Global 3D Telepresence Market Size (2024 - 2030)

The Global 3D telepresence market was valued at USD 1.78 billion and is projected to reach a market size of USD 6.2 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 19.5%.

Industry Overview:

Telepresence consists of a set of technologies that allow a person to give the appearance of being present, or to have an influence at a location other than their actual location through telerobotics. People from another part of the world may appear life-size in the room for live two-way communication while making eye contact. Telepresence necessitates that the users' senses be stimulated in such a way that they feel as if they are in another location. Users may also be allowed to influence the remote location. To achieve this effect, the user's position, movements, activities, voice, etc., may be sensed, relayed, and reproduced in a remote place. As a result, data between the user and the remote location may move in both directions. The remote consumer's digital representations could be displayed over the real world using recent breakthroughs in augmented reality (AR) combined with 3D, such as Google Glass, Atheer AiR Glasses, and Microsoft HoloLens, producing a mixed-reality experience. While the quality of the audio and visual transmission has increased dramatically over time, 2D video technology has some inherent limitations, including the loss of nonverbal cues like eye contact and gestures, which are difficult to mitigate. Some of these challenges are addressed by 3D telepresence, which allows for the rendering and streaming of 3D video data between two or more parties, boosting its global popularity.

The increasing adoption of advanced technologies such as augmented reality and mixed reality is likely to pave the way for a new collaborative platform like 3D telepresence. While firms like Cisco (Spark system), which is a bundle of cameras, 4K screen speakers, and supporting equipment, are developing smart conference rooms, technological improvements are resulting in more life-like experiences through technologies like telepresence. Furthermore, applications such as remote collaboration, where multidisciplinary teams must collaborate closely with 3D data or models, such as in manufacturing, design, medicine, physical sciences, architecture, digital humanities, astronomy, and education, among others, are likely to drive demand for these solutions. Initiatives aimed at promoting the use of common video conferencing to acquire real-world experience are also propelling the market forward. One of the main incentives for the use of 3D telepresence technology is the need for global enterprises to cut down on trip costs. Other factors driving growth in this market include an increase in the use of high-quality telepresence technology in the health care, education, and government sectors. Telepresence-related component sales, such as cameras, displays, and microphones, are also predicted to increase dramatically in the future.

COVID-19 pandemic impact on the 3D telepresence Market

The global spread of the COVID-19 pandemic has wreaked havoc on organizations in a variety of industries, driving up the need for remote collaboration to maintain seamless communication and worker flexibility. The need is likely to continue in the post-COVID-19 environment, as technological deployment has not only ensured company continuity during the pandemic but has also resulted in positive attempts to maintain job productivity. Various established teleconference systems have been widely used as a way of communication in both personal and professional contexts throughout the COVID-19 pandemic, but common platforms include Zoom, Google Meet, Skype, and Blackboard Collaborate in the educational sector. These platforms' presence-based flaws have influenced existing companies with XR expertise to hasten their growth in this sector. In the aftermath of the COVID-19 epidemic, trends like remote working and the need for immersive experiences are predicted to gain traction. 3D telepresence devices serve a critical role in assuring the workflow in this regard.

MARKET DRIVERS:

Enhanced user experience is likely to fuel the growth of the 3D telepresence market

Tele-immersion technology, combined with 3D technology, provides distant users a greater sense of presence, whether it's integrated with virtual or augmented reality (AR). Apart from improving the user experience in terms of communication, which is now done with 2D video conferencing, this technology has the potential to be used in several other sectors, reducing the need for travel.  Furthermore, applications such as remote collaboration, where multidisciplinary teams must collaborate closely with 3D data or models, such as in manufacturing, design,  architecture, astronomy, medicine, digital humanities, physical sciences, and education, among others, are likely to drive demand for these solutions.

Video Conferencing capabilities are likely to contribute to the growth of  the 3D telepresence market

The expansion of telepresence has been aided by the introduction of higher-quality equipment, lower bandwidth prices, and the need for top executives to save money on business trips. For an increasing number of companies in the Asia Pacific that already have video conferencing capabilities, telepresence is swiftly becoming the next must-have technology in the company arsenal. The Tokyo Convention & Visitors Bureau (TCVB) completed the 9th UIA Associations Round Table Asia-Pacific 2021, which was held for the first time in Japan, as the host partner city for the Union of International Associations (UIA). For the first time, the UIA's Round Table was hosted in a hybrid format. A novel example of using innovative and intriguing telepresence avatar robots was presented during the panel discussions, presenting a way for organizing hybrid global gatherings.

MARKET RESTRAINTS:

The high cost of 3D  equipment can slow the market progression of 3D telepresence

While the quality of the audio and visual transmission has increased dramatically over time, 2D video technology has some fundamental limitations, including the loss of nonverbal cues like eye contact and gestures, which are difficult to mitigate. Some of these challenges are addressed by 3D telepresence, which allows for the rendering and streaming of 3D video data between two or more parties, boosting its global popularity. Musion 3D, for example, has used the technology in various entertainment demonstrations. The exorbitant expense of such 3D systems, as compared to 2D telepresence/video conferencing, has limited their practical usage to date. Holographic picture projection requires pricey components. Large-scale holographic projection remains prohibitively expensive despite lower costs for light modulators and other equipment.

