Teleoperations Market to grow at a CAGR of 48.45%
The Teleoperations market is projected to reach US$ 95 Bn by 2031, and would grow by more than 48.45% CAGR, during the assessment period 2021-2031.
Teleoperations is nothing but the human remote control of a robot which controls the movements of the robot from some distance away. With help of Teleoperations human operator can see what, how, when the robot is performing the task.
Teleoperations majorly used in automation industry especially for industry-specific solutions like robotics flexibility options including cage-free robots, remote access/control, and fractional ownership/usage. Teleoperations is operates with the new advanced technologies such as broadband communications, artificial intelligence, and Internet of Things (IoT) solutions.
According to latest research by Persistence Market Research, Teleoperations market is set to witness significant growth during 2021-2031. The market will show significant growth in coming years, owing to adoption of technologies such as industry 4.0 and robotic process automation. Moreover, high initial set up cost expected to restrains the growth of the Teleoperations Market.
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What is Driving Demand for Teleoperations Market?
Adoption of industry 4.0 technology in teleoperations is expected to propel the growth of teleoperations market. The government started investing industry 4.0 in recent years. To boost the automation within the industry government provides subsidies as well as rebates on enhance to industry 4.0.
Also advancement in new technologies like ICT infrastructure including broadband communications, sensors, Machine to Machine (M2M) communications, wireless broadband, 5G technology, and Mobile Edge Computing (MEC) fuels the growth of the teleoperations.
5G coverage and MEC enables new consumer and industrial automation scenarios to involve in robotics and it helps to provide the operator a sense of being on location and an augmented reality (AR) user experience while using teleoperations.
Thus the adoption of digitization and industry 4.0 in recent years are driving the demand for teleoperations market.
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Robotic Process Automation is Driving the Adoption of Teleoperations
Robotic process automation (RPA) is a software technology that build, deploy, and manage software robots that helps to emulate human’s actions interacting with digital systems and software. Robotic process automation enables things like understand what’s on a screen, complete the right keystrokes, navigate systems, identify and extract data, and perform a wide range of defined actions.
For instance in Sweden, Ericsson demoed a new teleoperation system that allowed a driver to remotely control an autonomous, electric truck more than 2,000 kilometers away.
So increasing investment in robotic process automation in teleoperations market augments the growth of the teleoperations market.
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North America Teleoperations Market Outlook
North America is anticipated to constitute a major share in the teleoperations market during the forecast period. North America region attributes to considerably high investments in new advanced technologies like AI software, broadband communications, artificial intelligence, and Internet of Things (IoT) solutions drivers helps adoption of teleoperations solutions.
The growth in North America is attributed to the presence of established players such as Tactical Haptics, Robotic Research LLC, Humanistic Robotics, Quantum Signal LLC, and many more. For instance, in California, last mile delivery robots were used to move medical supplies around two stadiums converted into COVID-19 treatment centers.
The end user simply had to open an app on their smartphone or tablet and drop a destination pin for the robot. This rise in demand of industry 4.0 and robotic process automation in North America region fuels the growth of teleoperations market.
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Europe Demand Outlook for Teleoperations Market
Europe is the second largest contributor to teleoperations market, due to adoption of advance technologies like broadband communications, artificial intelligence, and Internet of Things (IoT) solutions. Germany and U.K. are the top countries contributing to the teleoperations market in Europe.
The region shows strong growth and can passed North America in forecasted period due to increase in growth of strong adoption of industry 4.0 and innovation related to manufacturing and production. Europe dominates semiconductor as well as in the automotive industry will ultimately boosts the growth of teleoperations market.
Who are the Major vendors of Teleoperations Market?
Some of the leading vendors and companies of teleoperations include
- Real-Time Innovations
- Teleoperation Consortium
- General Motors
- WATERBORNE Technology Platform V.Z.W.
- Ottopia Technologies Ltd. ZOOX
- Cognicept Systems
- Shadow Robot Company
- taurob GmbH
- Force Dimension
- Surgica Robotica
- ISA System Engineering
- Waymo LLC
These vendors have adopted various key strategies, to increase their customer base locally and globally. They are also spending millions of dollars into product R&D to fulfill the unmet needs of their customers for teleoperations market.
Furthermore, many companies are focusing on acquiring small and mid-sized organizations present in this market.
For instance, In June 2021, Real-Time Innovations announced partnership with Teleoperation Consortium. This partnership enables collaborative effort to identify and address the key issues facing the vehicle teleoperation market. RTI will collaborate with the TC to stimulate growth, increase awareness, and drive industry guidance for development and deployment of autonomous vehicle teleoperations.
- Professional Services
- Managed Services
- IT & Telecom
- Logistics & Transportation
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Teleoperations Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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