Teleoperations enable the controlling of a robot remotely for the execution of a task. An individual controls the movement of the robot through two-way signal communication. The two-way communication signal system is called telemetry. Teleoperation is also known as telepresence. It enables a human operator to see what the robot sees while performing the task. This also provides the operator a sense of being on location and an augmented reality (AR) user experience. The rising focus on Industry 4.0 and increasing developments in robotic process automation is propelling the teleoperations market across the globe.
Global Teleoperations Market – Dynamics
Increasing Investment in Industry 4.0 and Robotic Process Automation Driving Growth of the Teleoperations Market
Government investment in Industry 4.0 has increased over the past few years. Digitization and Industry 4.0 are collaboratively boosting the teleoperations market. Governments are also providing subsidies as well as rebates on upgrades specific to Industry 4.0 to enhance automation within industries. Investment in robotic process automation to automate the manufacturing and supply chain has increased over the past five years. For instance, Ericsson demonstrated a new teleoperation system that allowed a driver to remotely control an autonomous, electric truck more than 2,000 kilometers away in Sweden. The growing advancement and investment within automation is driving the growth of the market.
High Initial Capital Cost for Integration
The initial capital cost for the integration and installation of teleoperations on a large scale needs high investment. Small & medium enterprises avoid investing large amounts within the teleoperations space due to the high capital requirement. For instance, a SME in the logistics industry would refrain from investing in teleoperations in comparison to a large enterprise. Integration & installation would also lead to system downtime which can impact the overall productivity of an enterprise. The capital risk related to installation & integration of the whole system is hampering the growth of the market.
Europe to Dominate the Global Teleoperations Market
In terms of region, the global teleoperations market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe is expected to dominate the teleoperations market during the forecast period due to strong adoption of Industry 4.0 and innovation related to manufacturing and production. The region holds dominant position in the semiconductor as well as in the automotive industry. In terms of growth, it is estimated that investment from governments in the Asia Pacific region for Industry 4.0 will boost the market in the region.
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COVID-19 Impact on the Global Teleoperations Market
The COVID-19 pandemic is expected to moderately impact the global teleoperations market. The high cost related to investment has made end-users skeptical about deployment of teleoperations. On the other hand, contactless movement of products within manufacturing units as well as for delivery of products has driven market growth. It is estimated that the trend of contactless delivery will drive the market in the long-term period.
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