Europe 3D Telepresence Market Size

Europe 3D Telepresence Market Analysis

The Europen 3D telepresence market is expected to register a CAGR of 14.23% during the forecast period. Telepresence is a technology of video conferencing that allows a person to have face-to-face communication and notice non-verbal cues for enhanced communication.

• A growing number of companies are adopting cutting-edge communication methods, which has resulted in a growth in the market for 3D telepresence in Europe. Companies have switched from conventional video conferencing to immersive telepresence due to the rise in demand for distant cooperation, particularly during the COVID-19 pandemic, and technological advancements in the market.
• This technology has many advantages. It reduces the need for travel because meetings and presentations may be held in one's office. As a result, unwanted difficulties are decreased, and employee morale is raised. Additionally, it allows quicker and more individualized client service in delicate industries like banking and insurance.
• Rising travel costs, declining bandwidth rates, increasing penetration of internet connectivity, and hectic work schedules are some of the factors that augment the demand for 3D Telepresence technology and solutions across the region for video conferencing.
• Limited 3D telepresence commercialization due to its high costs and the low price and wide availability of VR products in the current market has made them a serious threat and may restrain industry expansion.
• The outbreak of COVID-19 has had a positive impact on the 3D telepresence market, as restrictions on the movement of people during the pandemic across the region resulted in many enterprises and corporates resorting to working remotely from home.