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With a rising accentuation on worldwide availability, organizations and people are looking for effective methods for connecting geological holes. Telepresence robots offer a convincing arrangement by giving an actual company experience, empowering clients to communicate with their environmental elements from a distance. Mechanical headways assume an essential part in driving the telepresence robots market. As advancements in mechanical technology, artificial intelligence (AI), and availability keep on developing, telepresence robots are turning out to be more modern and able. Upgraded elements like independent direction, further developed sensor innovations, and top-quality cameras add to a consistent and vivid telepresence experience. These innovative improvements upgrade client experience as well as expand the possible utilizations of telepresence robots across different ventures.
Furthermore, the return on initial capital investment for telepresence robots turns out to be more appealing, empowering reception in ventures where far off presence can essentially affect functional productivity and cost reserve funds. Telepresence robots arose as a significant instrument for remote work, virtual gatherings, and examinations, adding to their expanded interest during the pandemic. The shift towards hybrid work models and the acknowledgment of telepresence robots as a versatile arrangement during emergencies keep on molding the market scene.
The worldwide financial scene similarly essentially affects the telepresence robots market. Financial growth, modern patterns, and international variables impact the eagerness of organizations to put resources into creative innovations like telepresence robots. Financial collapses might prompt spending plan constraints, influencing the speed of reception in certain enterprises. Then again, times of monetary success can make ideal circumstances for expanded interest in state-of-the-art advancements.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 0.11 billion |
| Growth Rate | 11.25% (2024-2032) |
Telepresence Robots Market Highlights:
Global Telepresence Robots Market Overview:
The Telepresence Robots Market Size was valued at USD 0.11 Billion in 2023. The Telepresence Robots market industry is projected to grow from USD 0.1278 Billion in 2024 to USD 0.3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.25% during the forecast period (2024 - 2032). The development of technologically improved goods, the increased use of telepresence robots in the healthcare industry, and rising investment in the industry all contribute to the market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Telepresence Robots Market Trends
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Increasing Incidences of Chronic Disorders driving the market growth
Market CAGR to expand as telepresence robots can be used for routine monitoring and consultation from remote places, further fueled by rising rates of chronic disease and a rising proportion of the elderly population. According to UN figures, around 703 million individuals were 65 years of age or older in 2019, which is projected to rise to 1.5 billion by 2050. Telepresence robots can assist the elderly population to remain at home and interact with medical specialists for a checkup, lessening the pressure on medical facilities.
The adoption of medical telepresence robots is being further boosted by features of telepresence robots like efficient and quick two-way communication, the ability to connect remotely from any location to monitor and consult the patients, autonomous navigation, and healthcare-related features like an integrated stethoscope, screen body temperature, and fever warning. In most developing nations, the government's supportive measures and expanding financial support for robotics and artificial intelligence research and development are spurring breakthroughs and luring new players to the market for medical telepresence robots. The market for medical telepresence robots is expanding due to the number of major competitors offering cutting-edge solutions and the increased emphasis on R&D in response to shifting demand.
New investments are being attracted to the sector by the growing use of robotics in healthcare facilities and the development of communication technologies like 4G and 5G. The industry participants are encouraged to focus on research and development efforts to offer novel solutions to the quickly evolving technology and diverse client requirements. The market for medical telepresence robots is expanding due to the rise in companies offering cutting-edge goods and solutions with modern characteristics.
Business expenses are rising due to the expanding usage of robotics in healthcare settings and the development of communication technologies like 4G and 5G. Market participants are increasing their spending on research and innovation activities to develop new solutions due to the rapidly changing nature of technology and the fluctuating demand for goods and services. Furthermore, the sector for healthcare telepresence robots is progressing due to the rise in businesses supplying cutting-edge products and services with improved capabilities. Thus, driving the Telepresence Robots market revenue.
Telepresence Robots Market Segment Insights:
Telepresence Robots Type Insights
The Telepresence Robots Market segmentation, based on type, includes mobile and stationary. The stationary segment dominated the market, accounting for 65% of market revenue (0.1 billion). Since stationary telepresence robots have an edge over mobile ones in terms of consistency in network access, there are chances for specialized niche applications that take advantage of this. These technological foundations are making it possible for applications like remote health monitoring. The technology is anticipated to become increasingly popular as the number of individuals over 65 increases globally, particularly in nations like India and Japan.
Figure 1: Telepresence Robots Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Telepresence Robots End User Insights
The Telepresence Robots Market segmentation, based on end user, includes corporate, education, manufacturing, medical, and healthcare. The healthcare end-user category generated the most income in 2022. The primary drivers of market expansion are the expanding healthcare infrastructure and introduction of sophisticated telepresence robots in hospital settings that enable two-way communication from any distance for effective teleconsultation and monitoring. Growing government initiatives to deliver healthcare even in distant locations contribute to market expansion.
Telepresence Robots Component Insights
The Telepresence Robots Market segmentation, based on component, includes camera, sensor, control system, display, and microphone. The camera category generated the most income in 2022. The display, camera, microphone, and speaker are crucial telepresence robot components because they enable two-way virtual communication. Telepresence robots require completely working technological components for smooth operation. Through clarity and visualization, devices like the camera and display enhance distant communication circumstances. These robots have motorized stands linked to the monitor and are self-monitored.
