The most recent study conducted by Report Ocean, titled “Global Teleoperation and Telerobotics Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Teleoperation and Telerobotics. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Teleoperation and Telerobotics Market is valued at approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. Teleoperations, also called telerobotics, is the technical term for the remote control of a robot. Signals are sent to the robot to control it; other signals come back, telling the operator that the robot has followed the instructions. The rising investment in artificial intelligence and rising smart vehicles adoption has led to the adoption of Teleoperation and Telerobotics across the forecast period. For Instance: NITI Aayog has published a working paper on AI in June 2018; defining India’s planned approach towards AI.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Investment in AI startups in India has grown to US$ 73 million in 2017 from US$ 44 million in the previous year. Also, with the technological advancements, the adoption & demand for Teleoperation and Telerobotics is likely to increase the market growth during the forecast period. However, lack of skilled professionals impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the Global Teleoperation and Telerobotics Market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the AI software in support of the teleoperations. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as rising disposable income, rising IT investment would create lucrative growth prospects for the Teleoperation and Telerobotics market across Asia-Pacific region.
Major market players included in this report are:
CloudMinds
AppFolio
ABB Group
AGT Robotics
ARM Holdings
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Bosch
Buildium
Console
Calvary Robotics
Cisco
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Hardware
Software
Services
By Application:
Transportation & Logistics
Healthcare & Medical
Military & Public Safety
Energy & Power
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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