Telepresence Robot Market Is Expected To Accelerate At A Whopping 17% CAGR, Reaching US$ 1.6 Billion by 2033 | Fact.MR Report

Advancements in Robotic Technology Generating Huge Demand for Telepresence Robots

Rockville , April 24, 2023 (GLOBE NEWSWIRE) -- A recently published research report by Fact.MR, a provider of market research and competitive intelligence, reveals that the global telepresence robot market is expected to reach a valuation of US$ 1.6 billion by the end of 2033, expanding at an exceptional CAGR of 17% during the assessment period (2023 to 2033). Rising demand for telepresence robots from the healthcare industry is expected to drive market growth opportunities over the next 10 years.

A telepresence robot is a smartphone- or computer-controlled robot with an alien presence. Telepresence robots are also referred to as 'Skype on Wheels'. Telepresence avatars offer various varieties and the robot can control the complete view of its surroundings instead of having a stationary view of target participants.

Get Free Sample Copy of This Report:

Improved operational efficiency in different medical organizations owing to technological advancements and virtual interactions through telepresence robots is anticipated to drive market growth. Telepresence robots come with different features, including zoom capabilities, laser pointers, and self-directed driving for improved convenience and communication. Users can interact and view remote environments, including manufacturing plants, nursing homes or hospitals, and warehouses, by using these robots.

Key Takeaways from Market Study

  • The global telepresence robot market is valued at US$ 334 million in 2023.
  • Worldwide demand for telepresence robots is predicted to increase at a high-value CAGR of 17% from 2023 to 2033.
  • The global market is forecasted to reach a valuation of US$ 1.6 billion by the end of 2033.
  • North America is projected to hold a significant share of global market revenue over the next 10 years.

Growing advancements in robotic technology, increased adoption of telepresence robots in residential & educational sectors, and rising R&D activities for product advancements are predicted to generate lucrative opportunities for players in the target industry, says a Fact.MR analyst.

Get Customization on this Report for Specific Research Solutions:

Key Companies Profiled in This Report

  • Double Robotics
  • Suitable Technologies
  • Inbot Technology
  • Mantaro Networks
  • VGO Communications
  • Qihan Technology Co. Ltd.
  • Ava Robotics Inc.
  • Omron Corporation
  • iRobot Corporation
  • Fellow Inc.

Increasing Demand for Telepresence Robots in Healthcare Industry

In recent years, there has been a noteworthy increase in the demand for telepresence robots in the healthcare industry, which is further accelerating growth opportunities. Increased adoption of telepresence robots is attributed to the easy availability of supporting devices due to their cost-effectiveness. Moreover, technological advancements in telepresence robots to increase the operational effectiveness of medical procedures are also contributing to enhanced market growth.

Market Suffering from Rising Technical Complexities and Lack of Secure Communication Protocol

There are certain technical complexities, which are leading to operational failures. These complications associated with the operation of telepresence robots are also estimated to curtail expansion opportunities. The lack of a secure communication protocol is also anticipated to further challenge providers of telepresence robots.

Winning Strategies

Key market players are investing in new developments, product launches, etc., to provide more efficient solutions and to gain a competitive edge in the industry.

For instance,

  • In February 2020, GoBe Robots introduced a new telepresence robot, which is predicted to reduce the emissions of CO2 by thousands of tonnes.
  • In August 2019, Blue Ocean Robotics acquired Beam, which is a remote-controlled telepresence robot. As per Blue Ocean Robotics, the company has taken sole possession of facilities, which work on hardware inventories, Beam robots, and other related assets.

Key service providers of telepresence technology 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

Buy this Premium Research Report:

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the telepresence robot market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights into the market based on component (head, body), type (stationary, mobile), and application (education, enterprise, healthcare, homecare, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

Explore More Related Studies Published by Fact.MR Research: 

Smart Badges Market Demand: The global smart badge market is valued at US$ 21 billion in 2023 and is forecasted to garner US$ 50 billion by 2033, expanding at an impressive CAGR of 9% from 2023 to 2033.

Location Intelligence Market Outlook: The global location intelligence market currently stands at a valuation of US$ 19.2 billion and is estimated to amass a revenue of US$ 79.8 billion by the end of 2033.

Smart-Connected Wallets Market:  The global smart-connected wallets market is set to increase from a valuation of US$ 280 million in 2023 to US$ 550 million by the end of 2033.

About Fact.MR

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.

US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Connect to Author: Mr. Shubham Patidar
Sales Team:
Follow Us: LinkedIn | Twitter | YouTube