Image Source: Visual China
BEIJING, June 16 (TMTPOST) — In 2021, the market size of commercial robots for restaurants in China reached US$84 million (around 540 million yuan), according to a recent report from market research firm IDC.
The market of commercial robots for restaurants in China has been growing fast in the past two years because of the demand for contactless food delivery and the rising labor cost in the country. The market scale in 2021 was US$84 million, registering year-on-year growth of 110.4%.
Companies such as Keenon Robotics, Pudu Robotics, Suzhou Pangolin Robot and OnionStar are major players in the Chinese market.
In the future, the industry will pursue further commercial operation, expand from dining usage and enter overseas markets.
In 2021, robots for commercial services received a lot of attention from investors. Many robot-making companies have received million-dollar funding with some completing their Series C and D round financing. Keenon Robotics, for instance, had completed its series D round financing at over one billion yuan. Pudu Robotics completed its series C+ round financing at over 100 million yuan.
Active players in the market of robots for dining services are mostly emerging robot makers. Keenon Robotics and Pudu Robotics are two of the earliest players in the industry that have completed several rounds of financing. Thanks to their early entry into the market, the two companies have been growing rapidly and forging apparent advantages in the industry. In 2021, there were few emerging companies or traditional robot makers entering this specific sector.
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