The global telepresence robot market is projected to grow at a CAGR of 12.48% during the forecast period to reach US$624.165 million by 2027, from US$274.014 million in 2020.
Telepresence robots are self-contained autonomous robots with a smartphone or motorized desktop stands connected to a display or camera and may be controlled remotely. Sensors, video conferencing technologies, accelerators, and other features are included in telepresence robots. The industry has been changing dramatically during the last few years with the infusion of new start-ups. A telepresence robot is a remote-controlled gadget that allows people to communicate virtually via video conferencing. It consists of a wheel-mounted stand, arm unit, video camera, display screen, and other multimedia equipment that allow people who are not physically present in a commonplace to communicate. It is mostly utilized in an office setting, where users can control the robot remotely and interact with others using an app on their smartphone or tablet. As a result, it has a wide range of applications in various areas, including corporate, education, healthcare, and home care, among others.
One of the key reasons driving the global telepresence robot market during the forecast period is the growing need for remote labor management in end-user industries. The market's growth is being fueled by the rising trend of digitalization, as well as technological developments in artificial intelligence and machine learning. Telepresence robots are increasingly being used by businesses worldwide, owing to the rising penetration of smartphones in consumers' daily lives and the growing demand for operational automation. Furthermore, the healthcare sector's broad adoption is another driver of the market’s expansion. Telemedicine is a rapidly evolving technology breakthrough in the healthcare business that incorporates remote patient monitoring through digital technologies such as video conferencing capabilities while allowing patients and healthcare providers to engage remotely. Telemedicine's expansion is aided by the increasing usage and popularity of telepresence robots in the healthcare business.
The constraints limiting the market’s growth are technical errors that occur while handling the robot, resulting in operational problems. Expertise is in scarce supply among professionals. High expenditures, poor employee training, and the loss of sensitive information are the issues that telepresence robot companies confront.
Toyota Research Institute developed new telepresence robots with a camera atop a big lifesize display for the 2020 Olympics games in July 2019. It also contains various 3D sensing devices at the base, including two depth cameras and lidar. Blue Ocean Robotics of Denmark purchased Beam, a remote-controlled telepresence robot, in August 2019. According to Blue Ocean Robotics, they have solely taken possession of the intellectual property, people who work on Beam robots, hardware inventories, and other associated assets. OhmniLabs debuted its newest telepresence robot, the Ohmni Supercam, in January 2019. The telepresence robot has the best resolution camera of any telepresence robot on the market, allowing users to see content on whiteboards and printed documents more clearly than in previous systems.
By type, the global telepresence robot market can be segmented into mobile and stationary robots. The market for mobile telepresence robots is predicted to rise at the fastest rate owing to characteristics like autonomous navigation, head motion, adjustable height, and obstacle avoidance. Because the stationary robot is primarily employed for teaching purposes in practically every vertical, the employment of stationary telepresence is confined to specific areas.
By components, the telepresence robot market is segmented into the camera, speaker and microphone, power source, display, sensor and control system, and others. During the projected period, the market for a camera, display, and speaker components is expected to develop at the fastest CAGR, allowing seamless and efficient service delivery and virtual monitoring as it facilitates two-way communication and aids the virtual presence of people.
By end-user industry, the global telepresence robot market is segmented into healthcare, education, enterprise, homecare, and others. During the forecast period, the healthcare segment is predicted to develop at the fastest rate. Doctors can advise and train their patients using telepresence robots that are operated remotely. Telepresence robots, which can be controlled by remote surgeons and utilized for remote surgery to save lives, are being developed by researchers. These advantages are propelling the telepresence market in the healthcare industry. The education segment is also predicted to rise at a fast CAGR.
Geographically, the global telepresence robot market can be segmented into five regions- North America, South America, the Middle East, Africa, Europe, and the Asia Pacific regions. North America accounted for the greatest revenue share in the telepresence robot market in 2020, owing to the widespread use of advanced technologies and the presence of strong Internet infrastructure. Furthermore, the region's market revenue is being driven by prominent telepresence robot manufacturers and increased investments in telepresence robot research and development. The Asia Pacific telepresence robot market is predicted to proliferate during the forecast period, owing to increased investments in automation development in the education and healthcare sectors and rising demand for telemedicine by countries such as China.
Due to the widespread adoption of the COVD-19, telepresence robotics has emerged as a critical trend in the year 2020. Telepresence robots let healthcare providers travel freely and independently in a crisis where social distance and remote monitoring have become crucial to prevent direct contact with COVID-19 patients. They can assist patients at their bedsides, bring supplies to ORs and nurses, assist with rehab and lab automation, and sanitize rooms, to name a few applications.
|Market size value in 2020||US$274.014 million|
|Market size value in 2027||US$624.165 million|
|Growth Rate||CAGR of 12.48% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Component, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Ava Robotics Inc., AMY Robotics, Blue Ocean Robotics, Mantaro Networks Inc., Double Robotics, VGo Communications Inc., OhmniLabs, Inc., SuperDroid Robots, Inbot Technology Ltd., Wicron, AXYN Robotics|
|Customization scope||Free report customization with purchase|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What will be the telepresence robot market size by 2027?
A1. The global telepresence robot market is projected to reach a total market size of US$624.165 million by 2027.
Q2. What are the growth prospects for the telepresence robot market?
A2. The telepresence robot market is projected to grow at a CAGR of 12.48% during the forecast period.
Q3. What is the size of the global telepresence robot market?
A3. Telepresence Robot Market was valued at US$274.014 million in 2020.
Q4. What factors are anticipated to drive telepresence robot market growth?
A4. One of the key reasons driving the global telepresence robot market during the forecast period is the growing need for remote labor management in end-user industries.
Q5. Which region holds the largest market share in the telepresence robot market?
A5. North America is expected to hold the largest share in the telepresence robot market owing to the widespread use of advanced technologies and the presence of strong Internet infrastructure.
Ava Robotics Inc.
Blue Ocean Robotics
Mantaro Networks Inc.
VGo Communications Inc.
Inbot Technology Ltd.
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