Teleoperation and Telerobotics Market: Current Analysis and Forecast (2022-2028)

Teleoperation and telerobotics are basically similar in terms which simply means remote controlling robots or computers from a distance. This makes the human users able to perform complex tasks from a distance or inaccessible environment. For example, remotely operated vehicles. It is basically a combination of human skills with the physical strength, precison and durability of robots. For instance, a human operator who repairs an undersea cable using a robot. Telerobotic devices are generally built for situations that are too dangerous, unconfortable, limiting or costly for humans to perform. Therefore, majorly the growing security concers paired with the advancement in the technology is driving this industry. Some of the applications like, underwater inspection, maintenance, costruction mining, exploration, research and recovery , science and surveying.

The Teleoperation and Telerobotics Market is expected to grow at a strong CAGR of 21.8% during the forecast period owing to the increasing usage of cloud robotics technology paired with growing 5G network. Moreover, the high demand of use of Internet of things technologies along with the machine to machine (M2M) sensors and growing adoption of broadband communication and safety concerns are some major factors which are helping this market to grow rapidly. For instance, in August 2022, Hyundai Motor Group invested USD 400 million in manifesting the Boston Dynamics AI Institute to advance AI and robotics.

Based on components, the market is segmented into hardware, software and services. Amongst these, the hardware segment is dominating the market. This is due to the obvious reason that hardware components majorly derive the efficiency of the robots performance, the stronger or advance the hardware is the more work load it can handle. For example, sensors , joints and a set of motors are used to create and control movement required to solve a given task.

By robot type, the market is bifurcated into industrial robots {automotive, food & beverages, electronics, others} , cobots and service robots {logistics, military & defence, medical & healthcare, others}. Among these, industrial robots have captured the majority share of the teleoperation and telerobotic market. The increasing demands of good and services globally is growing the industries and therefore to full fill those demands the advanced technologies and robots are being used. For example, food industry, manufacturing industry or etc.

On the basis of applications, the market is bifurcated into manufacturing, space & science, healthcare, aerospace & defence, media & entertainment, logistics and others. The space & science segement held a major share of the teleoperation and telerobotics market in 2020 and are expected to grow at a substantial CAGR during the forecasted period. Most of the space explorations are being done by telerobotic space probes also space based astronomy is been conducted with telerobotic telescopes because its cheaper to send robots instead of human in space for all the operations.

For a better understanding of the market adoption of the Smart Home industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific), Rest of World. Asia Pacific is expected to lead the teleoperation and telerobotics market in due to the increased adoption of use of robots. Considering the rapid growth prospects of the region in every aspect, growth is mainly attributed to favorable conditions of development in industrial, health or other sectors. The aging population is also leading the government organisations to rely more on robots in the workforce.

Some of the major players operating in the market include: ABB ltd.; Yaskawa Electronics Corporation; Kawasaki Robotics; Denso Corporation; Fanuc Corporation; Kuka AG; Mitsubishi Electric Corporation; Omron Corporation; Seiko Epson Corporation; Staubli International AG