According to the new market research report "Telepresence Robot Market by Component (Head Camera, Display, Speaker, and Microphone) and Body (Power Source and Sensor & Control system)), Type, Application (Education, Healthcare, Enterprise, and Homecare), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the telepresence robot market is estimated to grow from USD 145.8 million in 2018 to USD 312.6 million by 2023, at a CAGR of 16.5%.

The market is mainly driven by factors such as enhanced operational efficiency in enterprises due to the virtual meeting, high demand from the healthcare industry, and low cost due to the availability of supporting devices.

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Telepresence Robot Market for mobile telepresence robots to grow at higher CAGR during forecast period

The market for mobile telepresence robots is expected to grow at a higher CAGR from 2018 to 2023. The application of stationary telepresence is limited only to particular areas as these robots are used mainly for training purposes in almost every vertical. The mobility is already a major feature of mobile telepresence, and because of its added advantages, these telepresence robots can also find applications in several new verticals, such as defence, surveillance, and security.

Enterprise application held largest share of telepresence robot market in 2017

The enterprise segment accounted for the largest share of the overall telepresence robot market, based on application, in 2017. The large share of this application attributes to the growing use of telepresence robots for interactive and productive business meetings in enterprises with separated participants from different locations. The telepresence robots are the best fit for virtual presence in enterprises.

Americas is a major consumer of telepresence robots

The Americas accounted for a major share of the overall telepresence robot market in 2017. The Americas is the early adopter of all service robots for all major applications such as public relations, personal assistance and caregiving, home care, enterprise, and education, which is resulting in the maximum demand for robots from this region.

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The report profiles the most promising players in the market. The market is highly dynamic because of the presence of a significant number of big and small players operating in it. Key players in the market are Double Robotics (US), Inbot Technology (China), Suitable Technologies (US), Mantaro Networks (US), VGo Communications (UK), InTouch Technologies (US), Qihan Technology (China), Amy Robotics (China), Anybots (US), SuperDroid Robots (US), Ava Robotics (US), Camanio Care (Sweden), Wicron (Russia), Xandex (US), Rbot (Russia), AXYN Robotique (France), OhmniLabs (US), Swivl (US), Xaxxon Technologies (Canada), and Hease Robotics (France).