Telepresence Robot Market

Telepresence Robot Market Outlook (2023 to 2033)

A newly published report by Fact.MR says that the valuation of the global telepresence robot market is US$ 334 million in 2023. Global demand for telepresence robots is expected to reach a valuation of US$ 1.6 billion by the end of 2033, progressing at an exceptional CAGR of 17% from 2023 to 2033. North America is projected to hold a noteworthy share of the global market revenue over the forecast period.

Increasing demand for telepresence robots from the healthcare industry is estimated to serve as a crucial factor in accelerating market growth. Increased adoption of telepresence devices is due to the availability of supporting devices at economical prices, which is also predicted to boost their demand over the next 10 years.

A telepresence robot is also called 'Skype on Wheels'. Teleconferencing robots are electronic devices with wheels and are controlled from remote locations that have wireless Internet connectivity. They are remotely monitored autonomous robots, which are equipped with motorized desktop stands or smartphones. Telepresence technology is an assistive technology controlled by smartphones, computers, or tablets.

In the healthcare industry, operational efficacy has been improving in recent years owing to technological advancements taking place in telepresence robots. Growing advancements in robotic technology along with their wide level adoption in residential, educational, and other sectors are further boosting opportunities in the target industry. In recent years, significant developments have been taking place in robotic technology. Growing R&D activities in the target industry to provide more efficient telepresence avatars are also predicted to drive the market over the coming decade.

Increasing technical complexities, which are leading to operational failures are expected to adversely impact the expansion of the target market. Rising operating complications, which are related to telepresence robots, are also projected to curtail market growth. Lack of secure communication along with common protocol is projected to challenge market growth over the forecasted period from 2023 to 2033.

This recently published research report by Fact.MR, a market research and competitive intelligence provider, offers a holistic evaluation of the industry. Moreover, the report also provides a comprehensive analysis of key trends, segments, competitive landscape, restraints, and factors, which are playing significant roles in the global market.

Report Attributes	Details
Market Size in 2023	US$ 334 Million
Forecasted Market Value (2033)	US$ 1.6 Billion
Global Market Growth Rate (2023 to 2033)	17% CAGR
Prominent Regional Market	North America
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.

Which Aspects are Driving Global Telepresence Robot Market Growth?

“Healthcare Industry Generating Lucrative Growth Opportunities for Market Players”

Telemedicine is one of the growing technological advancements taking place in the healthcare sector. This includes remote patient monitoring by using digital technologies such as video conferencing tools and interaction between healthcare providers and patients while staying at remote locations. The growing adoption and popularity of telepresence robots in the healthcare sector are aiding market growth.

Virtual telepresence robots are predicted to aid in the remote monitoring of patients in rural hospital settings where the physical presence of medical specialists is not possible. In such conditions, robots can be deployed to connect patients with respective healthcare providers.

Moreover, a nurse can also be deployed to connect and monitor patients’ recovery at home. Therefore, such adoptions are estimated to ensure quality health support at remote locations. Rapid growth along with advancement in communication technology is resulting in completing ecosystem, which is supporting market growth.

Robohub mentioned that a medical robot is a customizable robot used to monitor changes in the medical bedside data along with the behavior of patients. It immediately sends alerts indicating certain critical changes in the condition of patients without any delay to the respective healthcare professional or nurse.

For instance :

• Pepper deployed robotics amidst the pandemic to enable patients, who were in the intensive care ward, to communicate with their loved ones. These robots could stand near the bed of patients and then use tablets on its chest to provide video conferencing services.

There has been a significant increase in the demand for telepresence robots in the medical industry for critical tasks such as online physical consultation, patient surveillance, etc. The growing use of telepresence robots in healthcare facilities for specific tasks such as patient data collection and lab automated support is also anticipated to create growth opportunities for market players.

“Government Programs & Funding for Innovation & Study in Automation & Artificial Learning”

Government bodies around the world are launching various programs and providing funding for innovation and study in automation and artificial learning, which is boosting innovations and driving new competitors across geographies. Rising number of participants implementing cutting-edge technologies is also contributing to growth opportunities in the market. High concentration on R&D activities in response to shifting demand is leading to the development of new alternatives in the industry.

What Seems to be Denting Market Expansion to Some Extent?

“Technical Complexities and Operating Complications”

Increasing incidences of technical complexities, which are leading to operational failures are predicted to adversely impact expansion opportunities in the market. Moreover, growing operating complications in remote presence robots are also projected to curtail opportunities over the coming 10 years.

“Lack of Secure Communication and Common Protocols”

An absence of secure communication along with common protocols is estimated to have a negative impact on market growth. The lack of secure channels is predicted to result in security issues, which can lead to lower confidence among end users.

How Opportunistic is the Telepresence Robot Market for New Companies?

“Innovation of More Advanced Telepresence Robots - Changed Approach in Working Method”

Just like video conferencing and smartphones impacted the manner of our communication, telepresence robots are also predicted to fundamentally change our method of working and learning. The development of more advanced telepresence robots with robot control systems by new entrants can encourage collaboration, increase engagement, and improve an individual’s ability to innovate. These features can be enjoyed by end users in the comfort of their couches.

