Telepresence (Videoconferencing) Market by Component – 2022

Seattle, WA — (PRESS RELEASE JET) — 10/26/2017 — According to the new report “Telepresence (Videoconferencing) Market by Component (Hardware, Software and Service), System Type (immersive Telepresence, Personal Telepresence, Holographic Telepresence, and Robotic Telepresence), Industry, and Geography – Global Forecast to 2022”, the global telepresence market is expected to reach USD 2.63 Billion by 2022 at a CAGR of 19.6% between 2016 and 2022. Factors such as technological superiority, reduced costs of travel for small and large enterprises, minimized operational cost, and growing demand for robotic telepresence are the key drivers for telepresence market.

Browse 68 market data Tables and 53 Figures spread through 152 Pages and in-depth TOC on “Telepresence (Videoconferencing) Market – Global Forecast to 2022”

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Software component held the largest market share in 2015 and is expected to exhibit high growth during the forecast period

Software is major component in a telepresence system. A telepresence system works on various software such as cloud computing and CAD among others. The updating of software provides easy access to IP networks and flexibility to collaborate with devices such as desktops, tablets, and smartphones. These periodic upgrades contribute toward the growth of the telepresence market for software.

Telepresence helps reduce travel costs in the enterprise sector

Many small to large business sectors use telepresence systems for virtual meetings with their distantly located customers, employees, or partners. It facilitates efficient communication with people across the globe, without having to travel physically. This significantly reduces the travel expenses; this is one of the major driving factors for the growth of the telepresence market, globally.

North America held the largest share of the telepresence market

The major tech companies such as Cisco Systems Inc. (U.S.), Polycom Inc. (U.S.), ZTE Corp. (U.S.), Avaya Inc. (U.S.) and Vidyo Inc. (U.S.) among others has been developing telepresence systems for various verticals; this is one factor responsible for the dynamic growth of the telepresence market in North America. The U.S. held the largest market share in North America, in 2015. Additionally, their application in the medical sector has fueled market growth.

The market in APAC is expected to grow at the highest CAGR during the forecast period. The increasing number of businesses in APAC has increased the demand for videoconferencing technologies. The use of advanced videoconferencing such as telepresence help users experience close-to-real presence of a person in some other part of the world. Japan, China, and India hold a large share of this market in APAC.

Some of the players operating in APAC are Cisco Systems, Inc. (U.S.), Polycom Inc. (U.S.), Avaya Inc. (U.S.), ZTE Corp. (U.S.), Huawei Technologies Co., Inc. (China), VGo Communications, Inc. (U.S.), Vidyo Inc. (U.S.), Teliris Inc. (U.K.) and Array Telepresence (U.S.) among others.

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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