Growing use of telepresence robots in the healthcare sector for remote consultations with physicians is one of the major factors expected to drive market revenue growth.
Growing use of telepresence robots in the healthcare sector for remote consultations with physicians is one of the major factors expected to drive market revenue growth
According to Emergen Research, the global telepresence robot market size was USD 218.4 million in 2020 and is expected to reach USD 684.4 million in 2028 and register a revenue CAGR of 15.3% during the forecast period, 2021-2028.
Market Dynamics:
Revenue growth of the global telepresence robot market is majorly attributed to factors such as rising geriatric population worldwide, growing trends of telehealth and telemedicine, increasing use of telepresence robots in the healthcare sector for remote consultations with the doctors or physicians, and growing need for remote patient health monitoring, especially in home healthcare settings. Increasing applications of telepresence robots in the enterprise sector, rising need for enhanced employee efficiency and reduction in operational costs, and increasing demand for telepresence robots in educational institutes are among the other factors expected to drive the global telepresence robot market revenue growth to a significant extent.
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Telepresence robots are remote-controlled devices with wireless internet connectivity. These robots typically use a tablet to provide audio and video capabilities. Telepresence robots perform a wide range of tasks, including remote patient monitoring, remote doctor visits, delivery of food and medicines, virtual business meetings, and face-to-face interaction between teachers and students during online classes. Rising penetration of 5G Internet services, growing trend of online education, and integration of cutting-edge technologies and features in these robots are expected to further boost revenue growth of the global telepresence robot market.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Mobile Segment Accounted for Largest Revenue Share in 2020:
The mobile segment dominated other segments in terms of revenue share in the global market in 2020. Mobile telepresence robots can be operated remotely or from distant locations, and these robots are mainly deployed for promoting social interaction. Increasing applications of mobile telepresence robots in healthcare environments, home care settings, and office environments, and continuous technological advances in the field of mobile robotics are among the key factors driving the revenue growth of this segment.
Healthcare Segment to Account for Fastest Revenue CAGR:
The healthcare segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Increasing demand for telepresence robots in the healthcare industry for important applications such as remote consultations with doctors and remote patient monitoring, their growing use in hospitals for patient data monitoring, patient bedside care, and lab automation assistance, and the growing trend of telemedicine are major factors supporting the revenue growth of this segment.
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North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America telepresence robot market accounted for the largest revenue share in the global market in 2020. Rising trend of telemedicine, increasing use of telepresence robots in the healthcare industry for remote patient health monitoring and online doctor consultations, growing demand for these robots in the enterprise sector for enhanced employee efficiency, and increasing availability of telepresence robots with cutting-edge features and technologies are key factors contributing to the regional market revenue growth.
Major Companies in the Global Telepresence Robot Market Include:
- Mantaro Networks Inc.
- AMY Robotics
- Double Robotics
- VGo Communications Inc.
- SuperDroid Robots
- Inbot Technology Ltd.
- Qihan Technology Co. Ltd.
- Ava Robotics Inc.
- InTouch Technologies Inc.
- Wicron
For the purpose of this report, Emergen Research has segmented the global telepresence robot market based on component, product type, application, and region:
Component Outlook (Revenue, USD Million; 2018–2028)
- Display
- Camera
- Speaker
- Control System & Sensors
- Power Source
- Others
Product Type Outlook (Revenue, USD Million; 2018–2028)
- Mobile
- Stationary
Application Outlook (Revenue, USD Million; 2018–2028)
- Healthcare
- Education
- Homecare
- Enterprises
- Others
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Region Outlook (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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