Telepresence Equipment Market size is expected to amass considerable profits over 2021-2027. This is a result of the rising deployment of virtual meeting systems with telepresence capabilities to limit travel expenses and replace office visits for larger meetings. Significant focus on the development of holographic telepresence, immersive communication, and AR/VR as the default way of communication, especially in Europe, will further drive the industry demand.
Telepresence refers to an integrated solution that enables seamless collaboration among people at remote locations. It consists of some individual components like codec (the video camera and controller), microphone and speakers, and monitor. Through this real-time, two-way collaboration, people can share data and communicate with ease from their own physical locations.
Mounting adoption of telepresence robots in the healthcare sector to remotely consult with patients is a key trend bolstering the telepresence equipment market size. For example, Dignity Health started using telepresence robots to rapidly diagnose stroke patients and deployed these machines in emergency and intensive care units, as well at most of its California-based hospitals. Rapid advancements in 5G technology and the subsequent rise in focus on replacing in-person meetings with telepresence video conferencing will also amplify the market share in the upcoming years. Despite the positive growth environment, high costs associated with the installation of telepresence systems with sufficient bandwidth may create roadblocks to the industry growth in the years ahead.
Considering the type, telepresence market share from the immersive telepresence segment will exhibit a high growth rate through 2027, due to the introduction of various low-cost immersive telepresence systems for remote education. These solutions have also gained widespread interest from clinical care applications to assist patients with mobility complications. However, the limitations regarding the user experience of this technology may hinder the segment growth to some extent over the forecast spell.
On the regional front, the Asia Pacific telepresence equipment market is set to register a remarkable revenue by 2027. This is due to the escalating use of telepresence robots as personal assistants by various companies and hospitals in countries like China and Japan. For example, Tokyo-based Ory Laboratories announced the development of telepresence robots known as avatar robots. This new solution, dubbed OriHime Biz, was designed to remotely offer care services to patients with chronic health conditions amid the coronavirus pandemic.
Prominent players functioning in the telepresence equipment market include Avaya Inc., Vidyo, Inc. (Enghouse Systems), Polycom (Plantronics), Cisco Systems, Huawei Technologies, Array Telepresence, and ZTE Corporation, among others. These companies are implementing strategies like innovative product launches, collaborations, and acquisitions to boost their share in the global market.
For instance, in March 2021, Ava Robotics partnered with SIGNA and FRINK Advanced Services, a Cisco partner, to create a digital, remote sales experience via Ava’s telepresence robots. These Cisco Webex-powered telepresence robots were designed to assist clients and realtors in conducting contactless, remote home tours to ensure seamless interaction with sales agents.
The ongoing coronavirus pandemic has resulted in unprecedented supply chain disruptions, leading to severe financial and operational complications. The implementation of strict lockdown and other restrictions have slightly impacted the sales of technical equipment like webcams and laptops, particularly during the initial months of the pandemic. The drop in sales and productivity of these devices have created an indirect impact on the adoption of telepresence technology over the past months.
However, video conferencing has become an essential tool to remain connected with remote workers during the pandemic. One of the crucial technologies that facilitates non-contact interactions is telepresence, as it can provide immersive interactions among remote participants, which is of particular significance in the pandemic era. The introduction of telepresence robots built to enable COVID-19-infected patients to stay connected from hospitals and healthcare centers may thus help the telepresence equipment market regain traction in the coming years.
This market research report on telepresence equipment includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027, for the following segments:
The above information has been provided for the following regions and countries: