May 2020 | Report Format: Electronic (PDF)
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 enterprises to reduce the cost in traveling for the employees is the 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.
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.
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www.grandviewresearch.com/industry-analysis/telepresence-equipment-market
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
