Telepresence Robots Market Regional Outlook Opportunity Assessment and Potential of the Market by 2027 | COVID-19 Effects
Market Synopsis
In its research study, Market Research Future (MRFR), emphasizes that over the forecast period , the global telepresence robots market 2020 is projected to develop exponentially, achieving a significant market valuation and a healthy CAGR.
Market Highlights
With growing advantages in technologies such as artificial intelligence and modern engineering, the robotics industry is shaping significant market share growth. Telepresence robots are one of the groundbreaking examples of technological advancement. They are known through different terms like skype on wheels, virtual presence robots, or remote presence robots. The ability of telepresence robots to provide a virtual remote presence in the medical sector allows physicians to assist their patients located at different locations without physically going to that location. Telepresence robots are widely adopted worldwide in the healthcare and medical sectors which is one of the major driving factors for the growth of the market in coming years. Advancement of artificial intelligence technology , increased use of smartphones and increasing trend of enterprise automation into operations are some of the other factors that will fuel the growth of the telepresence robot market share in the coming years. Nevertheless, the high cost of robots manufacturing as well as their deployment & maintenance is expected to hamper the adoption of telepresence robots on the market in coming years. In addition, high-speed network expansion such as 4 G and 5 G is a promising opportunity for the telepresence robot industry to record substantial growth in the coming years. Whereas technological difficulties and lack of reliable protocols for communication are some of the major challenge faced by the vendors.
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Market Segmentation
The global telepresence robot market share is analyzed into type, components, end-user and region.
Based on the component, the market has been segmented into camera, displays, speakers, microphone, and sensors & control systems.
Based on the type, the market has been segmented into stationary and mobile.
By end-user, the market has been segmented into education, healthcare, corporate, medical, manufacturing and others.
Regional Analysis
The market for Telepresence Robots is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of Telepresence Robots market is studied for North America (U.S, Canada, and Mexico), Europe (Germany, U.K, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Taiwan, and Rest of Asia-Pacifc), and the Rest Of The World (including the Middle East, Africa, and Latin America).
North America is expected to dominate the Telepresence Robots market during the forecast period. North America is an established region in terms of advanced infrastructure and is widely known as an early adopter of new technologies. The demand for more personalized and collaborative robots by industries in North America is fueling the adoption of Telepresence Robots in the region.
Europe is expected to be the second dominant market of Telepresence Robots. Increasing demand of telepresence robots to serve the ageing population is one of the primary driving forces of the market in the region. Further, presence of key players such as No Isolation, and VGo Communications are further fueling the market growth in Europe as these players are investing heavily in their research & development of telepresence robots targeting healthcare, medical and education sector in the region.
Asia-Pacific Telepresence Robots market is projected to grow with fastest growing CAGR during forecast period. China, Japan, South Korea among all other countries is leading the Telepresence Robots market in the region. South Korea is currently, a leading market of robotic process automation. And the government with support of key industry players are investing in innovating their healthcare sector in order to serve increasing ageing population in the country. China, after South Kores, is the largest market of selling of industrial robots in the world. China is also planning to increase the presence of robots in the healthcare sector to cater applications such as critical surgeries, rehabilitations, and medicines distribution, among others. Japan, on the other hand, is investing heavily in developing safety standards and verification techniques which is expected to increase the market of service robots in the coming years in the country, which is indirectly expected to fuel the market of telepresence robots in the country.
Rest of the world (RoW) comprise of Telepresence Robots market in The Middle East & Africa and Latin America. RoW Telepresence Robots market is expected to grow with slow and steady growth rate due to lack of technical skills and infrastructure.
Competitive Dynamics
Market Research Future has recognized following major players in telepresence robots market- MantaroBot, AMY Robotics, AXYN Robotique, Suitable Technologies, Double Robotics, Xandex (took over production and sale of the Kubi from Revolve Robotics), VGo Communications (a subsidiary of Vecna), Anybots Collaborate i/o, SuperDroid Robots, Adept MobileRobots, Ava Robotics (a subsidiary of iRobot), Orbis Robotics, Endurance, Giraff Technologies, Inbot Technology Ltd., and FutureRobot.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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