The Telemetry by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Telemetry, The telemetry market size has grown rapidly in recent years. It will grow from $268.54 billion in 2023 to $297.19 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to operational efficiency and safety, regulatory requirements, automotive and transportation, oil and gas industry adoption, aerospace and aviation.
The telemetry market size is expected to see rapid growth in the next few years. It will grow to $470.97 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to rapid iot expansion, 5g and connectivity advancements,remote monitoring demand, data-driven decision-making, predictive maintenance adoption.. Major trends in the forecast period include industry-specific applications, security and data privacy, rise of edge computing, environmental monitoring, smart cities and infrastructure.
The rising cardiovascular cases and associated mortality are expected to propel the growth of the telemetry market going forward. Cardiovascular is related to or involving the heart and blood vessels. A cardiac telemetry unit involves several patient rooms with vital sign monitors that will continuously transmit data, such as the heart rate, breathing, and blood pressure, to a nearby location. For instance, in December 2022, according to the American College of Cardiology, a US-based non-profit organization, In 2021, there were approximately 1.87 million cardiovascular-related deaths worldwide, representing 3.47 million deaths in total (with a 95% confidence interval of 1.44-2.34 million for cardiovascular deaths and 2.93-4.00 million for total deaths). Therefore, the rising cardiovascular cases and associated mortality are driving the telemetry market growth.
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The telemetry market covered in this report is segmented –
1) By Sensors Components: Pressure Sensors, Position Sensors, Vehicle Dynamics Sensors, Torque Sensors, GPS Sensors, Temperature Sensors, Vibration Sensors, Weather Prediction Sensors, Strain Gauge Sensors, Voltage Sensors, Load Cells Sensors, Resistance Sensors, Current Sensors, Magnetic RPM Sensors, Displacement Sensors, Optic RPM Sensors
2) By Components Type: Hardware, Software
3) By Technology Types: Wire-Link, Wireless Telemetry System, Data Loggers, Acoustic Telemetry, Digital Telemetry
4) By Application Type: Healthcare, Consumer, Aerospace And Defense, Industry And Automation, Agriculture And Wildlife, Logistics And Transportation, Marine And Oceanography, Energy And Power, Oil And Gas, Hydrography
Product innovation is a key trend gaining popularity in the telemetry market. Major companies operating in the telemetry market are focused on developing new technological solutions to strengthen their position. For instance, in February 2021, Lindsay Corporation, a US-based company operating in telemetry, launched RoadConnect, a cloud-based remote asset monitoring platform for the transportation industry. RoadConnect will provide Departments of Transportation (DOTs) with a single-source solution, and the product has unique features such as monitoring and maintaining a virtually unlimited number of roadside assets, including crash cushions, guardrails, and utility poles. The solution has been used to monitor asset details, location, status, and impacts in real-time, enabling DOTs for increasing uptime, health, and performance of critical infrastructures, resulting in improved operational efficiency and overall road safety.
The telemetry market report table of contents includes:
1. Executive Summary
2. Telemetry Market Characteristics
3. Telemetry Market Trends And Strategies
4. Telemetry Market – Macro Economic Scenario
5. Global Telemetry Market Size and Growth
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26. South America Telemetry Market
27. Brazil Telemetry Market
28. Middle East Telemetry Market
29. Africa Telemetry Market
30. Telemetry Market Competitive Landscape And Company Profiles
Top Major Players:
- BAE Systems plc
- Lockheed Martin Corporation
- L3Harris Technologies Inc
- Safran S. A
- Cobham plc
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