Dublin, June 17, 2019 (GLOBE NEWSWIRE) -- The "Robotics in Travel & Tourism - Thematic Research" report has been added to ResearchAndMarkets.com's offering.
In robotics, Say's law - which states that supply creates its own demand - is revving up ever faster, due to robots becoming progressively cheaper, smarter, more flexible and easier to train. This makes it easier for robots to infiltrate new industries and spawn new use cases at scale. Indeed, with compounding advances in technology, robots are being redefined as essentially physically embodied artificial intelligence (AI) agents.
In 2018 the global robotics market was worth $98 billion, and it will have surpassed $275 billion by 2025. Over the next five years there will be a rapid growth in cloud-based robot services for armies of installed robots and for robots hired on an as-needed basis, especially by small and medium-sized enterprises (SMEs), triggering new demand drivers.
Notable travel and tourism companies already making use of robotics include Hilton, Royal Caribbean, and Expedia. Many more companies are likely to embrace the technology in the coming years as boosts to sagging productivity in services are sought by organizations.
When introducing service robots into day-to-day operations, organizations such as hotels need to start small. This way, management can assess carefully if they are actually beneficial to service quality, or if they are having a negative impact.
Robots can suffer from the same issues that computers face in terms of cybersecurity. If a robot is hacked it can pose huge safety and privacy risks.
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Reasons to Buy
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INDUSTRY ANALYSIS
IMPACT OF ROBOTICS ON THE TRAVEL AND TOURISM INDUSTRY
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Companies Mentioned
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