The Global Telepresence Robots Market to Flourish with $666.86 Million worth Revenue by 2028

As per a Triton Market Research report, the global telepresence robots market, which accounted for $152.01 million in 2018, is set to grow at a CAGR of 16.33% by the year 2028.

A recent study by Triton Market Research titled 'Global Telepresence Robots Market,' covers the Global Analysis and Forecasts for 2019-2028 by Product Type (Mobile [Autonomous, Remotely Operated], Stationary), Components (Hardware [Head (Microphone, Camera, Display, Speaker), Body (Sensors & Control Units, Power Supply, Others)], Software), Application (Healthcare, Manufacturing, Education, Personal, Enterprise, Other Applications), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

Telepresence robots have been a substantial area of interest for the robotics industry as they provide reliable and secure remote presence services for personal as well as commercial usage. The International Federation of Robotics, in its 2018 edition of the World Robotics Report, stated that, approximately 10,400 public relation robot units were sold in 2017, most of which were telepresence robots.

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The Triton report estimates the global telepresence robots market to chart a CAGR of 16.33% during the forecasting period 2019-2028, generating revenues of $666.86 million by 2028. The growing adoption of telepresence robots for elderly care, cross-border businesses preferring virtual interactions/communications, and enterprises looking to increase their operational efficiency are driving the growth of this market. However, the cost constraints and high proneness to operational failures are limiting the market growth.

The market for telepresence robots is primarily categorized into three main segments, product type, components, and application. Product type is bifurcated into mobile and stationary, and the former is further segmented into autonomous and remotely operated. The second main segment, components, is segmented into two parts, hardware and software. Further, hardware is bifurcated into head and body. Head includes microphone, camera, display, and speaker; whereas, body includes sensors & control units, power supply, and others. The third main segment, application, is classified into healthcare, manufacturing, education, personal, enterprise, and other applications.

The Asia-Pacific is estimated to be the fastest-growing region in the global telepresence robots market. It is also expected to be the largest market during the forecast period. Japan, South Korea, and China are the countries holding the major share of the market in the APAC region. The growth of this region can be attributed to the presence of small- and medium-sized enterprises, as well as large firms; they have adopted telepresence robots on a wide scale. Moreover, the Asia-Pacific has a well-established manufacturing sector, owing to the abundance of cheap labor. Major manufacturers like LG Electronics, Toshiba, and Panasonic are present in the region, thereby making it a prime market for the development of telepresence robots.

Inbot Technology, Ava Robotics Inc, Xandex Inc, Double Robotics Inc, VGo Communications Inc, Superdroid Robots Inc, InTouch Technologies Inc, RBot, TRC Robotics (TRC), Ohmnilabs Inc, Anybots 2.0 Inc, Suitable Technologies Inc, Mantaro Networks Inc, Axyn Robotique, and Amy Robotics Co Ltd are the primary contenders in the telepresence robots market.

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Question & Answer: Telepresence Robots Market

Question 1: What factors are driving the growth of the telepresence robots market?
Answer: The growing adoption of telepresence robots for elderly care, cross-border businesses preferring virtual interactions/communications, and enterprises looking to increase their operational efficiency are driving the growth of this market.

Question 2: What factors are impeding the telepresence robots market growth?
Answer: The cost constraints and high proneness to operational failures are limiting the telepresence robots market growth.

Question 3: Which region is influencing the growth of the telepresence robots market?
Answer: The Asia-Pacific is estimated to be the fastest-growing region in the global telepresence robots market. It is also expected to be the largest market during the forecast period. Japan, South Korea, and China are the countries holding the major share of the market in the APAC region. The growth of this region can be attributed to the presence of small- and medium-sized enterprises, as well as large firms; they have adopted telepresence robots on a wide scale.

Moreover, the Asia-Pacific has a well-established manufacturing sector, owing to the abundance of cheap labor. Major manufacturers like LG Electronics, Toshiba, and Panasonic are present in the region, thereby making it a prime market for the development of telepresence robots.

Question 4: Which are the renowned companies operating in the telepresence robots market?
Answer: Inbot Technology, Ava Robotics Inc, Xandex Inc, Double Robotics Inc, VGo Communications Inc, Superdroid Robots Inc, InTouch Technologies Inc, RBot, TRC Robotics (TRC), Ohmnilabs Inc, Anybots 2.0 Inc, Suitable Technologies Inc, Mantaro Networks Inc, Axyn Robotique, and Amy Robotics Co Ltd are the primary contenders in the telepresence robots market.

Related Report:
Global Cloud Collaboration Market

The global collaborative robots market is set to show substantial revenue growth over the estimated period of 2019-2028, generating $8288.45 million by 2028, while exhibiting a CAGR of 31.13%. The primary reasons attributing for the growth of this market include the widening applications of collaborative robots and the growing demand for flexible automation & increased productivity, along with the declining prices & higher return on investment (RoI) of cobots.

Further, small- and medium-sized enterprises are increasingly adopting cobots. They are also being integrated with IoT features. Moreover, safety concerns with traditional industrial robots make collaborative robots the preferred choice. The demand from automation-driven industries in developing nations and the rising demand for collaborative robots with high-capacity are creating lucrative opportunities for market growth.

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