Telepresence Robot Market worth $312.6 million by 2023.
Northbrook, IL -- (SBWIRE) -- 12/13/2018 -- The overall telepresence robot market was valued at USD 129.8 million in 2017 and is expected to reach USD 312.6 million by 2023, at a CAGR of 16.5% from 2018 to 2023. Enhanced operational efficiency in enterprises and high demand for telepresence robots for healthcare applications are the major factors driving the growth of the telepresence robot market growth. For this study, the base year considered is 2017, and the forecast period is from 2018 to 2023.
High demand from the healthcare industry to drive the global telepresence robot
The global telepresence robot market size is estimated to reach 312.6 million by 2023 largely due to the growing demand from the healthcare industry. Robotics telepresence is highly adopted in the healthcare industry to socialize with elderly people. In the healthcare sector, telepresence robots can perform several tasks, such as patient monitoring, remote visiting, delivering medicines and food, reminding patients to take medicines on time, as well as other tasks such as connecting to doctors and nurses for medical or any other assistance. Telepresence robots in the healthcare industry facilitate virtual communication among doctors, patients, medical students, and therapists located anywhere across the world.
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During this research study, major players operating in the telepresence robot market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size.
The telepresence robot market has been segmented on the basis of component into head components, which include camera, display, speaker, and microphone; and body that includes power source, sensor and control system; and other components comprising wheels, body materials, and accessories. The telepresence robot market for the body component is expected to grow at the highest CAGR during the forecast period. As the technological advancement will lead to the complexity in terms of features in telepresence robots, such as artificial intelligence (AI) and autonomous operations, the value of body parts in telepresence robots will increase faster than head components.
The telepresence robot market based on type has been segmented into stationary and mobile robots. The market for mobile telepresence robots is expected to grow at a higher CAGR from 2018 to 2023. The application of stationary telepresence is limited only to particular areas as the stationary robot is used mainly for training purposes in almost every vertical. The mobility is already a major feature of mobile telepresence, and because of its added advantages, these telepresence robots can also find applications in several new verticals, such as defense, surveillance, and security.
The telepresence robot market based on application has been segmented into education, healthcare, enterprise, homecare, and others that include warehouse, surveillance, and defence. The market for healthcare applications is expected to grow at the highest CAGR during 2018–2023. Remotely controlled telepresence robots enable doctors to interact with their patients for consulting and training. Researchers have been developing telepresence robots that can be used for remote surgery to save lives and can be controlled by remote surgeons. These benefits are driving the overall telepresence market in the healthcare sector. The market for education applications is expected to grow at the second-highest CAGR during the forecast period.
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Double Robotics (US), Inbot Technology (China), Suitable Technologies (US), Mantaro Networks (US), VGo Communications (UK), InTouch Technologies (US), Qihan Technology (China), Amy Robotics (China), Anybots (US), SuperDroid Robots (US), Ava Robotics (US), Camanio Care (Sweden), Wicron (Russia), Xandex (US), Rbot (Russia), AXYN Robotique (France), OhmniLabs (US), Swivl (US), Xaxxon Technologies (Canada), and Hease Robotics (France) are a few key players in the telepresence robot market.
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