Analyzing the Growth and Potential of the Global Telepresence Robot Market

A fusion of video collaboration solutions with robotics technology resulted in the development of the telepresence robot. With the first idea of telepresence robot proposed around 70 years ago, the technology has come a long way. With technological advancements in the robotics industry, such as artificial intelligence (AI) and machine learning, telepresence robots are emerging as an ideal solution for virtual meetings.

According to the latest market intelligence report published by BIS Research titled “Global Telepresence Robot Market by Valueand Volume – Analysis and Forecast (2018-2023),” the global telepresence robot market is anticipated to reach $218.6 million by 2023, witnessing a growth of 26.53% during the forecast period, 2018-2023.

Amongst the two kinds of telepresence robots namely, mobile and stationary, the former category is expected to dominate the market in terms of both growth and revenue. Further, in terms of application, the healthcare segment is expected to grow at the highest CAGR during the forecast period. The other application areas of telepresence robots include education, enterprise, personal, manufacturing, and others. Along with these applications, telepresence robots also have the potential for growth in telemedicine.

The telepresence robot market is also segmented on the basis of components, that include hardware and software components. Hardware components constitute of camera, display, speaker, microphone, power supply, sensors, and control units.

Additionally, the report by BIS Research also analyzes the market for four prominent regions North America, Europe, Asia-Pacific, and Rest-of-the-World. While North America dominated the market with the largest share in the market in 2017, Asia-Pacific is projected to witness the highest growth during the forecast period.

The study provides a holistic view of the market by analyzing the factors driving the growth and restraining the growth of the market. Both established companies and emerging startups are investing in the market and are adopting strategies, such as business expansions and product launches to strengthen their position in the market.

With the immense potential that telepresence robots holds and the wide array of application sectors where they are being deployed, the global telepresence robot market is anticipated to grow and expand at a rapid pace.

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