Emerging Trends to Drive Hospitality Robots Market Growth at 26.2% CAGR Through 2029

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Hospitality Robots Market Size Growth Forecast: What to Expect by 2025?
The market for hospitality robots, which has seen a rapid increase in recent years, is expected to expand from $0.55 billion in 2024 to $0.7 billion in 2025, reflecting a compound annual growth rate (CAGR) of 27.5%. The significant growth in the preceding years may be credited to factors such as the merits of automation compared to human labor, advanced robotic capabilities, improved customer fulfillment, and a demand for greater productivity and efficiency.

How Will the Hospitality Robots Market Size Evolve and Grow by 2029?
In the ensuing years, we anticipate explosive expansion in the market for hospitality robots. Its value is projected to climb to "$1.78 billion in 2029, with a compound annual growth rate (CAGR) of 26.2%. The projected growth in the forecasted period can be credited to the rising adoption of robotic automation in the hospitality sector, an increasing influx of international tourists, expansion of the tourism industry, and a decline in the number of hotel staff members. Technological progression, innovation in robotics, incorporation of IoT with robots, creative technologies, and the introduction of solutions powered by artificial intelligence will be the major trends throughout this forecast period.

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What Drivers Are Propelling the Growth of Hospitality Robots Market Forward?
The expansion of the tourism trade is projected to bolster the growth of the hospitality robots market in the future. The tourism trade includes every form of travel and leisure activities engaged in by individuals or groups for pleasure, cultural or business reasons. The demand for the tourism trade is driven by individuals desiring relaxation, cultural exploration, business avenues, and escape, thus promoting global economic development, cultural interaction, and personal growth. Hospitality robots are incorporated across different domains in the tourism industry, ranging from customer service, room assistant, cleaning to entertainment, augmenting guest experiences, efficiency, and the quality of service. For instance, as per the OECD iLibrary, an online library in France for working papers and datasets, it is forecasted by The United States' National Travel and Tourism Office in October 2024, that total international visitation is expected to achieve 77.7 million in 2024, surpassing the previous 79.4 million in 2019 achieving 85.2 million in 2025, and then witnessing 91.1 million in 2026, before hitting a record of 96.8 million in 2028. Hence, the escalation in the tourism trade is catalyzing the growth of the hospitality robot market.

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What Are the Key Trends Driving Hospitality Robots Market Growth?
Major corporations in the hospitality robots market are channeling their efforts into the creation of state-of-the-art solutions, such as service robots that integrate Artificial Intelligence (AI), in attempts to distinguish themselves competitively. These service robots are equipped with advanced AI and autonomous robot technology, aimed to streamline hospitality functions and enable staff to focus on more meaningful tasks. For instance, in February 2023, Bear Robotics Inc, a US-based leader in engineering and robotics design, introduced a new service robot, Servi, envisaged to transform the food service industry by aiding staff in food and drink service, table clearing, and enabling them to concentrate on delivering superior service to their clientele and patients. Servi boasts features such as AI and autonomous robot technology, full self-navigation capabilities, light detection and ranging (lidar) sensors and multiple cameras for sophisticated navigation. It also possesses the ability to memorize various table positions and return to its station post-delivery.

What Are the Key Segments in the Hospitality Robots Market?
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

Subsegments:
1) By Delivery Robots: Food And Beverage Delivery Robots Room Service Delivery Robots Laundry And Towel Delivery Robots
2) By Front Desk Robots: Check-In Or Check-Out Assistance Robots Concierge Robots Information And Directional Robots
3) By Cleaning Robots: Floor Cleaning Robots Window Cleaning Robots Surface Cleaning Robots
4) By Other Types: Security Robots Maintenance And Repair Robots Entertainment Robots

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Who Are the Key Players Shaping the Hospitality Robots Market's Competitive Landscape?
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.

What Geographic Markets Are Powering Growth in the Hospitality Robots Market?
North America was the largest region in the hospitality robots market in 2024. 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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