The global telepresence equipment market size is estimated to account for USD 2.45 billion by 2025, as per a new report by Million Insights. The market is likely to register a CAGR of 2.9% from 2017 to 2025. Increasing need to establish an effective communication system and reduce the expenses incurred in travelling are bolstering the demand for telepresence equipment.
Rising use of these pieces of equipment in education, government and healthcare are augmenting the growth of the market. Government bodies are aiming at establishing telepresence rooms ‘as a service’ to garner revenue. Organizations across the boards are increasingly adopting these solutions as it enables quality communication.
The growth in robotic telepresence in the recent past is among major factors driving the market growth. Among different end-users, large enterprises held the highest market share in 2016. Increasing spending on IT infrastructure coupled with a growing need to establish a robust communication system is bolstering the segment growth.
North America occupied the largest share in the market in 2016 and the region is projected to expand at a CAGR of 3.4% over the forecast duration. Increasing demand for telepresence equipment in the U.S is augmenting the market growth as region alone held more than 60% of the share in the market in 2016.
Further key findings from the report suggest:
- Telepresence equipment reduces the cost of travelling and being increasingly adopted by enterprises of all types.
- The medium enterprise category is anticipated to exhibit the CAGR of 3.2% over the forecast duration.
- In 2016, North America held the largest share in the market primarily because of presence of a large number of large enterprises.