Publishing: September 2021 | Report Code: SE10508 | Available Format: PDF
Telepresence Equipment Market
The telepresence equipment market is driven by the need for enterprises to reduce travelling cost for employees as well as cost effective solutions for global interactions, along with the increasing influence of cloud services. Technological advancements, low operating expenditure, and cost savings are some of the other factors pushing the market growth.
Telepresence is a collaboration tool that enables communication with partners, customers, and co-workers over a converged network across the globe. It offers high speed data transfer capabilities that enable communication with users at distinct location. This is the major factor behind the increasing use of these services in global corporations. Along with this, several government authorities globally, are shifting toward these services owing to its benefits offered such as improved communication at remote locations as well as enhanced connectivity with higher management.
Based on components, the telepresence equipment market has been segmented into hardware, software, and services. The hardware category, which includes displays, projectors, cameras, sensors, audio devices, processors, and others (including wiring, harness and controls), accounted for largest revenue share in 2017. The software category is expected to record highest growth rate during the forecast period, due to regular updates provided by the market players along with the requirement for increased flexibility to connect with a range of devices such as smartphones, tablets and laptops.
On the basis of type, the telepresence equipment market has been classified into immersive, personal, holographic, robotic, multi-codec. Of these, the robotic telepresence equipment category is expected to witness highest growth rate during the forecast period. This is in accordance with the advantages provided by robotic systems such as remote governance and increased efficiency while reducing the costs associated with in-person meetings.
Based on enterprise size, the telepresence equipment market has been categorized into small, medium and large enterprises. Of these, the large enterprise category accounted for largest revenue share in 2017, owing to majority of the usage of telepresence services among large enterprises across the globe. Additionally, high initial cost of telepresence equipment is also a major factor, which acts as a deterrent to small as well as medium enterprises.
North America was the most mature telepresence equipment market in 2017; wherein the region held the highest market share. However, with the growing popularity of voice over internet protocol (VoIP) based technologies in the U.S. and Canada, the North American market is expected to register slow growth during the forecast period.
Europe, on the other hand, accounted for the second largest market share during 2013-2017. Moreover, Asia-Pacific (APAC) is expected to be the fastest growing market during the forecast period. Developing economies in the APAC region such as India and China are exhibiting increasing foreign investments in their industrial sector. The rising communication needs among these companies to function globally is, in turn, pushing the demand for telepresence equipment in the region.
Telepresence Equipment Market Dynamics
The rising adoption of virtual meetings and conferences owing to increasing globalization as well as usage of telepresence equipment in various applications such as education, healthcare, and entertainment are the key growth drivers of the telepresence equipment market. Telepresence video conferencing is increasingly being adopted by many enterprises, as it offers cost effective solutions for high-quality interaction. Also, the growing demand for immediate assistance to patients remotely is pushing the demand for telepresence equipment in healthcare sector, which in turn, is assisting market growth.
One of the key developments in the telepresence equipment market is the use of screen less telepresence systems with holographic technology. The massive increase in computational processing power along with the availability of devices capable of tracking user’s movements are helping the growth of holographic technology in the telepresence as well as video conferencing systems. In this, multicolored holographic 3D images are produced by the process of angular and spatial multiplexing. In 3D telepresence, multiple images are taken from base location and information is transmitted via network to a required location where the hologram is printed with dynamic 3D display. Holographic technology provides huge potential in the telepresence equipment market owing to its ability to project 3D images, thereby improving the telepresence experience significantly.
Telepresence Equipment Market Competitive Landscape
Cisco Systems, Inc. was the largest vendor of telepresence equipment in 2017 with Polycom, Inc. and Huawei Technologies Co., Ltd. Ranked at second and third respectively. Some of the other competitors in the global telepresence equipment market includes HP Inc., Sony Corporation, Array Telepresence Inc., Avaya Inc., Vidyo Inc., and ZTE Corporation.
The report will also provide a country-wise analysis. Some of the major countries that are covered in the report include the U.S., Canada, U.K., Germany, France, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, U.A.E., Saudi Arabia, Turkey, South Africa, Brazil, and Mexico.
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