Global Teleoperations Market: Introduction
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.
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.
Global Teleoperations Market – Competition Landscape
- In June 2020, DriveU.auto raised US$ 4 Mn specifically to boost the deployment of autonomous vehicles through superior connectivity.
- In June 2019, DENSO Corporation and Ottopia entered into a strategic collaboration to provide teleoperation solutions focused on safety and scalability within the automotive industry.
Global Teleoperations Market: Segmentation
The global teleoperations market can be segmented based on:
Global Teleoperations Market, by Component
Based on component, the global teleoperations market can be divided into:
Global Teleoperations Market, by Industry
In terms of industry, the global teleoperations market can be segregated into:
- IT & Telecom
- Logistics & Transportation
Regional analysis of the global teleoperations market includes:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Remote Operation
- Autonomous Operation
- Real-time Monitoring
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.