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

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.