Press release
Electromagnetic Tracking Systems: Global Market Report 2024
Electromagnetic Tracking Systems Market
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Report Coverage & Details:
• Forecast Period: 2024-2033
• Base Year: 2023
• Market Size In 2024: $1.02 billion
• Revenue Forecast In 2033: $1.54 billion
• CAGR: 10.9%
Global Electromagnetic Tracking Systems Market: Segmentation
The electromagnetic tracking systems market covered in this report is segmented -
1) By Technology: Optical Navigation Systems, Electromagnetic (Em) Navigation Systems, Hybrid Navigation Systems, Fluroscopy-Based Navigation System, Other Technologies
2) By Distribution Channel: Direct Tender, Retail Sales, Online Sales
3) By Application: Orthopedic Tracking System, Ear, Nose, And Throat (ENT) Tracking System, Cardiac Tracking Systems, Electrophysiology Tracking Systems, Neuronavigation Tracking Systems, Dental Tracking Systems, Other Systems
4) By End User: Healthcare Facilities, Military And Defence, Industrial Automation
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Electromagnetic Tracking Systems Market Report: Growth Drivers
The rising prevalence of virtual and augmented reality is projected to enhance the growth of the electromagnetic tracking systems market. Virtual reality (VR) immerses users in a computer-generated environment, whereas augmented reality (AR) overlays digital information onto the real world, enriching user interaction with their surroundings. Electromagnetic tracking systems are utilized in both VR and AR to accurately track the position and orientation of devices or sensors, facilitating seamless and precise real-time interactions within digital environments. For instance, in February 2023, XR Today, a U.K.-based technology podcast, reported that approximately 57.4 million individuals owned a VR headset in 2020, with an increase of 37.7 million expected by 2022. Furthermore, according to Stefanini IT Solutions, a Brazil-based software company, around 1.4 billion AR users were projected globally in 2023, rising to 1.73 billion by 2024. Therefore, the rise in virtual and augmented reality is promoting the growth of the electromagnetic tracking systems market.
Key Developments:
General Atomics Inc. Acquires EO Vista LLC In Strategic Move
In September 2023, General Atomics Inc., a US-based energy company, acquired EO Vista LLC for an undisclosed amount. With this acquisition, they aim to expand their weather and science programs and their range of sensor system payload designs, including intelligence, surveillance, and reconnaissance missions. EO Vista LLC, is a US-based manufacturer of high-performance electro optical and infrared (EO/IR) sensor systems
Top Market Leader Included:
Medtronic plc, Koninklijke Philips N.V., Stryker Corporation, B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Smith+Nephew, DePuy Synthes Companies, KARL STORZ SE & Co. KG, NuVasive Inc., Globus Medical Inc., TT Electronics plc, Heal Force Bio-Meditech Holdings Limited, Brainlab AG, Northern Digital Inc., Premo S.L., NeuroLogica Corporation, Augmedics Ltd., MediGuide Ltd., OrthAlign Inc., Skeletal Dynamics LLC, Polhemus Corporation, OrthoGrid Systems Inc., Radwave Technologies Inc., Ommo Technologies, Amfitech ApS
Electromagnetic Tracking Systems Industry: Regional Landscape
North America was the largest region in the electromagnetic tracking systems market in 2023. The regions covered in the electromagnetic tracking systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electromagnetic tracking systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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What Does The Global Electromagnetic Tracking Systems Market Report Include?
1.Introduction
• Overview of the Electromagnetic Tracking Systems Market
• Comprehensive Analysis of Electromagnetic Tracking Systems Market
2. Electromagnetic Tracking Systems Market Drivers and Restraints
• Drivers and Restraints For Historic And Forecast Period
3. Electromagnetic Tracking Systems Market Segmentation
• By Drug Class
• By Indication
• By Distribution Channel
4. Competitive Landscape And Company Profiles In The Electromagnetic Tracking Systems Market
• Overview
• Products and Services
• Strategy
5. Electromagnetic Tracking Systems Market Regional And Country Analysis
• By Region
• By Country
6. Market Trends And Opportunities In Electromagnetic Tracking Systems Market
• Technological Advancements
• Emerging Trends
7. Electromagnetic Tracking Systems Market Future Outlook and Potential Analysis
• Growth Strategies
• New Opportunities
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