Telemetry Market Size, Driving Factors, Growth Statistics, Competitive Landscape And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Telemetry Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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..

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Market Drivers and Trends:

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.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

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 2024 Key Insights:

• 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%.
• Elevated Cardiovascular Cases Fueling Telemetry Market Growth
• Telemetry Market Innovation Driven By New Product Launches
• North America was the largest region in the telemetry market in 2023

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