Market Overview
The global telepresence robots market was analyzed by Market Research Future (MRFR) and it was projected that a notable CAGR will be attained by the market over the forecast period of 2018 to 2023. The valuation of the market was further stated to surpass its previous valuation with the revenue pool getting wider.
Telepresence robots market boasts a wide-scale adoption in the medical and healthcare industries, thereby standing out as one of the major drivers of the global market. Additionally, advancement in AI technology, increasing penetration of smartphones, and an increasing trend of bringing automation into different operations are also aiding the growth of the market. However, the high cost associated with the manufacturing of such robots and the high pricing linked with its maintenance and installation can dampen the growth of the global telepresence robots market.
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Competitive Landscape
The global telepresence robots market comprises a host of key players. This includes names like Xandex (a company that took over the production and sale of the Kubi from Revolve Robotics), Double Robotics, Endurance, SuperDroid Robots, AMY Robotics, Adept MobileRobots, Suitable Technologies, AXYN Robotique, MantaroBot, Giraff Technologies, VGo Communications (a subsidiary of Vecna), Orbis Robotics, Ava Robotics (a subsidiary of iRobot), Anybots Collaborate I/O, Inbot Technology Ltd., and FutureRobot.
Market Segmentation
The global telepresence robots market has been segmented in terms of type, end-user, and components.
By component, the market segments into speakers, camera, displays, sensors & control systems, and microphone.
By end-user, the market breaks down into healthcare, education, manufacturing, corporate, medical, and others.
By type, the market divides into mobile and stationery.
Regional Analysis
The global Telepresence Robots Market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
North America holds the leading spot in the global telepresence robots market with the maximum share percentage to its name. The region is one of the early adopters of the technology. The technology was adopted initially to serve applications like distant education, personal assistance, and home care. The US is at present contributing with the highest share to the regional market. The nation is expected to garner even more revenues in the near future due to the presence of a number of key players therein. Additionally, advanced infrastructure, high technical skills, and developed network technologies are some of the driving factors influencing a strong growth of the telepresence robots market in this region. Both Canada and Mexico are also projected to contribute at a high rate to the overall growth of the North American regional market during the forecast period.
The Asia Pacific region stands second in the global standings of the telepresence robots market and is expected to witness the highest growth in the coming years. Countries like China, South Korea, and Japan are contributing the maximum to the Asia Pacific regional market.
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Industry Buzz
June 2019, Innospark Ventures, an AI investment firm from Boston, made the announcement of spearheading the seed funding round for the leader in intelligent mobility robotics – Ava Robotics of Cambridge, a subsidiary company of iRobot. The latter has raised a striking USD 2.9 million and is aiming to commercialize a number of applications like lab automation and telepresence.
January 2019, OhmniLabs unveiled and launched its all new telepresence robot at the CES 2019, Las Vegas Event. The telepresence robot, named Ohmni Supercam, features the highest resolution camera in the entire market. This allows users the ability to check out content on printed documents and whiteboards in a clear manner, unlike other systems.
March 2019, an all-new partnership between a space robot startup company named GITAI and the Japanese Aerospace Exploration Agency (JAXA) is aimed at sending a telepresence robot into the space. The idea behind the plan is to make it easier and cost-effective for human to travel to space using robotics technology.
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