IDC: China’s catering service robot market size in 2021 will be 540 million yuan, a year-on-year increase of 110%

Visit the original URL

Original title: In 2021, the domestic catering service robot market will grow by as much as 110%

Source: IDC Consulting

In the past two years, benefiting from factors such as non-contact distribution and rising labor costs, the service robot market for distribution scenarios in the catering industry has developed rapidly. According to IDC’s latest report on the market share of commercial service robots in China’s catering industry, the market size of China’s commercial service robots will reach US$84 million (about 540 million yuan) in 2021, with a year-on-year growth rate of 110.4%, showing an explosive trend. Manufacturers such as Qinglang Intelligent, Purdue Robot, Pangolin Robot, and Orion Star occupy the main market share. In the future, refined operation, pan-catering and overseas business will become an important direction for the next development of the market.

In 2021, the commercial service robot market in China’s catering industry will show the following characteristics

Increase capital investment. In 2021, the commercial service robot market has attracted the attention of capital, and a number of companies have successively announced that they have obtained billion-dollar financing, many of which have reached C and D rounds, and IPOs are in sight. Among them, in the field of catering robots, Qinglang Intelligent obtained D round of financing exceeding 1 billion yuan, and Purdue Technology obtained C+ round of hundreds of millions of yuan in financing.

Market concentration is high. The main players in the commercial service robot market in China’s catering industry are emerging robot companies. Among them, Qinglang Intelligence and Purdue Technology, which have earlier layout and more financing, have achieved rapid growth in performance due to their early entry into the market and vigorous market expansion, forming a clear leading edge. In 2021, fewer new manufacturers or traditional giants will enter the field of catering distribution.

The rental service model is favored by the market. Under the epidemic and other factors, the leasing model that takes up less cash is favored by more catering companies and has become a more popular business model for enterprises. The leasing model accounts for more than 60% of the revenue of some manufacturers. With the popularization of the leasing model, the business model of robot manufacturers has shifted from selling products to selling services, promoting manufacturers to increase investment and layout in terms of service and operational capabilities.

The market is still in the investment period and the variables are still there. The rapid expansion of teams and channels and the promotion of leasing models have brought great pressure on cash flow for robot manufacturers, and most manufacturers are not yet profitable. With the decline in market growth and the rapid consumption of financing funds, some manufacturers with poor follow-up financing may face difficulties, and there are still variables in the market structure.

The broader market still needs to be further expanded. By the end of 2021, the penetration rate of robots has reached a relatively high level for early market customers in key first- and second-tier cities, chain restaurants, and hotpot brands that are highly receptive to service robots, and the growth has slowed down significantly. Third- and fourth-tier cities, as well as more traditional Chinese and Western food catering brands, independent restaurants and other broader markets, have become more difficult to expand, and have posed greater challenges to refine product categories and improve operational levels.

The rapid outbreak of overseas markets, the proportion increased significantly. With the gradual liberalization of overseas epidemic prevention and control and high labor costs, the demand for catering service robots in overseas markets has increased significantly, and manufacturers’ overseas business has achieved explosive growth. Some manufacturers’ overseas market revenue has significantly surpassed the domestic market. Focus on overseas markets.

Cui Can, research manager of IDC China, said: In 2021, the commercial service robot market in China’s catering industry will achieve rapid growth. With the support of non-contact business, labor shortage and policy support, it will develop well in the long term. However, in the short term, as the early market gradually matures, it will get rid of extensive Expansion, carrying out refined operations around products, teams, costs, services, channels, etc., improving profitability, and expanding pan-catering and overseas business will become an important direction for the next development of the market.

media coverage

Sina Technology Investment Sohu
Related events

This article is reprinted from: https://readhub.cn/topic/8gTmwivuSO6
This site is for inclusion only, and the copyright belongs to the original author.

Leave a Comment

Your email address will not be published.