According to the report, the global telepresence robots market is expected to display a positive market trend over the forecast period of 2019-2028, exhibiting a CAGR of 16.33%.
The primary driving force behind this market's growth is the growing usage of telepresence robots for elderly care. Besides, cross-border businesses have augmented the demand for virtual interactions/communication, which is thereby driving market growth. Companies are also focusing on improving their operational efficiency, which is adding to the further growth of this market.
Telepresence robots find applications for telemedicine purposes, which is providing several opportunities for market growth. Also, the heavy investments for R&D in the field of robotics open up new avenues for growth.
However, telepresence robots offer low battery backup time and are highly prone to operational failures. These factors are hindering the growth of this market. Further, cost constraints also act as a growth impeding factor. Moreover, the chances of data breaches and concerns regarding data security are creating hurdles for market growth.
The global market encompasses the regions of North America, the Asia-pacific, the Middle East and Africa, Latin America, and Europe.
The APAC is expected to be the largest region in the global market by 2028, accounting for the largest market share. The availability of cheap labor, along with the technological advancements in the region, makes the Asia-Pacific a global manufacturing hub. Besides, the developing economies of the region, such as Thailand, India, Sri Lanka, Malaysia, and China, among others, have witnessed substantial FDIs for the development of their manufacturing sectors.
Also, the respective governments of these nations have charted out policies for boosting the domestic industry. The presence of countries like Japan, China, India, and South Korea make the APAC the fastest-growing region globally, considering the development of the robotic domain. The above-mentioned factors collectively drive the growth of the Asia-Pacific telepresence robots market.
The companies that have been mentioned in the telepresence robots market report are Anybots 2.0 Inc, Ohmnilabs Inc, Mantaro Networks Inc, Amy Robotics Co Ltd, VGo Communications Inc, Double Robotics Inc, InTouch Technologies Inc, Inbot Technology, Suitable Technologies Inc, Ava Robotics Inc, Xandex Inc, RBot, Axyn Robotique, TRC Robotics (TRC), and Superdroid Robots Inc.
China-based Inbot Technology has developed a telepresence robot series called PadBot. Besides Guangzhou, China, its global HQ, the company also has its headquarters in Texas, the United States. The company has a strong distributor network catering to the demands of the global market. These distributors are located across Thailand, Brazil, New Zealand, Canada, Singapore, Turkey, Indonesia, France, Australia, Russia, and the US.
Key Topics Covered
1. Global Telepresence Robots Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Evolution & Transition of Telepresence Robots
2.3. Key Insights
2.3.1. Emergence of Telepresence Robots With Lateral Stability Control and Power Drive
2.3.2. Increased Demand in Homecare & Rehabilitation Centers
2.3.3. Technological Advancements
2.4. Porter's Five Force Analysis
2.4.1. Threat of New Entrants
2.4.2. Threat of Substitute
2.4.3. Bargaining Power of Buyers
2.4.4. Bargaining Power of Suppliers
2.4.5. Threat of Competitive Rivalry
2.5. Product Analysis
2.6. Pricing Analysis
2.7. Market Attractiveness Index
2.8. Vendor Scorecard
2.9. Industry Components
2.9.1. Component Manufacturer
2.9.2. Software & Application Developers
2.9.3. Component Distributors and Reseller
2.10. Market Drivers
2.10.1. Growing Use of Telepresence Robots for Elderly Care
2.10.2. Cross-Border Businesses Augmenting the Demand for Virtual Interactions/Communications
2.10.3. Enterprises Looking to Increase Their Operational Efficiency
2.11. Market Restraints
2.11.1. Cost Constraints
2.11.2. High Proneness to Operational Failures
2.11.3. Low Battery Backup Time
2.12. Market Opportunities
2.12.1. Applications in Telemedicine
2.12.2. Heavy Investments and Research & Development in the Field of Robotics
2.13. Market Challenges
2.13.1. Data Security and Breaches
3. Global Telepresence Robots Market Outlook - by Product Type
3.1.1. Remotely Operated
4. Global Telepresence Robots Market Outlook - by Components
220.127.116.11. Power Supply
18.104.22.168. Sensors & Control Unit
5. Global Telepresence Robots Industry Outlook - by Application
5.6. Other Applications
6. Global Telepresence Robots Industry - Regional Outlook
6.1. North America
6.4. Latin America
6.5. Middle East & Africa
7. Competitive Landscape
7.1. Ava Robotics Inc.
7.2. Double Robotics Inc.
7.3. TRC Robotics (TRC)
7.5. Ohmnilabs Inc.
7.6. Anybots 2.0 Inc.
7.7. Amy Robotics Co. Ltd.
7.8. Inbot Technology
7.9. Axyn Robotique
7.10. Mantaro Networks Inc.
7.11. Xandex Inc.
7.12. Suitable Technologies Inc.
7.13. Intouch Technologies Inc.
7.14. VGO Communications Inc.
7.15. Superdroid Robots Inc.
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