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3d Telepresence Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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By Author: Statzy Market Research
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The growing adoption of advanced technologies, such as AR and MR, is expected to pave the path for a new collaborative platform called 3D telepresence.

- Audio and visual applications like Google Hangouts, Facetime, Skype, and other video conferencing platforms for office are co-existing today for use across enterprises to enable remote communication.

- Although the quality of experience, with regard to audio and visual transmission, has significantly improved over the years, the 2D video technology has several inherent drawbacks, like loss of non-verbal cues, such as eye contact and gestures, which cannot be mitigated easily. Some of these issues are addressed by 3D telepresence, which provides rendering and streaming of 3D video data between two or more parties, and this boosts the adoption of 3D telepresence, globally.

- While there are smart conference rooms that are being developed by companies like Cisco (Spark system) which is a bundle of cameras, 4K screen speakers and supporting devices, technology advancements are resulting in more life-like experiences by technologies like telepresence.

- ...
... Companies like Cisco, Microsoft, Teliris, Huwaei, Sony, among others are the early entrants in the telepresence space. Since the inception, few challenges like interoperability between telepresence systems of different vendors and compatibility of the technology with networks offered by different telecom were achieved.

- The technology has been showcased in several entertainment demonstrations, like Musion 3D. However, till date, the practical applications have been limited by the high cost of such 3D systems, as compared to the 2D telepresence/video conferencing.

- By taking advantage of recent advances in augmented reality (AR), coupled with 3D, such as Atheer AiR Glasses, Google Glass, and Microsoft HoloLens, the remote consumer's digital representations could be rendered over the real world, creating a mixed-reality experience.

- Following the pandemic, trends such as remote working and need for immersive experiences are expected to gain momentum. In such regard, 3D telepresence systems play a key role in ensuring the workflow.

Key Market Trends

Enhanced User Experience expected to Drive the Growth

- The tele-immersion technology, coupled with 3D technology, provides an increased level of presence of the remote users, whether it is bundled with virtual or augmented reality (AR). Aside from enhancing the user experience, in terms of communication, which is currently performed with 2D video conferencing, there is a potential use of this technology in several other areas that would reduce the need for travel.

- Moreover, applications, such as in remote collaboration, where multi-disciplinary teams have to work closely with 3D data or models, like in design, manufacturing, medicine, physical sciences, architecture, astronomy, digital humanities, and education, among various other applications, are expected to drive the demand for these solutions.

- Further, initiatives aimed at pushing the deployment of common video conferencing to achieve real-world experience, are driving the market growth. For instance, in July 2020, researchers from Facebook Reality Labs announced the development of a virtual telepresence system that utilizes photorealistic avatars aimed at capturing and conveying the gaze and eye contact signals of social interactions in the real-world.

- Statistical forecasts suggest that an organization would be able to boost its productivity by up to 40% due to quick decision making, saving travel cost and travel time because of the 3D telepresence systems.

Europe to have a Dominant Share in the Market

- Various research studies are being conducted to ensure immersive experience in 3D telepresence systems. For instance, researchers from the De Montfort University in Leicester, United Kingdom are working on a project to develop new algorithms that could reduce lossy compression of point clouds whose usage is widely observed in 3D telepresence.

- Compared to traditional video technology, 3D point clouds offer various advantages, such as free-viewpoint rendering and the mix of natural and synthetic objects. The EU-funded OPT-PCC project is working on developing new data compression algorithms aimed at optimizing the image rate-distortion performance with efficient compression methods that could increase storage capability and improve the usage of bandwidth.

- The growing adoption of advanced technologies, such as AR and MR, is expected to pave the path for increased adoption of the 3D telepresence market.

- As a part of its industrial development strategy, the UK government had announced an investment of EUR 400 million in June 2020 to back cutting-edge R&D projects across the country, that also cover immersive technologies like AR, VR and MR. Such investments are expected to increase opportunities for UK-based businesses to create new apps, tools and virtual experiences.

- For seizing the growth opportunities in the market, the mixed reality (MR) based startups are regularly attracting funds from investors for product innovations. For example, Zapper announced to raise investments for its MR device, which is priced at USD 30. The startup recently released the next version of its app.

- Similarly, in October 2019, a London-based startup - Hyper developed an innovative MR co-design platform that serves as a solution at the time-consuming prototyping and their bottlenecks.

Competitive Landscape

The 3D Telepresence Market is Highly fragmented due to the presence of a large number of players. Major players in the market include TelePresence Tech, Cisco Systems Inc., Microsoft Corporation, Teliris, Inc. (Dimension Data), Digital Video Enterprises Inc., Musion, Polycom Inc., and ZTE Corporation. Some key recent developments in the market are as follows:

- Jun 2020- Microsoft updated its photos application with new AI-powered functionality. Microsoft photos app will be able to identify individual people across the user's entire collection of images, making it easier to categorize shots by their content and create customized slideshows of pictures with a particular person as their focus.

- Oct 2020- ZTE Corporation partnered with China Unicorn to build a FTTH-based smart community. They announced the completion of triall of an innovative smart community deployment based on a Fibre To The Home (FTTH) network in Yinchuan, China.This trial has enabled the groth of smart community services over the existing Passive Optical Network (PON) broadband infrastructure.

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StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.

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