The global telepresence equipment market size is expected to reach USD 2.16 Billion by 2028 according to a new study by Polaris Market Research. The report “Telepresence Equipment Market Share, Size, Trends, Industry Analysis Report, By Type (Immersive, Personal, Room based, Multi-Codec, Robotic, Others); By Component (Hardware, Software, Services); By Organization Size (Large Enterprises, Small and Medium-Sized Businesses); By End-Use; By Regions; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A rise in investment by small and medium-sized businesses and technological advancement in the telecommunication industry is anticipated to boost the industry's growth over the projected period. The growing trend of remote work culture, especially during the pandemic, is expected to raise the demand for investment during the forecast period.
The outbreak of COVID-19 has necessitated the use of telepresence equipment across healthcare facilities to allow remote observation of patients and offer remote therapy while reducing the risk of infection.
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Based on type, the industry has been segmented into immersive, personal, room-based, multi-codec, robotic, and others. The room-based segment accounted for a major industry share due to a greater need for remote collaboration and real-time communication.
However, the demand for robotic is expected to increase during the forecast period. Robotic have been used during the pandemic for improved patient care, consulting with specialist doctors, and connecting patients to the outside world.
The component segment has been segmented into software, hardware, and services. In 2020, the hardware segment held the highest industry share. There has been an increasing demand for high-quality hardware devices such as cameras, display devices, and microphones to enable superior audio and video communication quality. This equipment transmits premium quality video owing to the adoption of advanced hardware devices.
North America dominated the global telepresence equipment industry in 2020 and is expected to maintain its dominance over the forecast period. Rising applications in retail, healthcare, and education in the North American region are a significant driver for industry growth.
Major market participants include Huawei Technologies Co. Ltd., Polycom, Inc., ZTE Corporation, Vidyo, Inc., Cisco Systems, Inc., Array Telepresence, Digital Video Enterprises, HaiVision, Avaya, Inc., and Videonations Limited.
Market players are collaborating with each other for research and development, strengthening market presence, and technological innovation. The greater need to cater to growing customer requirements has encouraged market participants to leverage new technologies to develop high-quality products.
Polaris Market Research has segmented the telepresence equipment market report on the basis of type, component, organization size, end-use, and region:
Telepresence Equipment Type Outlook (Revenue, USD Billion, 2016 - 2028)
Telepresence Equipment Component Outlook (Revenue, USD Billion, 2016 - 2028)
Telepresence Equipment Organization Size Outlook (Revenue, USD Billion, 2016 - 2028)
Telepresence Equipment End-Use Outlook (Revenue, USD Billion, 2016 - 2028)
Telepresence Equipment Regional Outlook (Revenue, USD Billion, 2016 - 2028)