robotics Co. Ltd.
• Knightscope, Inc.
• Maidbot Inc.
• Savioke
• SoftBank Robotics Group Corporation
• Travelmate Robotics
• UBTECH Robotics Inc.
Key Segments covered in the market:
By Type
• Front Desk Robots
• Mobile Guidance Robots
• Delivery Robots
• Cleaning Robots
• Others
By End User
• Hotels
• Bars and Restaurants
• Travel and Tourism
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Million). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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