Telepresence Equipment Market Rising With Growth In New Technology Trends Research By 2025

 

The global telepresence equipment market size is anticipated to reach USD 2.45 Billion by 2025, at a registering a CAGR of 2.9% over the forecast period, according to a new report by Grand View Research, Inc. The need for the enterprises to reduce the cost in travelling for the employees is primary factor driving the market growth.

In contrast to its related industries like consumer electronics and semiconductors, the data center and communications infrastructure industry is expected to be more buoyant with continued strategic investments made to support the increased network traffic and data usage for remote working during the lockdown phase. From school closures necessitating students to use virtual offerings (Google Classroom ) to the governments using business analytics services (Power BI) for communicating virus updates, the demand for communication services and related infrastructure has witnessed an unprecedented rise amidst the global pandemic. Digital services including telemedicine are expected to remain popular even after the pandemic is contained, thereby ensuring strong growth in the communication infrastructure industry. The report will account for Covid19 as a key market contributor.

Increasing usage of telepresence equipment in various applications such as health care, education and government are the primary factors driving the market growth. Many government authorities are also planning to establish telepresence rooms as services as one the avenues for revenue. Telepresence video conferencing is being increasing adopted by many organizations as it offers cost effective solutions of high quality interaction. The Recent technological innovation in robotic telepresence video conferencing is also one of the major driving the market growth. The major advantage offered by telepresence equipment is as it offers Lifesize video conferencing which give the feel of real person existence. The various end points in telepresence equipment include telepresence camera, Microphone and display devices. The market for various telepresence end-points are also expected to grow significantly over the forecast period.

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The Room based telepresence system is highest revenue generating segment over the forecast period due to increased use of enterprises. Virtual presence of the individuals in the meeting will enhance experience thereby reducing the cost of travelling. But high cost of installation is one the major restraint for growth telepresence equipment market. Telepresence Equipment are being increasingly adopted in North America region which occupy significant market share over the forecast period.

Further key findings from the report suggest:

• The growing adoption of usage of telepresence equipment in large enterprises to reduce the cost of the traveling is the primary factor which drives the market.
• The Medium enterprise end-user segment is expected to portray high growth rate with a CAGR of 3.2% over the projected period.
• The North America Telepresence equipment regional market is expected to have significant growth over the forecast period, owing to the adoption of telepresence equipment in enterprises.
• The key players of the market include Array telepresence, Avaya Inc, Cisco Systems Inc., Huawei Technologies Co. Ltd, Polycom, Inc, Vidyo Inc and ZTE Corporation

Increasing usage of telepresence equipment in various applications such as healthcare, education, and government are the primary factors driving the market growth. Many government authorities are also planning to establish telepresence rooms as services as one of the avenues for revenue. Telepresence video conferencing is being increasingly adopted by many organizations as it offers cost-effective solutions of high-quality interaction.

The recent technological innovation in robotic telepresence video conferencing is also one of the major factors driving the growth of the telepresence equipment market. The major advantage offered by telepresence equipment is as it offers life-size video conferencing which gives the feel of real person existence. The various endpoints in telepresence equipment include telepresence cameras, microphones, and display devices. The market for different telepresence endpoints is also expected to grow significantly over the forecast period.

Leading players in the market include Array Telepresence, Avaya Inc, Cisco Systems Inc., Huawei Technologies Co. Ltd, Polycom, Inc, Vidyo Inc, and ZTE Corporation. Cisco Systems Inc. shares the majority of the market followed by Polycom in the telepresence equipment industry in 2016.

Many of the large corporations and various small and medium enterprises prefer installing telepresence video conferencing equipment as it offers a realistic way of interaction between the participants by avoiding the time-lag and disruption in video conferencing. Many of the telepresence equipment providers provide equipment, technology, and customer support which are already included in the price thereby enhancing the user experience.

Grand View Research has segmented the telepresence equipment market based on end-use, type, form-factor, vertical and regions:

Telepresence Equipment based on End-use Outlook (Revenue, USD Million;2014 - 2025)

·         Large Enterprise

·         Medium Enterprise

·         Small Enterprise

Telepresence Equipment based on Type Outlook (Revenue, USD Million;2014 - 2025)

·         Multi-Codec Telepresence

·         Personal Telepresence

·         Immersive Telepresence

·         Room based Telepresence

Telepresence Equipment Form Factor Outlook (Revenue, USD Million;2014 - 2025)

·         End-Points

o    Display

o  Standard Definition

o  High Definition

o    Camera

o    Microphone

·         Infrastructure

Telepresence Equipment based on Vertical Outlook (Revenue, USD Million;2014 - 2025)

·         Healthcare

·         Education

·         Pharmaceuticals

·         Government

·         Commercial

·         Scientific

·         Construction & Engineering

·         Entertainment

·         Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.