3D Telepresence Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The 3D Telepresence market was valued at USD 1.54 billion in 2020 and is expected to reach USD 4.5 billion by 2026 and work at a CAGR of 19.6% over the forecast period (2021-2026). The growing adoption of advanced technologies, such as AR and MR, is expected to pave the path for a new collaborative platform called 3D telepresence.

• Audio and visual applications like Google Hangouts, Facetime, Skype, and other video conferencing platforms for office are co-existing today for use across enterprises to enable remote communication.
• Although the quality of experience, with regard to audio and visual transmission, has significantly improved over the years, the 2D video technology has several inherent drawbacks, like loss of non-verbal cues, such as eye contact and gestures, which cannot be mitigated easily. Some of these issues are addressed by 3D telepresence, which provides rendering and streaming of 3D video data between two or more parties, and this boosts the adoption of 3D telepresence, globally.
• While there are smart conference rooms that are being developed by companies like Cisco (Spark system) which is a bundle of cameras, 4K screen speakers and supporting devices, technology advancements are resulting in more life-like experiences by technologies like telepresence.
• Companies like Cisco, Microsoft, Teliris, Huwaei, Sony, among others are the early entrants in the telepresence space. Since the inception, few challenges like interoperability between telepresence systems of different vendors and compatibility of the technology with networks offered by different telecom were achieved.
• The technology has been showcased in several entertainment demonstrations, like Musion 3D. However, till date, the practical applications have been limited by the high cost of such 3D systems, as compared to the 2D telepresence/video conferencing.
• By taking advantage of recent advances in augmented reality (AR), coupled with 3D, such as Atheer AiR Glasses, Google Glass, and Microsoft HoloLens, the remote consumer’s digital representations could be rendered over the real world, creating a mixed-reality experience.
• Following the pandemic, trends such as remote working and need for immersive experiences are expected to gain momentum. In such regard, 3D telepresence systems play a key role in ensuring the workflow.

Scope of the Report

3D TelePresence achieves true depth without the usage of 3D glasses. A person from another part of the world can appear life-size within the room for live two-way communication while making eye contact. The Scope of the market includes Solution Type Hardware and Software, Appplications including Education, Advertising, Conferencing, Customer Service among others.

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Key Market Trends

Enhanced User Experience expected to Drive the Growth

• The tele-immersion technology, coupled with 3D technology, provides an increased level of presence of the remote users, whether it is bundled with virtual or augmented reality (AR). Aside from enhancing the user experience, in terms of communication, which is currently performed with 2D video conferencing, there is a potential use of this technology in several other areas that would reduce the need for travel.
• Moreover, applications, such as in remote collaboration, where multi-disciplinary teams have to work closely with 3D data or models, like in design, manufacturing, medicine, physical sciences, architecture, astronomy, digital humanities, and education, among various other applications, are expected to drive the demand for these solutions.
• Further, initiatives aimed at pushing the deployment of common video conferencing to achieve real-world experience, are driving the market growth. For instance, in July 2020, researchers from Facebook Reality Labs announced the development of a virtual telepresence system that utilizes photorealistic avatars aimed at capturing and conveying the gaze and eye contact signals of social interactions in the real-world.
• Statistical forecasts suggest that an organization would be able to boost its productivity by up to 40% due to quick decision making, saving travel cost and travel time because of the 3D telepresence systems.

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