Telepresence Robots Market - Growth, Trends, and Forecasts (2020 - 2025)

The Telepresence Robots Market is segmented by Product Type (Stationary, Mobile), End-user Industry (Education, Healthcare, Business), and Geography.

Market Snapshot

Study Period:

2019-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

11.53 %

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Market Overview

The telepresence robots market was valued at USD 165.4 million in 2019 and is expected to reach a value of USD 184.47 million by 2025, at a CAGR of 11.53% over the forecast period (2020 - 2025). Telepresence robots are remotely monitored autonomous robots equipped with a smartphone or motorized desktop stands that are connected to a camera or a monitor. The telepresence robot is assistive technology.

  • Healthcare, business, and educational institutes are expected to be the potential markets of telepresence robots worldwide. In the healthcare sector, the capability of telepresence robots of providing a virtual remote presence enables the doctors to assist their patients located at a different location without physically going to that place. Similarly, in the corporate sector, a business owner can access his/her operations, can monitor their teams, or attend conferences and meetings by operating a telepresence robot placed in that office premises.
  • Companies are developing robots to replace astronauts with these so that they can work for a long time while being controlled from the earth while in low earth orbit space stations to reduce the burden on astronauts, shorten the time it takes to perform work in space, and minimize costs. Companies, such as GITAI are developing tech to put humanoid telepresence robots in space to take over astronauts.
  • Further, vendors in the market have made significant innovations to make the technology available for business, commercial, and personal/household applications. Some of the vendors have equipped these robots with a smartphone, tablet, computer, proprietary, or other video conferencing platforms to be used as assistive technology. For instance, the telepresence robot of Ava Robotics, a spin-off from service robot maker, iRobot, is equipped with Cisco’s teleconferencing solution.
  • Double Robotics created an iPad-based robotic telepresence platform. Another vendor, Padbot’s Telepresence Robot, is designed for iOS and Android platform phones and tablets. This way, vendors are able to offer cost-effective solutions and are likely to benefit from strong smartphone penetration.
  • In addition, the rising research and development expenditure coupled with new players entering the market to develop and introduce advanced products is expected to boost the demand for these robots. However, the high cost of maintenance of telepresence robots is expected to hamper the market adoption of telepresence robots in the coming years.
  • With the recent outbreak of COVID 19, these robots play a crucial role in enabling a form of telemedicine that would keep humans out of areas of contagion. The telepresence robot has begun appearing in nursing homes to help family members connect with otherwise isolated elders in the recent pandemic situation.

Scope of the Report

A telepresence robot is a device that helps the virtual presence of a human at work. It comprises of a wheel-based moving stand, tablets, and other multimedia facilities to offer smooth communication between people at remote locations. The robots use high-speed internet connectivity for multimedia applications. The report covers various technology used across end-user industries in different geographies.The study will also cover the impact of COVID19 across the telepresence robots market.

By Product Type
Stationary
Mobile
By End-user Industry
Education
Healthcare
Business
Security
Other End-user Industries
Geography
North America
Europe
Asia-Pacific
Rest of the World

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Key Market Trends

User Controlled Remote Presence Capabilities to Drive the Market Growth

  • One of the significant aspects that have been a key decisive factor for most consumers in the market is the flexibility of the telepresence devices. Either it is in the field of education in schools or universities, or medical, business, or security, the telepresence robots allow the user to go live according to her/his convenience.
  • Telepresence robots are equipped with sensors, accelerators, video conferencing technologies, etc., and can be remotely monitored. The market has seen an influx of new vendors (mostly startups), which has shaped the market altogether.The Double Robotics introduced the Double 3 that has an array of 3D sensors and is designed to assist remote workers.
  • It also adds to the cost factor where business persons can collaborate with their peers without the need for traveling. Engineers, for instance, can guide the support persons and help them through the maintenance process for off-site and remotely located centers.
  • Moreover, this feature also makes it prominent for applications in medical support where critical medical actions can be carried out in case of emergencies. As the number of people aged more than 65 grows across the world, particularly in countries, such as India and Japan, many will look to stay at home, rather than in an assisted living or nursing homes, and telepresence robots can be an important factor in helping them to achieve that independence.

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North America is Expected to Hold a Major Market Share

  • North America is estimated to have a significant demand for such robots, considering the strong network infrastructure and acceptance of new technologies. The region is also expected to be a key contributor to the technology, as it houses prominent telepresence robot vendors.
  • The telepresence robots meant for commercial applications are currently priced premium, in the region, thus requiring high initial investments. The presence of critical supporting infrastructures, such as communication and power, makes it a more favorable market for the vendors to pitch in the products in the regional market.
  • The presence of the defined regulations, higher purchasing power, and the readiness of the end-user industry for upgrading the experience have been driving factors in the region.Furthermore, educational institutions, such as schools in the region, are promptly using technological products to enhance and improve the learning experience of the students. This has also helped in making the regional market enjoy the dominant share in this market.
  • The region has witnessed significant competition for telepresence robots due to the cheaper rate of the robot. For instance, Beam, which is recently acquired by blue ocean caters two products, smaller robot that is priced around USD 2,000-USD 4,000 for low-end consumers, and a larger Beam Pro that sells for around USD 15,000 for high-end devices.

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Competitive Landscape

The telepresence robots market is highly competitive owing to the presence of multiple players in the market. The market appears to be moderately concentrated with multiple companies trying to increase their market presence by introducing new products or by entering into strategic mergers and acquisitions. Some of the major players in the market are Ava Robotics Inc., Double Robotics Inc., AMY Robotics, among others.

  • August 2019 - Beam, the remote-controlled telepresence robot, was acquired by Blue Ocean Robotics of Denmark. According to Blue Ocean Robotics, they have only brought the IP, staff who work on Beam robots, hardware inventory, and other related assets are under their control.
  • January 2019 - OhmniLabs launched its latest telepresence robot, Ohmni Supercam. The telepresence robot features the highest resolution camera available in a telepresence robot, giving users the ability to see content on whiteboards and printed documents more clearly than other systems.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 User Controlled Remote Presence Capabilities Aids Market Growth

    3. 4.3 Market Restraints

      1. 4.3.1 Higher Costs of Maintenance of Telepresence Robots

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

    5. 4.5 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Stationary

      2. 5.1.2 Mobile

    2. 5.2 By End-user Industry

      1. 5.2.1 Education

      2. 5.2.2 Healthcare

      3. 5.2.3 Business

      4. 5.2.4 Security

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Ava Robotics Inc.

      2. 6.1.2 Double Robotics Inc.

      3. 6.1.3 AMY Robotics

      4. 6.1.4 Mantaro Product Development Services Inc.

      5. 6.1.5 Inbot Technology Ltd

      6. 6.1.6 InTouch Technologies Inc. (Teladoc Health)

      7. 6.1.7 Beam Telepresence (Blue Ocean Robotics)

      8. 6.1.8 VGo Communications Inc. (Vecna Inc.)

      9. 6.1.9 Wicron Company

      10. 6.1.10 Endurance Robots

  7. *List Not Exhaustive
  8. 7. INVESTMENT ANALYSIS

  9. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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