ICT-IOT

Telepresence Robot Market is expected to reach USD 411.0 million by 2030

Mar 2024

ICT-IOT

As per the report published by Kings Research, the global Telepresence Robot Market was valued at USD 92.8 million in 2022 and is projected to reach USD 411.0 million by 2030, growing at a CAGR of 20.49% from 2023 to 2030.

Telepresence robots with a stationary design are ideal for specific applications that require reliable network connectivity without interruption. These types of robots can fill niches in the market that benefit from a consistent connectivity environment, such as remote health monitoring. As the population aged more than 65 grows across the world, countries like India and Japan are expected to adopt this technology to meet the increasing demand for remote healthcare services.

For instance, a stationary telepresence robot with built-in sensors and cameras can provide round-the-clock remote monitoring of a patient's vital signs and physical well-being, thereby enabling healthcare professionals to detect potential health issues early and intervene promptly.

Key Insights

  • Based on application, the enterprise segment is likely to record the highest CAGR of 19.68% from 2023 to 2030
  • Based on component, the head segment generated the highest revenue of USD 75.3 million in 2022
  • Based on type, the mobile segment generated the highest revenue of USD 77.9 million in 2022
  • On the basis of region, the North America region is foreseen to register the fastest growth at a CAGR of 20.49% from 2023 to 2030

Revolutionizing the Game: Dallas Cowboys Launch 'Cowboys Starbot' - A Telepresence Robot for Secure Virtual Visitation in Healthcare

March 2022: The Dallas Cowboys organization unveiled a new telepresence robot called the Cowboys Starbot. The robot serves as a secure and innovative virtual visitation method, enabling players, cheerleaders, alumni, administrators, and other team members to visit patients remotely. By incorporating video conferencing technology into a remote-controlled platform, the robot provides a reliable framework for virtual interactions.

Increasing Demand for Advanced Robots in Critical Medical Sector to Propel Market Growth

The telepresence robot market is experiencing notable growth due to several major drivers, including increasing demand for advanced robots in critical medical sector tasks such as online patient surveillance and physician consultation, as well as in healthcare facilities for jobs such as bedside nursing, patient data collection, and lab automation support. The utilization of telemedicine is also expected to increase significantly in the future, resulting in further opportunities for market growth.

For instance, during the pandemic, Pepper robots were deployed to support patients in the intensive care ward by connecting them with their families via video conference, using the tablet embedded in its chest.

North America to Dominate the Market as Telepresence Robots Revolutionize Remote Participation in Healthcare, Education, and Business

North America generated the highest revenue of USD 37.3 million in 2022. In North America specifically, telepresence robots are used in a variety of settings, including hospitals, schools, and businesses, to enable remote participation in meetings, consultations, and other activities. The region has a large and diverse economy with many companies and institutions that can benefit from the use of telepresence robots. Additionally, North America is home to many leading robotics and technology companies that are developing new and innovative telepresence solutions.

Market Players Emphasizing Product Innovation to Drive Market Development

The market is fragmented with key players such as Double Robotics, Inc., VGo Communications, Inc., Blue Ocean Robotics., Mantaro Networks Inc., Xandex Inc., Vecna Technologies., AMY ROBOTICS, Mantaro Networks Inc., and Messe Frankfurt (HK) Limited, among others. Companies are employing a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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