According to the latest report by IMARC Group, title “Telepresence Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global telepresence equipment market size reached US$ 2.28 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.95 Billion by 2027, exhibiting a CAGR of 4.10% during 2022-2027.
Telepresence Equipment Industry Outlook:
Telepresence, also commonly known as virtual presence, refers to a digital video teleconferencing technology that provides a virtual framework for collaboration, realistic exchanges, and communication amongst masses from remote or distant locations. Some commonly used telepresence equipment includes microphones, speakers, displays, cameras, and controllers that help control machinery and share data-related information. They also provide enhanced productivity, effective communication, high-definition (HD) resolution streaming, better employee interactions, high-quality audio-video output, standard-definition (SD) resolution streaming, and real-time presentation experience. As a result, telepresence equipment is widely adopted in the education, manufacturing, engineering, construction, pharmaceuticals, and healthcare sectors.
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The market is primarily driven by the rising demand for telepresence equipment across various industrial verticals, such as small and medium-sized enterprises (SMEs), government, entertainment, and hospitality industries. In addition, the easy availability of multi-codec, room-based, immersive, and personal telepresence equipment and high-speed internet connectivity is contributing to the market growth. Moreover, the introduction of machine learning (ML) and artificial intelligence (AI) technologies and the escalating demand for virtual meetings due to the emerging work-from-home (WFH) culture represent other major growth-inducing factors.
Besides this, the increasing applications of telepresence equipment in the healthcare sector to enable physicians and medical practitioners to offer consultations, virtual assistance, and remote visitations for healthcare check-ups are providing a positive thrust to the market growth. Furthermore, the rising digitization, the growing popularity of numerous electronic devices, and the integration of robotic telepresence equipment for mitigating communication barriers and easier experimental learning are other factors creating a positive market outlook.
List of Key Companies Covered in this Market Report:
- Avaya Inc.
- Cisco Systems Inc.
- Microsoft Corporation
- Plantronics Inc.
- Sony Corporation
- HP Inc.
- Huawei Technologies Co. Ltd.
- Vidyo Inc. (Enghouse Systems Limited)
- ZTE Corporation.
Key Market Segmentation:
The report has segmented the market on the basis of region, type, form factor, enterprise size and industry vertical.
Breakup by type:
- Multi-Codec Telepresence
- Personal Telepresence
- Immersive Telepresence
- Room-based Telepresence
Breakup by Form Factor:
Breakup by Enterprise Size:
- Large Enterprise
- Medium Enterprise
- Small Enterprise
Breakup by Industry Vertical:
- Construction and Engineering
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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