The global telepresence robot market is projected to grow at a CAGR of 16.58% to reach US$856.685 million by 2024, from US$341.267 million in 2018. Telepresence robots are remote presence device which is being used across industry verticals owing to their cost-effectiveness and ease of convenience. In addition, increasing research and development expenditure coupled with new players entering the market to develop and introduce advanced products in the market will boost the demand for these robots. However, the high bandwidth requirement is a major restraint in the developing countries and will restrict the market growth in various countries. North America and Europe held a significant market share in 2018 owing to the early adoption of technology and the presence of key market players in the region.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global telepresence robot value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the global telepresence robot market.
Major industry players profiled as part of the report are Amy Robot Co., Ltd., AXYN Robotique, Ava Robotics (Subsidiary of iRobot), Mantaro Product Development Services, Inc., SuperDroid Robots, Inc., Suitable Technologies, Inc., Inbot Technology, and VGo Communications, Inc. (A subsidiary of Vacna Technologies) among others.
The global telepresence robot market has been analyzed through the following segments:
By End-User Industry
Military and Defense
Media and Entertainment
Middle East and Africa