Complications associated with 3D telepresence procedures can slow the market progression

Hologram visibility is restricted to specified view angles. To acquire a clear view of the holographic image, the viewing devices must be placed in specific locations. For optimum visualization, the viewer is usually necessary to stand in front of the image. Also, the complete holographic projection process is pre-programmed, implying that the entire visualization has previously been designed. Complex coding is necessary to create interactive holograms. Additionally, to have clear holographic communication with smart devices, carrier networks with large bandwidth are required. As the number of customers grows, so do the bandwidth requirements.

3D TELEPRESENCE MARKET REPORT COVERAGE:

This research report on the global 3D Telepresence Market has been segmented based on solution type, application, and region.

3D Telepresence Market – By Solution Type

• Hardware
• Software

Based on Solution Type, the 3D Telepresence Market is categorized into Hardware and Software. The Hardware segment is predicted to have the largest market share during the forecast period. Hardware devices have witnessed an increase in demand owing to their increased use in educational institutions and global organizations. Moreover, telepresence methods are becoming more familiar in low-budget applications as the hardware becomes cheaper. Furthermore, as the market evolves, organizations are moving away from video conferencing and toward immersive telepresence solutions. The need for 3D telepresence hardware is likely to rise as these solutions become more widely utilized by company executives.

3D Telepresence Market – By Application

• Education
• Conferencing
• Advertising
• Customer Service
• Others

Based on Application, the 3D Telepresence Market is categorized into Education, Conferencing, Advertising, Customer Service, and Others. Many end-user sectors, including healthcare and finance, have embraced 3D telepresence systems as they improve communication and reduce overhead costs. Telepresence technology can increase productivity by up to 40% in a company by allowing for faster decision-making, lower travel costs, and shorter trip times. Field Service brings together service, support, and customer success professionals from many industries to create world-class operations. Field service managers organize the work of field service practitioners who provide professional, specialized, or proprietary services to clients and keep track of an organization's field resources.

3D Telepresence Market - By Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Geographically, the North American 3D Telepresence Market is dominating the global market. The adoption of 3D telepresence room solutions by several large organizations in this region, and the growing adoption of advanced technologies, including AR and MR are significantly driving the regional market. Key players like Cisco are investing in 3D telepresence. Microsoft is also actively working on AR technology, in the United States. For instance, Microsoft HoloLens is a breakthrough in MR technology that was first released in the United States and Canada. Cisco and its partners, offer devices such as the TelePresenceTX9000 to help users improve their immersive experience in traditional meeting rooms.

The European 3D Telepresence Market is anticipated to grow at a CAGR of 15% during the forecast period. The 3D telepresence in Europe is on the rise, with more businesses implementing advanced communication techniques in their stride. Rising demand for remote collaboration and technological development has led to companies shifting from traditional video conferencing to immersive telepresence. Furthermore, UK retail and other firms are migrating to the cloud to centralize their communications, and the usage of 3D Telepresence systems can be a key step in improving the customer experience. The increased adoption of advanced technologies such as AR and VR in Europe is anticipated to pave the way for the growth of the 3D telepresence industry.

The Asia Pacific 3D Telepresence Market is poised to grow at a high rate during the forecast period. This can be attributed to the growing adoption of advanced technologies, such as AR and MR. Growing adoption of applications like Google Hangouts, Skype, Facetime, and other video conferencing platforms across enterprises to enable remote communication is driving the market growth.

Major Key Players in the Market

1. TelePresence Tech
2. Microsoft Corporation
3. Cisco Systems Inc.
4. Polycom Inc.
5. Teliris, Inc. (Dimension Data)
6. Digital Video Enterprises Inc.
7. Musion
8. ZTE Corporation.

Notable happenings in the Global 3D Telepresence Market in the recent past:

• Product Launch- In March 2021, Microsoft's collaboration tool, Mesh, was released as a preview. People in various physical places can join collaborative and shared holographic experiences on a variety of devices owing to the new mixed-reality platform powered by Azure.
• Collaboration- In March 2021, SIGNA and FRINK Advanced Services, a Cisco partner, created a digital, remote sales experience with the help of Ava Robotics' telepresence robots. These Cisco Webex-powered telepresence robots were designed to assist clients and realtors in conducting contactless, distant home tours while keeping a consistent level of interaction with sales professionals.
• Product Launch- In May 2021, Google introduced its Project Starline during an I/O conference. Currently, Project Starline relies on custom-built hardware and specialized equipment. The corporation is now testing the initiative in certain of its workplaces to make the technology more accessible and cost-effective.
• Partnership- In October 2020, ZTE Corporation teamed up with China Unicorn to create a smart community based on fiber-to-the-home technology. In Yinchuan, China, they announced the successful completion of a trial of an innovative smart community deployment based on a Fibre To The Home network. Over the existing Passive Optical Network internet infrastructure, this trial has enabled the growth of smart community services.
• Investment- In November 2020, PORTL Inc., a holographic telepresence firm with its display, design, and live video streaming software, content management, and delivery platform, raised USD 3 million in a seed round sponsored by venture capitalist Tim Draper.