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Telepresence market to exhibit high growth between 2016 and 2022
The global telepresence market is estimated to reach USD 2.63 billion by 2022, at a CAGR of 19.6% between 2016 and 2022. A key driving factor for the growth of the market is the growing demand of robotic telepresence in the healthcare industry. Patients can consult and share their health issues with doctors remotely, in real-time irrespective of their locations. Many small and large businesses prefer these systems as they help save international travel costs and time. These factors are driving the growth of the telepresence market.
Telepresence systems are used widely in the healthcare industry; they are referred to as telemedicine systems. These systems save the time and cost of patients in remote locations as they can consult specialist doctors located anywhere across the globe. These are also used in providing remote medical education through HD audiovisual recording and live broadcasting; this could include training for clinical pathology, surgery, and related subjects as well as other academic communications. Cisco’s telepresence solutions have been helping various healthcare organizations manage the workflow of doctors and surgeons. Huawei Technologies Co., Ltd. (China) develops telemedicine solutions for the healthcare sector. The other companies providing these solutions are InTouch Health (U.S.) and Avizia Inc. (U.S.) among others.
APAC to be the fastest-growing market for telepresence systems
The market in APAC is expected to grow at the highest CAGR between 2016 and 2022 owing to the increasing industrialization and urbanization in this region. The emergence of new technologies in Asia-pacific has increased the demand for innovative and user-friendly communication. Telepresence is one such technology that helps individuals interact, share content, and record high-quality videos in real time. Japan, China, India, and South Korea hold a significant share of thr telepresence market in the APAC region.
Breakdown of the profile of primary participants:
- By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
- By Designation: C-Level - 35%, Directors - 25%, and Others - 40%
- By Region: North America - 45%, APAC - 30%, Europe - 20%, and RoW - 5%
The major key players offering various products in the telepresence market in this region includes Cisco Systems, Inc. (U.S.), Polycom Inc. (U.S.), Avaya Inc. (U.S.), ZTE Corporation (U.S.), Huawei Technologies Co., Inc. (China), LifeSize Inc. (U.S.), VGo Communications, Inc. (U.K.), Vidyo Inc. (U.S.), Teliris Inc. (U.K.), and Array Telepresence (U.S.).
Reasons To Buy the Report:
- This report includes the market statistics pertaining to component & service, system type, industry, and geography.
- The Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the telepresence market.
- Major drivers, restraints, challenges, and opportunities for the telepresence market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for markets based on component & service, system type, industry, and geography have been conducted to give an overall view of the market.
- A detailed competitive landscape is given that includes key players, revenue of key players, and strategic developments among others.