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Telepresence Robots Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4771739
UP TO OFF until Sep 30th 2023

Quick Summary:

The ever-evolving realm of the telepresence robots market finds itself on a trajectory of significant growth across multiple sectors, namely education and home healthcare. As the market for consumer and professional telepresence robots garners increasing interest, the scope for market expansion broadens.

Telepresence robots, with their capacity for creating a virtual appearance, have found a strong foothold in the healthcare industry, enabling clinicians to serve patients in diverse locations. Simultaneously, they empower business leaders, allowing them to be present in different activities, meetings, and monitor their teams remotely. Furthermore, stationary telepresence robots, with their consistent network connectivity, are creating avenues for niche applications, particularly in remote health monitoring. R&D investment to offer advanced medical telepresence robots is on the rise amid this escalating demand.

Also facilitating this market’s traction are the advancements in communication capabilities, including 4G and 5G tech, and the increasing acceptance of robotics in healthcare settings. The increasing concentration of companies offering advanced goods and services and the rising demand for innovative solutions have placed the healthcare telepresence robotics industry in a buoyant position.

The telepresence robots market is expected to grow at a CAGR of 11.53% over the forecast period. The rapidly growing demand for consumer and professional telepresence robots in different areas, such as education, home healthcare, and others is likely to fuel market expansion.

Key Highlights

  • Telepresence robots are anticipated to find a home in healthcare, business, and educational institutions throughout the world. The capacity of telepresence robots to create a virtual appearance in the healthcare industry allows clinicians to assist patients located in various areas. Similarly, in the professional sector, business leaders may access different activities, monitor their teams, and attend meetings and conferences using a telepresence robot installed in their workplace.
  • Stationary telepresence robots provide opportunities for specific niche applications that benefit from the advantage they offer over mobile robots, with the significant advantage being the consistency in network connectivity (WiFi, etc.) without interruption. Such technology platforms are paving the way for applications, such as remote health monitoring, to be possible. The technology is expected to gain significant traction as the number of people aged more than 65 grows across the world, particularly in countries, such as India and Japan.
  • The increasing use of robotics in healthcare settings and the advancement of communication capabilities, including 4G and 5G, are drawing additional expenditures in the business. The swiftly evolving technology and variable demand for products and services are prompting market players to spend more on study and innovation operations in order to create novel solutions. Furthermore, the growing number of companies offering cutting-edge goods and services with upgraded capabilities is moving the industry for healthcare telepresence robotics forward.
  • The outbreak of the COVID-19 virus also raised the demand for telepresence robots, notably in healthcare facilities. Major corporations are raising their R&D investment in order to meet rising demand and ensure the introduction of telepresence robots with advanced medical capabilities. Furthermore, increasing developments by technology companies are expected to contribute to market growth. For instance, in May 2021, the Integrated Technologies Engineering Group at the University of Malaga created a telepresence robot enabling COVID-19 patients to connect with their dear ones.

Telepresence Robots Market Trends

Healthcare Industry to Drive the Market Growth

  • Telemedicine is a rapidly growing technological advancement in the healthcare industry, which involves remote patient monitoring by using digital technologies, such as video conferencing tools while fostering remote interaction between patients and healthcare providers. The increasing adoption and popularity of telepresence robots in the healthcare industry are further aiding in the growth of telemedicine.
  • Telepresence robotics aids in the remote monitoring of patients in rural hospital settings where a medical specialist is physically unavailable, and the robot can be deployed to connect the patient with the healthcare provider. Also, a nurse can remotely connect and monitor the patient's recovery in the home. Such technology adoption has made quality health support available to remote locations. The rapid growth and advancement in communications technology have enabled this further, resulting in a complete ecosystem aiding the growth.
  • According to Robohub, a telepresence medical robot is a customizable robot to monitor changes in a patient's medical bedside data and behavior and immediately sends alerts to nurses indicating the critical changes in the patient's condition and acts without delay. Pepper, for instance, deployed robotics during the pandemic to allow patients in the intensive care ward to communicate with their families, who were not allowed to visit. The robot could stand next to the patient's bed and use the tablet on its chest to deliver a video conference.
  • Major key drivers of this segment's growth include the rise in demand for robots in the medical sector for critical tasks, such as online patient surveillance and physician consultation, as well as their expanding use in health facilities for tasks like bedside nursing, patient data collection, and lab automated support. Furthermore, increasing trends for telemedicine are also expected to create opportunities for market growth.
  • Stimulation of government programs and funding for study and innovation in artificial learning and automation is fueling innovations and drawing new competitors in numerous economies. The increased number of industry participants implementing cutting-edge technologies, in addition to a higher concentration on R&D in reaction to shifting demands, resulted in the development of novel alternatives, which has influenced market expansion further.

