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.
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
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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
Telepresence Equipment Regional Outlook (Revenue, USD Million;Volume, Million Units; 2014 - 2025)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
• Asia Pacific
o China
o Japan
o South Korea
• South America
o Brazil
• The Middle East and Africa (MEA)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.