According to the business intelligence report titled ‘Global Teleoperation and Telerobotics Market Size study, by Component (Hardware, Software and Services), by Application (Transportation & Logistics, Healthcare & Medical, Military & Public Safety and Energy & Power) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global teleoperation and telerobotics market is anticipated to register a nominal growth rate through the analysis timeframe and accrue a modest valuation by the end of 2028.

Rising popularity of Artificial Intelligence (AI), and surging adoption of smart vehicles are factors driving global teleoperation and telerobotics market growth.

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For those unaware, teleoperation is a technical term that refers to remotely controlling a robot. Signals are sent out to control the functioning of the robot and a feedback signal is sent back to notify the operator.

Notably, NITI Aayog published an article in 2018, highlighting numerous efforts taken by the Indian government to encourage the adoption of AI across sectors. Statistics claim that investments in AI startups have grown to USD 73 million in 2017 from USD 44 million in 2016.

In addition, owing to significant technological advancements across verticals over the past few years, the profitability graph of the industry is estimated to upscale during 2022-2028.

However, lack of skilled professionals may severely impede the revenue scope of the industry in the ensuing years.

Considering segmentation, worldwide teleoperation and telerobotics market is categorized on the basis of application spectrum, and component.  Projections with respect to future growth are provided in the document to ensure a deeper understanding of market dynamics among stakeholders.

From a regional frame of reference, North America market is anticipated to record significant expansion during the analysis timeframe, owing to the proliferation of AI in the region.

Meanwhile, Asia Pacific industry is poised to retain notable revenue share during the assessment period, backed by rising disposable income and substantial investments for advancing the IT sector across the region.

Lastly, the profiles in terms of current product portfolio and latest developments along with strategic advances of influential industry players such as Robert Bosch GmbH, ABB Group, ARM Holdings plc, AppFolio Inc., Console Inc., Cisco Systems Inc., CloudMind Technologies Co. Ltd., Buildium, and Calvary Robotics are entailed in the global teleoperation and telerobotics market document.