Telemetry Market Growth, Outlook, Analysis, Key Players And Forecast 2033

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.

Market Overview -
Telemetry refers to the automatic measurement and wireless transmission of data from remote sources. The telemetry is used in the health/medical sectors as WMTS (wireless medical telemetry services) to quantify patient health parameters. Sensors at the source will measure either electrical data (such as voltage or current) or physical data (such as temperature or pressure). These measurements have been converted to specific electrical voltages. A multiplexer will combine the voltages, along with timing data into a single data stream for transmission to a remote receiver.

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Elevated Cardiovascular Cases Fueling Telemetry Market Growth
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.

Competitive Landscape -
Major companies operating in the telemetry market report are BAE Systems plc, Lockheed Martin Corporation, L3Harris Technologies Inc. (formerly L3 Technologies Inc. ), Safran S. A., Cobham plc, Honeywell International Inc., Thales Group, Orbit Communication Systems Ltd., Dassault Aviation SA, Curtiss-Wright Corporation, Raytheon Technologies Corporation, AstroNova Inc., Leonardo S. p. A., General Dynamics Corporation, Northrop Grumman Corporation, General Electric Company, Maxar Technologies Inc., RUAG International Holding AG, Advantech Co. Ltd., Digi International Inc., Eurotech S. p. A., Gilat Satellite Networks Ltd., Kongsberg Gruppen ASA, Rockwell Collins Inc., Sierra Wireless Inc., Textron Systems Corporation, Trimble Inc., VectorNav Technologies LLC, Xylem Inc., Zebra Technologies Corporation, ABB Ltd., Emerson Electric Co., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation

Telemetry Market Innovation Driven By New Product Launches
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.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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