3D Telepresence Market

3D Telepresence Market Size (2022 - 2027)

The market for 3D Telepresence was valued at $1.54 billion in 2020 and is predicted to reach $4.5 billion by 2026, growing at a CAGR of 19.6% during the forecast period (2022 - 2027). The increasing usage of advanced technologies such as augmented reality and mixed reality is projected to pave the way for a new collaborative platform known as 3D telepresence.

3D Telepresence produces true depth without the use of 3D glasses. A person from another part of the world can seem life-size within the room for live two-way dialogue while making eye contact. Telepresence encompasses a range of technologies that enable a person to feel as though they are present, to appear to be available or to make an influence via telerobotics at a location other than their own. Clients' faculties must be raised to the point where they feel as if they are in the other location for telepresence to work.

Market Drivers

Tele-immersion technology, when combined with 3D technology, gives distant users a greater sense of presence, whether it's combined 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 many other sectors, reducing the need for travel. Furthermore, applications in design, manufacturing, medical, physical sciences, architecture, astronomy, digital humanities, and education, among others, are likely to boost demand for these solutions.

Market Restraints

The high cost of 3D equipment is the only restraint for the global 3D telepresence market.

3D TELEPRESENCE MARKET REPORT COVERAGE:

Market Segmentation

3D Telepresence Market - By Type:

• Hardware

• Software

Hardware devices have seen an upsurge in demand due to greater use in educational institutions and multinational organisations. Furthermore, when the company improves its existing video conferencing solutions in these areas, demand for the equipment is expected to rise. Furthermore, as telepresence technology becomes more accessible, it is appearing in more low-budget applications. In addition, as the market matures, businesses are shifting away from video conferencing and toward immersive telepresence solutions. As these technologies become more frequently used by company leaders, the public, and political figures, the need for 3D telepresence hardware is anticipated to increase.

Regional Analysis

Many large enterprises in North America are implementing 3D telepresence room solutions, which is a major contributor to the region's rapid adoption of 3D telepresence. The market is being driven by major players like Cisco, who are investing in the 3D telepresence market in this region. Furthermore, enterprises in the region have linked up to provide clients with 3D telepresence solutions.

Europe dominates the market through massive investment in R&D. The EU-funded OPT-PCC project is exploring innovative data compression algorithms to improve image rate-distortion performance with effective compression approaches that could increase storage capacity and improve bandwidth use. Through several government initiatives and an increase in tech start-ups, the United Kingdom dominates the regional market.

Market Leader

Microsoft is the largest company in the global 3D telepresence market.

Key Players

1. Cisco (US)
2. Polycom (US)
3. Digital Video Enterprises Inc (US)
4. ZTE (China)
5. Dimension Data (South Africa)
6. Musion (Italy)
7. HYPERVSN (UK)
8. MDH Hologram Ltd (UK)
9. Holoxia (UK)
10. Realfiction (Denmark)

Recent Developments

• Microsoft is releasing a new completely managed load testing solution for Azure, which will assist QA testers and developers in optimising the performance and scalability of their apps.
• The new Axon 30 Ultra Aerospace Edition from ZTE is the world's first smartphone with 18GB of RAM and 1TB of internal memory. Except for minor physical redesigns, the new smartphone is a special variant of the Axon 30 Ultra smartphone with 16 GB of random access memory. It has a 6.67-inch curved AMOLED screen with FHD + resolution, 144Hz picture refresh rate, Qualcomm Snapdragon 888 engine, and a triple camera with 64 megapixels.
• TELUS has signed a Memorandum of Understanding (MoU) with TeleVU, a prominent Canadian tech startup focused on the application of smart glasses in healthcare settings using the capabilities of Augmented Reality (AR) and Artificial Intelligence (AI). TELUS is a significant telecommunications business in Canada, as well as the country's leader in digital health technology, which is transforming the flow of health information across the continuum of care and enhancing access to health and wellness services. 
• Following an increase in dangers as businesses moved their activities online, IT company Dimension Data is eyeing a larger piece of the cybersecurity services market. The company has created a threat intelligence hub called the Dimension Data Threat Intelligence Centre, which will serve as a single point of control for cyber security risks. According to an internal poll, 58 per cent of small and medium businesses (SMEs) have experienced a cyber-attack, with 81 per cent of these having had to develop new security procedures and discard old ones.