Global Teleoperation and Telerobotics Market Size to Reach USD 171.91 Billion in 2032 | Emergen Research
Rising demand for remote surgery and diagnosis is a key factor driving market revenue growth
Vancouver, Aug. 31, 2023 (GLOBE NEWSWIRE) — The worldwide market for teleoperation and telerobotics reached a value of USD 40.17 Billion in the year 2022. It is projected that this market will experience a consistent compound annual growth rate (CAGR) of 15.6% throughout the anticipated period, as indicated by the most recent analysis conducted by Emergen Research. The escalating application of teleoperation and telerobotics in endeavors such as space exploration, coupled with the growing embrace of Industry 4.0 and Internet of Things (IoT) technologies, stands as the primary catalysts propelling the expansion of revenue within this market.
Teleoperation facilitates real-time decision-making for operators by utilizing sensory and visual feedback from distant robots. Notably, in NASA’s Artemis initiative, which aims to reintroduce humans to lunar exploration, teleoperation and telerobotics are poised to play a pivotal role. A focal component of this endeavor is the Lunar Gateway, a prospective lunar station that will leverage robotic systems for scientific investigations, cargo handling, and pre-crewed mission preparations. A tangible illustration involves the Hubble Space Telescope, a collaborative undertaking by NASA and the European Space Agency (ESA), which has effectively undergone maintenance and enhancements through teleoperation and telerobotics. Astronauts aboard the Space Shuttle or International Space Station (ISS) have conducted spacewalks to service and repair the telescope. Consequently, these technologies have found substantial application in space operations, thus propelling market revenue growth.
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Nevertheless, the remote operation of robots introduces security vulnerabilities, as unauthorized access or control could lead to severe repercussions. Thus, ensuring the security and dependability of teleoperation systems is paramount to thwart unauthorized entry, data breaches, and potential malicious actions. Teleoperators heavily rely on the sensory and visual inputs from remote robots to execute tasks with precision. Prevalent telepresence systems often lack the capacity to offer comprehensive and immersive sensory data, such as haptic feedback or depth perception. This constraint can curtail the operator’s situational awareness and accuracy, impeding their task performance precision and potentially constraining the expansion of market revenue.
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Scope of Research
|Market Size in 2022||USD 40.17 Billion|
|revenue forecast to 2032||USD 171.91 Billion|
|base year for estimation||2022|
|quantitative units||Revenue in USD Million and CAGR in % from 2023 to 2032|
|report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|segments covered||Component, mechanism, technology, end-use, application, and region|
|regional scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|country scope||U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa|
|key companies profiled||ABB, AppFolio, Inc., AGT Robotics, Robert Bosch GmbH, General Electric, Cisco Systems, Inc., H Robotics, Kuka AG, Omron Corporation, and Kraft TeleRobotics, Inc.|
|customization scope||10 hours of free customization and expert consultation|
Major Companies and Competitive Landscape
The global teleoperation and telerobotics market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective teleoperation and telerobotics solutions. Some major players included in the global teleoperation and telerobotics market report are:
- AppFolio, Inc.
- AGT Robotics
- Robert Bosch GmbH
- General Electric
- Cisco Systems, Inc.
- H Robotics
- Kuka AG
- Omron Corporation
- Kraft TeleRobotics, Inc.
- On 26 January 2022, Blue Origin announced to purchase Honeybee Robotics (Honeybee). Honeybee, which has significant operations in Longmont, Colorado, and Altadena, California, will be fully owned by Blue Origin and will operate as a subsidiary. This acquisition agreement between Honeybee’s parent company, Ensign-Bickford Industries, and Blue Origin was expected to be finalized and the specific details and terms of the deal have not been publicly disclosed.
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Some Key Highlights From the Report
- The services segment is expected to account for largest revenue share in the global teleoperation and telerobotic market over the forecast period. This is due to increasing requirements for remote industrial operations, inspection, and maintenance, as well as rising demand for telemedicine and remote surgery, particularly among elderly population. Remote surgical procedures using telerobotic systems are typically focused on minimally invasive techniques.
- The portable segment is expected to register steadily fast revenue growth rate in the global teleoperation and telerobotic market over the forecast period. This is due to convenience of versatility and adaptability, scalability, cost-effectiveness, and quick deployment of portable teleoperation and telerobotics. For instance, drones are a type of portable teleoperation and telerobotic solution and are currently experiencing a surge in popularity across various sectors, including search and rescue operations, disaster response initiatives, and industrial inspections.
- The aerospace and defense segment is expected to account for significantly large revenue share in the global teleoperation and telerobotic market over the forecast period. This is due to increasing number of companies focusing on various Research & Development (R&D) activities, product launches, and innovations in existing product lines. In addition, ensuring safety of human astronauts, cost efficiency, and ability to access previously inaccessible environments for scientific data collection are also expected to drive revenue growth of this segment during the forecast period.
- The North America market accounted for largest revenue share in the global teleoperation and telerobotic market in 2022. This is owing to increasing adoption of remote working, rising demand for telemedicine and online medical consultations, and rapid utilization of these technologies in space exploration missions. For instance, NASA has employed teleoperation and telerobotics in the exploration of Mars through rovers such as Sojourner, Spirit, Opportunity, Curiosity, and Perseverance. These rovers have been remotely controlled by operators on Earth to navigate the challenging Martian terrain, conduct scientific experiments, and collect vital data about the planet.
- On 21 April 2023, ABB collaborated with Renault Group to supply advanced robotics technology, aiding in the automation of the Electric Vehicle (EV) manufacturer’s production network across various important markets. Over the past two years, ABB has successfully delivered the majority of 160 units of its extensive industrial robot portfolio.
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Emergen Research has segmented global teleoperation and telerobotics market on the basis component, mechanism, technology, end-use, application, and region:
- Component Outlook (Revenue, USD Billion; 2019-2032)
- Sensors and actuators
- Robotic systems
- Control systems
- Communication devices
- AI and automation software
- Teleoperation software
- Simulation and virtual environment software
- Mechanism Outlook (Revenue, USD Billion; 2019-2032)
- Technology Outlook (Revenue, USD Billion; 2019-2032)
- Artificial Intelligence (AI)
- Machine Learning (ML)
- Virtual Reality (VR)
- Augmented Reality (AR)
- Simulation and digital twin technology
- End-use Outlook (Revenue, USD Billion; 2019-2032)
- Aerospace and defense
- Food & Beverage (F&B)
- Automotive and transportation
- Energy and power
- Mining and construction
- Retail and e-commerce
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Welding and drilling
- Additive manufacturing
- Machine tending
- Measuring and inspection
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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