Telepresence Robot Market to Reach $1.6 Billion by 2033, Growing at 17% CAGR

According to a recently released Fact.MR analysis, the worldwide market for telepresence robots is expected to be valued US$ 334 million by 2023. By the end of 2033, the market for telepresence robots is predicted to be valued US$ 1.6 billion, growing at a remarkable rate of 17% CAGR between 2023 and 2033. Over the course of the forecast period, North America is anticipated to hold a notable proportion of the worldwide market revenue.

One of the main drivers of the market's expected acceleration is the healthcare sector's growing need for telepresence robots. The affordability of auxiliary devices has led to a rise in the use of telepresence devices, and over the next ten years, demand for these devices is expected to increase.

Download a Sample Copy Of Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=8524

Another name for a telepresence robot is "Skype on Wheels." Teleconferencing robots are wheeled electronic devices that may be operated remotely via wireless Internet access. These autonomous, remotely controlled robots have motorized desktop stands or cellphones attached to them. One type of assistive technology that may be operated by tablets, PCs, or cellphones is telepresence technology.

The improvements in telepresence robot technology have led to an improvement in operational efficacy in the healthcare sector in recent years. Opportunities in the target business are being further enhanced by the growing developments in robotic technology and their widespread application in residential, educational, and other sectors. Significant advancements in robotic technology have occurred recently.

Key Companies Profiled

• Double Robotics
• Suitable Technologies
• Inbot Technology
• Mantaro Networks
• VGO Communications
• Qihan Technology Co. Ltd.
• Ava Robotics Inc.
• Omron Corporation
• iRobot Corporation
• Fellow Inc.

It is anticipated that growing operational failures due to increasing technical complexity would have a negative effect on target market expansion. Increased operational difficulties associated with telepresence robots are also anticipated to restrain market expansion. The absence of a uniform protocol and secure communication will likely provide a hindrance to market expansion during the 2023-2033 forecast period.

The Healthcare Sector Offers Market Participants Lucrative Growth Prospects

One of the many technical developments that are occurring in the healthcare industry is telemedicine. This involves communication between patients and healthcare professionals who are located in remote areas, as well as remote patient monitoring through the use of digital technology like video conferencing tools. Telepresence robots are becoming more and more popular in the healthcare industry, which is supporting market expansion.

It is anticipated that virtual telepresence robots would help remotely monitor patients in remote hospital settings where medical professionals cannot physically be present. Robots can be used in these situations to link patients with the appropriate healthcare professionals.

Additionally, a nurse might be assigned to interact with and keep an eye on patients' recuperation at home. Thus, it is predicted that these adoptions will guarantee high-quality medical care in rural areas. Fast expansion and the development of communication technologies are creating a complete ecosystem, which is fostering market expansion.

According to Robohub, a medical robot is a programmable device that is used to track alterations in patient behavior and medical bedside data. It instantly and without delay notifies the appropriate nurse or healthcare expert of certain essential changes in the patients' condition.

Government Funding & Programs for Automation & Artificial Learning Research & Innovation

Global government organizations are initiating a range of initiatives and offering financial support for research and development in automation and artificial intelligence. This is stimulating new market players and fostering innovation in these fields beyond national boundaries. Growing market prospects are also being facilitated by an increasing number of players utilizing state-of-the-art technology. The industry is developing new alternatives as a result of a high focus on research and development efforts in response to changing demand.

Inadequate Common Protocols and Secure Communication
It is expected that the lack of uniform protocols and secure communication would hinder industry expansion. It is anticipated that the absence of secure routes would give rise to security problems, which may cause end users to lose faith.

Read More: https://www.factmr.com/report/telepresence-robot-market

Competitive Landscape:

Leading telepresence robot suppliers are heavily investing in a range of marketing initiatives. The improvement of supply chain management systems is another point of emphasis for service providers. Efficient supply chain pathways provide the prompt and secure provision of services to final consumers.

The existence of several businesses worldwide makes the industry very competitive. They also engage in new inventions, improvements, etc. in an effort to increase their revenues.

As an example:

• Shortcut Robotics started beta testing their first telepresence robot in April 2022. The testing procedure is scheduled to be finished in two stages in order to complete the process effectively and make modifications in each step.

• In May 2021, researchers from the University of Malaga's Integrated Systems Engineering Group created a telepresence robot. With the use of this telepresence technology, hospital ward and isolation coronavirus patients were able to stay in touch with their loved ones.

• Ava Robotics, in partnership with SIGNA and Cisco partner FRINK Advanced Services, created a completely digital telepresence robot in March 2021 in response to constraints imposed during COVID-19.

Segmentation of Telepresence Robot Industry Research:

By Component :
Head
Body
By Type :
Stationary
Mobile
By Application :
Education
Enterprise
Healthcare
Homecare
Others
By Region :
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

As organizations and individuals continue to recognize the benefits of enhanced communication, mobility, and efficiency offered by telepresence robots, the market is expected to see significant innovation and investment. The future of the Telepresence Robot Market is promising, with substantial opportunities for development and expansion in the coming years.

Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com

About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

This release was published on openPR.