DUBLIN--(BUSINESS WIRE)--The "Telepresence Robots Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The telepresence robots market was valued at USD 165.4 million in 2019 and is expected to reach a value of USD 184.47 million by 2025, at a CAGR of 11.53% over the forecast period (2020-2025).
Telepresence robots are remotely monitored autonomous robots equipped with a smartphone or motorized desktop stands which are connected to a camera or a monitor. The telepresence robot is assistive technology.
Companies Mentioned
- Ava Robotics Inc.
- Double Robotics Inc.
- AMY Robotics
- Mantaro Product Development Services Inc.
- Inbot Technology Ltd
- InTouch Technologies Inc. (Teladoc Health)
- Beam Telepresence ( Blue Ocean Robotics)
- VGo Communications Inc. (Vecna Inc.)
- Wicron Company
- Endurance Robots
Key Market Trends
User Controlled Remote Presence Capabilities to Drive the Market Growth
- One of the significant aspects that have been a key decisive factor for most consumers in the market is the flexibility of the telepresence devices. Either it is in the field of education in schools or universities, or medical, business, or security, the telepresence robots allow the user to go live according to her/his convenience.
- Telepresence robots are equipped with sensors, accelerators, video conferencing technologies, etc., and can be remotely monitored. The market has seen an influx of new vendors (mostly startups), which has shaped the market altogether. The Double Robotics introduced the Double 3 that has an array of 3D sensors and is designed to assist remote workers.
- It also adds to the cost factor where business persons can collaborate with their peers without the need for traveling. Engineers, for instance, can guide the support persons and help them through the maintenance process for off-site and remotely located centers.
- Moreover, this feature also makes it prominent for applications in medical support where critical medical actions can be carried out in case of emergencies. As the number of people aged more than 65 grows across the world, particularly in countries, such as India and Japan, many will look to stay at home, rather than in an assisted living or nursing homes, and telepresence robots can be an important factor in helping them to achieve that independence.
North America is Expected to Hold a Major Market Share
- North America is estimated to have a significant demand for such robots, considering the strong network infrastructure and acceptance of new technologies. The region is also expected to be a key contributor to the technology, as it houses prominent telepresence robot vendors.
- The telepresence robots meant for commercial applications are currently priced premium, in the region, thus requiring high initial investments. The presence of critical supporting infrastructures, such as communication and power, makes it a more favorable market for the vendors to pitch in the products in the regional market.
- The presence of the defined regulations, higher purchasing power, and the readiness of the end-user industry for upgrading the experience have been driving factors in the region. Furthermore, educational institutions, such as schools in the region, are promptly using technological products to enhance and improve the learning experience of the students. This has also helped in making the regional market enjoy the dominant share in this market.
- The region has witnessed significant competition for telepresence robots due to the cheaper rate of the robot. For instance, Beam, which is recently acquired by blue ocean caters two products, smaller robot that is priced around USD 2,000-USD 4,000 for low-end consumers, and a larger Beam Pro that sells for around USD 15,000 for high-end devices.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 User Controlled Remote Presence Capabilities Aids Market Growth
4.4 Market Restraints
4.4.1 Higher Costs of Maintenance of Telepresence Robots
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Stationary
5.1.2 Mobile
5.2 By End-user Application
5.2.1 Education
5.2.2 Healthcare
5.2.3 Business
5.2.4 Security
5.2.5 Other End-user Applications
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Ava Robotics Inc.
6.1.2 Double Robotics Inc.
6.1.3 AMY Robotics
6.1.4 Mantaro Product Development Services Inc.
6.1.5 Inbot Technology Ltd
6.1.6 InTouch Technologies Inc. (Teladoc Health)
6.1.7 Beam Telepresence ( Blue Ocean Robotics)
6.1.8 VGo Communications Inc. (Vecna Inc.)
6.1.9 Wicron Company
6.1.10 Endurance Robots
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/84xvpr