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 presence of the defined regulations, higher purchasing power, and the readiness of the end-user industry to upgrade 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 students' learning experience. This has also helped in making the regional market enjoy the dominant share in this market.
  • Telepresence robots are increasingly used in healthcare for remote patient medical monitoring and online medical consultations. Furthermore, the growing senior population will likely support the demand for healthcare telepresence robots, leading to the industry's expansion in North America. As per the Population Reference Bureau, the number of Americans aged 65 and older is anticipated to more than double from 52 million in 2018 to 95 million in 2060.
  • The region's vital supporting infrastructures, including telecommunication and power, will likely drive growth. Besides that, the rising penetration of telepresence robotics in various business applications is expected to boost the worldwide demand for telepresence robots.
  • Increasing investments in product development by players operating in the region are expected to drive market growth in the region. For instance, in April 2022, Shortcut Robotics, located near Los Angeles, launched beta testing of its first telepresence robots. The beta testing would be performed in two rounds to allow for updates in each phase.

Telepresence Robots Market Competitor Analysis

The telepresence robots market is moderately fragmented and consists of several players. Several companies are increasing their market presence by introducing new products or by entering into strategic mergers and acquisitions. Some of the players operating in the market include Ava Robotics Inc., Blue Ocean Robotics, AMY Robotics, VGo Communications Inc., and OhmniLabs, Inc.

April 2022, OhmniLabs announced a collaboration with Lovell Government Services, an SDVOSB, to integrate OhmniClean and Ohmni Telepresence Robots into key government contracting vehicles. This advancement is significant because it streamlines the purchase experience for government clients while also assisting government organizations in meeting their SDVOSB procurement targets.

March 2022 - Dallas Cowboys introduced Cowboys Starbot, a revolutionary telepresence robot. Dallas Cowboys players, cheerleaders, alumni, administrators, and others will be able to visit patients virtually in an inventive and secure method, owing to the robot. The robot offers a concrete framework for virtual interactions by integrating video conferencing technologies into a remote-controlled platform.

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  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 User Controlled Remote Presence Capabilities Aids Market Growth
4.4 Market Restraints
4.4.1 Higher Costs of Maintenance of Telepresence Robots
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Industry Ecosystem analysis
4.7 Impact of COVID-19 on the Telepresence industry
5.1 By Product Type
5.1.1 Stationary
5.1.2 Mobile
5.2 By End User Application
5.2.1 Education
5.2.2 Healthcare
5.2.3 Business
5.2.4 Security
5.2.5 Other End user Applications
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Rest of the World
6.1 Company Profiles*
6.1.1 Ava Robotics Inc.
6.1.2 Blue Ocean Robotics
6.1.3 AMY Robotics
6.1.4 VGo Communications Inc.
6.1.5 OhmniLabs Inc.
6.1.6 Inbot Technology Ltd
6.1.7 Double Robotics Inc.
6.1.8 Mantaro Product Development Services Inc.
6.1.9 InTouch Technologies Inc. (Teladoc Health)
6.1.10 Beam Telepresence (Blue Ocean Robotics)
6.1.11 Wicron Company
6.1.12 Endurance Robots

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Ava Robotics Inc.
  • Blue Ocean Robotics
  • AMY Robotics
  • VGo Communications Inc.
  • OhmniLabs Inc.
  • Inbot Technology Ltd
  • Double Robotics Inc.
  • Mantaro Product Development Services Inc.
  • InTouch Technologies Inc. (Teladoc Health)
  • Beam Telepresence ( Blue Ocean Robotics)
  • Wicron Company
  • Endurance Robots