Improved robot vision systems, robotic process automation, radiosurgery, radiotherapy robots, etc., are some key factors, which are predicted to favor new entrants to establish their reputation in the market.

Which Regional Markets are Profitable for Telepresence Robot Providers?

“Early Acceptance of New Technologies Driving Adoption of Telepresence Robots in North America”

A detailed analysis conducted by Fact.MR provides an eagle-eye view of the five prominent regions, which are operating in the global market. Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa are key regional areas, which are driving opportunities in the target market across the globe. North America is projected to contribute to increased demand for telepresence robots due to the early acceptance of new technologies and strong network infrastructure.

The region is also estimated to serve as a key contributor to the global industry, as it is the home of key telepresence robot vendors. Further, higher purchasing power, the readiness of end users to upgrade their experience, and the presence of well-defined regulations are driving growth opportunities in North America. Educational institutions have adopted these solutions to improve and enhance students’ learning experiences.

The increased use of telepresence robots in the healthcare sector for remote patient monitoring along with online medical consultations is also boosting their demand. The rising geriatric population is also expected to support the demand for telepresence robots for healthcare purposes.

• According to the Population Reference Bureau, the population of Americans aged 65 and more is forecasted to reach 95 million in 2026, which was 52 million in 2018.

“Advent of User-friendly Communication Channels Generating Market Opportunities in Asia Pacific”

Asia Pacific is anticipated to experience rapid growth in the forecast period due to the advent of user-friendly communication channels. Moreover, upcoming technological inventions in the healthcare industry are also predicted to open up new avenues for vendors of telepresence robots.

Country-wise Insights

Why are Telepresence Robot Providers Investing in Japan?

“Flourishing Telerobot Sector in Japan Opening New Avenues”

In Japan, significant importance is given to the use of telerobots to enable novel forms of factory and service work and this is attributed to demographic challenges occurring due to the rapidly aging and shrinking population.

Which Factors Enable the United States to Hold a Significant Market Share in North America?

“Increased Advancements in Robotic Technology in the United States”

Significant advancements are taking place in robotic technology in the United States. In addition, the increased adoption of telepresence robots in residential and educational sectors is also contributing to revenue generation opportunities.

Why is the Market for Telepresence Robots Expanding Rapidly in Germany?

“Adoption of Smart Home Technologies Stimulating Demand for Telepresence Robots in Germany”

There has been a rising use of telepresence robots in German homes in recent years. The adoption of smart home technologies along with the development of telepresence and social robots to provide care and improve the lives of the elderly and people in need is boosting its sales.

Category-wise Insights

Which Component of Telepresence Robots is Most Widely Deployed?

“Rising Traction for Body Segments in Global Market”

Based on component, the global market is classified into head and body. The cameras, speakers, microphones, and displays are sub-segments of the head segment. The body segment is further divided into sensors, control systems, and power sources. Between these two, the body segment is anticipated to hold a significant share of global revenue owing to rising technological innovations, including autonomous operations and artificial intelligence (AI).

Why are Mobile Telepresence Robots So Popular?

“Mobility Feature Stimulating Deployment of Mobile Telepresence Robots”

The global market is segmented into mobile and stationery, based on type. The mobile telepresence segment is predicted to generate a noteworthy share of global revenue over the coming years. Mobility is a significant feature of telepresence robots, which are used in the surveillance, security, and defense sectors.

How is the Healthcare Sector Poised to Drive Growth of the Telepresence Robot Market?

“Increasing Deployment of Remote-controlled Telepresence Robots in Healthcare”

Education, enterprise, healthcare, homecare, and other end users are expected to fuel revenue generation opportunities over the coming 10 years. Among these, the healthcare industry is predicted to generate significant revenue owing to the rising deployment of remote-controlled telepresence robots, which enable doctors to interact with their patients for training and consulting.

Various R&D teams from healthcare research organizations are developing telepresence robots, which can be utilized for remote surgery to save lives of patients. They can be controlled by surgeons operating from remote locations.

Key Market Players

Prominent providers of telepresence robots are making huge investments in various promotional activities. Service providers also emphasize the strengthening of supply chain management systems. Effective supply chain channels ensure the quick and safe delivery of services to end users.

The market is highly competitive in nature due to the presence of various players around the world. Further, they are involved in new developments, innovations, etc., to gain more profits.

For instance :

• In April 2022, Shortcut Robotics began beta testing its first telepresence robot. To complete the process efficiently and make updates in each phase, the process of testing is planned to be completed in two phases.
• Researchers from the Integrated Systems Engineering Group of the University of Malaga developed a telepresence robot in May 2021. This telepresence device allowed coronavirus patients, living in isolation and in hospital wards, to communicate with their family members or loved ones.
• In response to limitations imposed during COVID-19, Ava Robotics developed a fully digital telepresence robot in collaboration with SIGNA and Cisco partner FRINK Advanced Services in March 2021.

Key companies in the telepresence robot market are Double Robotics, Suitable Technologies, Inbot Technology, Mantaro Networks, VGO Communications, Qihan Technology Co. Ltd., Ava Robotics Inc., Omron Corporation, iRobot Corporation, and Fellow Inc.

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