What Are The 5 Takeaways From The Robot Kitchen Market Overview 2024
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The robot kitchen market has experienced exponential growth, expanding from $2.73 billion in 2023 to $3.35 billion in 2024, representing a remarkable compound annual growth rate (CAGR) of 22.7%. Automation and efficiency improvements, escalating labor costs, changing consumer trends towards convenience, ongoing innovation, heightened competition, and concerns related to food safety and hygiene fueled this historic growth. Moving forward, the robot kitchen market is expected to witness rapid expansion, projected to reach $5.94 billion by 2028, boasting a CAGR of 15.4%. Factors driving this growth include advancements in artificial intelligence, integration with smart home systems, proliferation of cloud-connected kitchens, enhancements in human-machine interfaces, and incorporation of sustainability features. Major trends include technological advancements, increased connectivity, utilization of blockchain technology for food safety, integration of artificial intelligence (AI), and expansion of connectivity options.
The escalating adoption of smart homes is anticipated to fuel the growth of the robot kitchen market in the coming years, as smart homes provide an ideal environment for automated cooking and activity monitoring, driving the demand for robot kitchens. A survey conducted by Samsung Electronics Co. Ltd. in June 2023 revealed that 86% of UK homebuyers expressed willingness to consider a smart home for their next property purchase, with nearly 40% of Generation Z buyers preferring smart homes. Thus, the increasing prevalence of smart homes is catalyzing the expansion of the robot kitchen market, reflecting the growing demand for automation in domestic settings.
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What Are The Key Trends That Influence Robot Kitchen Market Share Analysis?
Major companies in the robot kitchen market are increasingly focusing on developing robot-run, AI-powered restaurants to gain a competitive edge. A robot-run restaurant uses robots and automation technologies for tasks related to food preparation, cooking, serving, and cleaning. For instance, in November 2023, Remy Robotics, a Spain-based food service artificial intelligence (AI) company, launched its new automated cooking robots with the concept of a robot restaurant called Better Days in New York City. The restaurant utilizes Remy Robotics’ robotics platform for its operations, offering a health-focused menu and limited physical dining space. It operates as a human-free storefront, with off-site human preparation and robot-coordinated on-site food assembly. The restaurant’s machines use AI to cook a diverse menu, consistently offering high-quality, healthy food at an affordable price. The robotic kitchen operates without traditional ventilation systems or human supervision, reflecting the industry’s push toward labor-saving technology.
Which Market Players Are Driving Growth In The Robot Kitchen Market?
Major companies operating in the robot kitchen market report are Samsung Electronics Co. Ltd., Sony Group Corporation, LG Corporation, Panasonic Holdings Corporation, ABB Group (ABB Robotics), Nvidia Corporation, Yaskawa Electric Corporation, KUKA AG , Armstrong Robotics, HeroX, Sweetgreen, Pal Robotics, Bear Robotics Inc., Boston Dynamics, QSR Automations, Zimplistic Inventions, Dishcraft Robotics, Niryo Robotics SAS , Savioke, Remy Robotics, Soft Robotics, Wilkinson Baking Company (BreadBot), Nymble Labs, Dexai Robotics, Moley Robotics, Miso Robotics, Xrobotics
How Is The Global Robot Kitchen Market Segmented?
The robot kitchen market covered in this report is segmented –
1) By Type: Hardware, Software
2) By Robot Type: 6-Axis, Cartesian, Delta, Selective Compliance Assembly Robot Arm (SCARA), Other Robot Types
3) By Application: House, Commercial, Other Applications
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The Robot Kitchen Global Market Report 2024 provides an overview of the robot kitchenmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The robot kitchen market forecast analyzes robot kitchen market size, robot kitchen market share, leading competitor and their market positions.
The Table Of Content For The Robot Kitchen Market Include
1. Robot Kitchen Market Executive Summary
2. Robot Kitchen Market Segments
3. Robot Kitchen Market Size And Template Market Growth Rate
4. Key Robot Kitchen Market Trends
5. Major Robot Kitchen Market Drivers
……
25. Key Mergers And Acquisitions In The Robot Kitchen Market
26. Top Robot Kitchen Companies
27. Robot Kitchen Market Opportunities And Strategies
28. Robot Kitchen Market, Conclusions And Recommendations
29. Appendix
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