Telepresence Robots Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American market area will dominate this market. The rapid use of robots and artificial intelligence in the healthcare industry and the presence of major companies in the market are credited with this region's rise. Additionally, it is anticipated that expanding senior population, increased disposable income, and the penetration of chronic diseases would drive the need for medical telepresence robots.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Telepresence Robots Market SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Telepresence Robots market accounts for the second-largest market share. The growing demand for robots in the medical industry for vital tasks like online patient surveillance and physician consultation and their expanding use in healthcare facilities for tasks like bedside nursing, patient data collection, and automated lab support are key drivers of this segment's growth. Further, the German Telepresence Robots market held the largest market share, and the UK Telepresence Robots market was the fastest growing market in the European region
The Asia-Pacific Telepresence Robots Market is expected to grow at the fastest CAGR from 2023 to 2032. The expanding government efforts in robotics and AI and the expanding use of robotics in healthcare departments. Additionally, the region's market for medical telepresence robots is expanding due to increased market participants, particularly in China and Japan. Moreover, China’s Telepresence Robots market held the largest market share, and the Indian Telepresence Robots market was the fastest growing market in the Asia-Pacific region.
Government initiatives and financing for research and innovation in automation and artificial learning are being stimulated, fostering innovation and luring new rivals in many economies. A greater focus on R&D in response to shifting needs and growth in the number of industry participants applying cutting-edge technology led to the creation of fresh alternatives, further affecting market expansion.
Telepresence Robots Key Market Players & Competitive Insights
For the purpose of assisting R&D activities and enabling the introduction of new pharmaceuticals to the market, leading market players are investing and giving finance. Businesses are also attempting to increase their market share through market developments, such as the launch of new goods, an increase in investments, an increase in the pipeline of available products, and partnerships with other companies. Businesses in the Telepresence Robots industry sector must provide the current generation of products to the customer base to meet their needs.
By enhancing their supply chains, the market leaders in the global Telepresence Robots industry sector are helping to lower operational expenses. Major Telepresence Robots market players include AMY Robotics, AXYN Robotique, MantaroBot, Suitable Technologies, Double Robotics, and VGo Communications.
Technology startup Double Robotics creates the Double and Double2 telepresence robots, which run on iPads. Double, which resembles a Segway PT, costs $2,499. The robot may be operated with a laptop, tablet, or smartphone and has an accelerometer and gyroscope sensors in its base. Y Combinator provided seed money to Double Robotics. Seven Fortune 500 firms have placed preorders for Double, which Johnson & Johnson and The Coca-Cola Company are now evaluating. Preorders amount to more than $500,000. Deliveries to customers started in February 2013. The business estimates that since 2013, 8000 robots have been sold since January 2017. The business unveiled the Double 3, a robot designed to boost remote employees' and distance learners' productivity, in August 2019.
The cutting-edge technology business Amy Robotics specializes in the research and development of service robots that improve quality of life through robotic technologies, goods, and services. Their company specializes in home and commercial service robots and robots for families, hospitals, hotels, museums, and other public institutions. They can be used for various purposes, including everyday living, healthcare, rehabilitation, home security, telepresence, entertainment, education, and public information services. Additionally, we provide on-demand services and customizable robots. They are dedicated to using cutting-edge robotics technology to improve people's quality of life. Our objective is to build a service robotics international corporation that is technology-driven.
Key Companies in the Telepresence Robots market include
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AMY Robotics
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AXYN Robotique
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Suitable Technologies
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Double Robotics
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VGo Communications (a subsidiary of Vecna)
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Xandex (took over production and sale of the Kubi from Revolve Robotics)
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Anybots Collaborate i/o
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SuperDroid Robots
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Adept MobileRobots
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Ava Robotics (a subsidiary of iRobot)
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Orbis Robotics
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Inbot Technology Ltd. Endurance
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Giraff Technologies
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FutureRobot
Telepresence Robots Industry Developments
April 2022: To include the OhmniClean and Ohmni Telepresence Robots into important government contracting vehicles, OhmniLabs and Lovell Government Services, an SDVOSB, have announced their partnership. This innovation is important because it simplifies the purchasing process for government customers and helps government organizations reach their SDVOSB procurement goals.
January 2022: Cowboys Starbot, a ground-breaking telepresence robot, was unveiled by the Dallas Cowboys. Thanks to the robot, Dallas Cowboys athletes, cheerleaders, alumni, administrators, and others can visit patients creatively and securely digitally. The robot provides a concrete foundation for virtual interactions by incorporating video conferencing technology into a remote-controlled platform.
Telepresence Robots Market Segmentation:
Telepresence Robots Type Outlook
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Mobile
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Stationary
Telepresence Robots End User Outlook
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Corporate
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Education
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Manufacturing
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Medical
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Healthcare
Telepresence Robots Component Outlook
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Camera
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Sensor
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Control System
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Display
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Microphone
Telepresence Robots Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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