The hospitality robots market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the The hospitality robots market by region.
The hospitality robots market size was valued at ~$290 million in 2020. The market is forecast to grow with a CAGR of ~25.2% during the forecast period from 2021-2027.
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In general, a robot is a device or system designed to carry out a specific set of tasks such as ensuring exceptional efficiency or accuracy. It can be done through a number of methods such as smiling and greeting guests, guiding them to their rooms and telling them about their floor accurately, or offering snacks at the end of the night to the customers. A number of services can be automated with the help of robots without negatively affecting their availability. There has been a significant uptake of robotic automation in the hospitality industry over the last few years. There will be an increase in popularity for hotel robots within the next few years.
Factors Affecting the Global Hospitality Robots Market
During the forecast period, hotels are expected to reduce their staff members, implement robotic automation in the industry quickly, and offer their guests contact-free and touch-free services.
A guest’s major concern is being able to perform a security check in the room. The most common way in which hotels deal with unexpected and objectionable objects is by deploying their security robots, which are programmed to monitor the areas around hotel rooms, this pushes the demand for hotel robots in the travel and tourism industry at an exponential rate.
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Hospitality Robot Market.
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Covid-19 Impact on the Global Hospitality Robot Market
There was a sensation in the hospitality robots market in response to the pandemic. Covid-19 reports that a major demand for disinfection robots has arisen from the cleaning and disinfecting of public areas, such as hotels, hospitals, railways stations, and airports, which is attributable to the increased use of cleaning and disinfection robots.
There are many countries that have opened their borders to people from around the world. Despite the slowdown in the tourism industry, many hotels are providing isolation time to their guests in order to keep them calm. Since the pandemic situation caused a reduction in employees, hotels minimized interpersonal communication in order to make sure that the virus did not spread.
The challenge to satisfy loyal customers has been a challenge for every hotel. In such a scenario, robots play an important role by providing touchless, hygienic, and 24/7 services to their guests most efficiently and conveniently possible. Therefore, since there was a Covid-19 pandemic during the pandemic, it caused a tremendous increase in the market growth of hospitality robots. Despite the end of the pandemic, the market is expected to continue to expand even after its onset.
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Regional Analysis: the Global Hospitality Robot Market
In the global hospitality robots market, North America has held the largest share so far and this share is expected to continue to be held throughout the forecast period. Hospitality Robots are expected to experience significant growth in North America during the forecast period due to the growing hotel industry and the adoption of these robots. Several hotels are using robotic automation to assist their customers quickly and to keep their hotel areas looking clean. North American hospitality robot’s market share is projected to increase during the forecast period as the hotel industry adopts hospitality robots and the U.S. startup raises financial support.
Key Players in the Global Hospitality Robot Market
The leading key players in the global hospitality robot market are:
Hyundai Robotics Co., Ltd
Ubtech Robotics, Inc.
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Segment Analysis of the Global Hospitality Robot Market
The global hospitality robot market segmentation is based on End-User, Region, Sales Chanel, and Type.
Segmentation based on Type
Front Desk Robots
Segmentation based on End-user
Restaurants and Bars
Travel and Tourism Industry
Segmentation based on Sales Channel
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Segmentation based on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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