SHANGHAI, June 17, 2022 /PRNewswire/ — Market research institution IDC?International Data Corporation), in its recent report "Market Share of Commercial Service Robots in China Catering Industry", marks KEENON Robotics as top of the list in both Market Share and Growth in China’s commercial service robots for the catering industry in 2021. The company’s growth rate of 153.4% is leading the rest of the industry, with a market share of 48.6%, almost twice as large as the second largest.
"The demand for service robots, such as delivery robots, is growing significantly across many industries, especially catering," IDC reported. "The catering industry has become one of the most mature industries in the application of commercial service robots, with the market displaying a rapid growth trend over the past two years. In 2021, the total market size of commercial service robots in the catering industry in China reached $84 million US dollars, which is an increase of more than 110% compared to the previous year – this is significant growth."
IDC Research Manager, Can Cui further noted, "The commercial service robot market for China’s catering industry achieved rapid growth in 2021, labor shortages, and favorable national policy; establishing a positive long-term trend. In the short-term, however, with the market becoming more mature and more refined in terms of operations, products, teams, costs, and services, there will be improved profitability as developments in catering spread to related industries and overseas expansion will become a key direction for market development."
As a leading enterprise in the industry, KEENON Robotics has a significant edge by maintaining high growth levels and occupying nearly 50% of the domestic market share.
Continuous Breakthroughs in Technology, KEENON Robotics Steps into the Era of High-Speed Growth
As one of the earliest enterprises exploring the application scenarios of commercial robots in China, KEENON Robotics has witnessed the entire process of commercial service robots application in the catering industry since the beginning. So far, the innovative range of T1, T2, T5, T6, T8, and more catering delivery robots have been adopted by industry partners, with KEENON already boasting a rich product line capable of matching any catering needs.
In 2021, catering-specific service robots from KEENON Robotics exploded in popularity and use, with almost 65% of the top 100 food and beverage brands, such as Haidilao Hotpot, Pizza Hut, Xiao NanGuo Restaurant, Grandma’s House, and more, adopting KEENON Robotics products.
In the same year, KEENON Robotics completed Alibaba’s exclusive strategic financing and SoftBank Vision-led investment of $200 million D round financing. The company achieved outstanding results and was also ranked on the Hurun global Unicorn Company list in the year. Meanwhile, the company was awarded the TOP 10 best investment cases in advanced manufacturing by the CVINFO 2021 Annual List.
Based in China, Exploring Globally, and Continuing to Promote the Popularization of Robotics Technology
Currently, KEENON Robotics has successfully launched in North America, Europe, the Asia Pacific, South America, the Middle East, and Africa, with six major global business areas. In these areas, KEENON Robotics is cooperating with large local multinational companies on strategic development to continue supporting the world with commercial service robots.
In the future, KEENON Robotics will continue to increase R&D investment, accelerating the growth of distribution channels to the global market, boosting digital transformation, and improving efficiency. KEENON Robotics is also willing to take a role as an industry leader together with other industry partners to push the limits of science and technology and promote the popularization and development of commercial robots, which can truly bring about the technology to change lives.