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The mobile robots market in healthcare and hospitality sectors market share is expected to increase by USD 1.18 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 17.97%.
This mobile robots market in healthcare and hospitality sectors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers mobile robots market in healthcare and hospitality sectors market segmentations by product (autonomous mobile robots and remote-controlled mobile robots), end-user (healthcare and hospitality), and geography (North America, Europe, APAC, MEA, and South America). The mobile robots market in healthcare and hospitality sectors market report also offers information on several market vendors, including ABB Ltd., Amazon.com Inc., Awabot, Clearpath Robotics Inc., Myomo Inc., OMRON Corp., Panasonic Corp., Savioke Inc., Starship Technologies Inc., and Teradyne Inc. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing number of patients with chronic diseases is notably driving the mobile robots market in healthcare and hospitality sectors market growth, although factors such as need for technical expertise may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the mobile robots market in healthcare and hospitality sectors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Mobile Robots Market In Healthcare And Hospitality Sectors Market Driver
The increasing number of patients with chronic diseases is one of the key factors driving the growth of the global mobile robots market in the healthcare and hospitality sectors market. An estimated 17.9 million people worldwide died from cardiovascular diseases in 2019, which represented 32% of global deaths. Of these deaths, 85% were due to heart attack and stroke. According to Eurostat, every year, CVD causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU) countries. CVD accounts for 45% of all deaths in Europe and 37% of all deaths in the EU. CVD is the main cause of death among men in all but 12 countries of Europe, and it is the main cause of death among women in all but two European countries. More than 550,000 people are diagnosed with heart failure every year in the US. According to the Centers for Disease Control and Prevention (CDC), every year, approximately 790,000 people in the country have a heart attack, of which nearly 580,000 are first heart attacks and 210,000 are recurrent attacks. Such factors will increase the market growth during the forecast period.
Key Mobile Robots Market In Healthcare And Hospitality Sectors Market Trend
The integration of IoT with mobile robots will fuel the global mobile robots market in the healthcare and hospitality sectors market growth. The growing emphasis on connected environments is helping IoT become one of the most rapidly growing technologies. IoT devices collect data through sensors and actuators and transmit it to a centralized location on a real-time basis, which enables end-users to make informed decisions. One of the most important drivers of IoT is the trend of product customization. As a result, companies worldwide are looking to interconnect their machinery, equipment, and motion control systems to effectively manage operational processes.
Moreover, OEMs are undergoing a major transformation with the adoption of digital control, wireless communications, low-cost sensors, remote monitoring, and other IoT-enabled technologies. Moreover, there is device-to-network connectivity and the data models that collect information in real-time respond to triggers, and send alerts to service personnel. This will ensure that services of hospitality robots, such as professional service mobile robots, are more preemptive in their diagnosis, and problems are solved before any critical issue arises. These hospitality robots are equipped with advanced AI and IoT capabilities, enabling them to enhance operational efficiency in sectors like hotels, restaurants, and event venues. By leveraging real-time data analytics and proactive maintenance features, hospitality robots contribute to improved customer service experiences and streamlined operations. As technology continues to evolve, these robots will play an increasingly vital role in optimizing service delivery and maintaining high standards in the hospitality industry.
Key Mobile Robots Market In Healthcare And Hospitality Sectors Market Challenge
The need for technical expertise is a major challenge for the global mobile robots market in the healthcare and hospitality sectors market growth. Another major deterrent that can affect the market is the lack of technical expertise in the workforce. End-users are required to have knowledge about the working of USVs, UGVs, and UMVs, along with periodic servicing requirements, to ensure smooth operations. The lack of technical knowledge often deters end-users from adopting surveillance robots, as they consider downtime required for maintenance tasks as a considerable loss. This has been a major challenge in developing countries, as there is hesitation among end-users to learn and adopt new technologies of operations. Vendors will have to widely adopt online and offline training and consultation methods to ensure that end-users with less familiarity with technology get the required support. Inadequate training and the lack of skilled operators and have led to a disinclination to execute wide-scale robotic automation, as substantial time, training, and budget have to be allocated for successful implementation. The reluctance of end-users to learn and switch to new technologies also affects market growth.
This mobile robots market in healthcare and hospitality sectors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The global mobile robots market in the healthcare and hospitality sectors is a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the mobile robots market in healthcare and hospitality sectors market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the mobile robots market in healthcare and hospitality sectors market encompasses successful business strategies deployed by the key vendors. The mobile robots market in healthcare and hospitality sectors market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The mobile robots market in healthcare and hospitality sectors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the mobile robots market in healthcare and hospitality sectors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global industrial machinery market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
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37% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for mobile robots market in healthcare and hospitality sectors market in North America. Market growth in this region will be slower than the growth of the market in regions.
The increasing number of patients with chronic diseases will facilitate the mobile robots market in healthcare and hospitality sectors market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 adversely affected all countries in North America, especially the US. A rise in the number of COVID-19 cases in the first quarter of 2020 and early 2021 led to partial lockdowns in several countries, including Canada and Mexico. The lockdowns across many countries had a minimal effect on the growth of the mobile robots market in the healthcare and hospitality sectors in 2020. However, in 2021, the initiation of large-scale vaccination drives has lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.
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The mobile robots market in healthcare and hospitality sectors market share growth by the autonomous mobile robots segment will be significant during the forecast period. Autonomous robots have the ability to perform tasks by themselves. They do not require external signals to operate. Modern autonomous robots are configured with sensors and tracking devices that guide the locomotion of mobile robots. These robots are highly useful in logistic applications in the healthcare and hospitality sectors.
This report provides an accurate prediction of the contribution of all the segments to the growth of the mobile robots market in healthcare and hospitality sectors market size and actionable market insights on post COVID-19 impact on each segment.
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Mobile Robots Market In Healthcare And Hospitality Sectors Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.97% |
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Market growth 2021-2025 |
USD 1.18 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
14.52 |
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Regional analysis |
North America, Europe, APAC, MEA, and South America |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, Germany, Canada, Japan, China, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., Amazon.com Inc., Awabot, Clearpath Robotics Inc., Myomo Inc., OMRON Corp., Panasonic Corp., Savioke Inc., Starship Technologies Inc., and Teradyne Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by End-user
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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