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Surging Demand For Electromagnetic Tracking Systems Fueled By The Soaring Popularity Of Virtual And Augmented Reality Experiences: Critical Driver Shaping the Electromagnetic Tracking Systems Market in 2025
Electromagnetic Tracking Systems
Electromagnetic Tracking Systems Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for electromagnetic tracking systems has experienced fast-paced growth in recent years. The projected increase is from $1.02 billion in 2024 to $1.13 billion in 2025, with a compound annual growth rate (CAGR) of 11.1%. Factors contributing to the growth in the historic period include improvements in customer experience, digital transformation, the rising demand for personalization, applications in healthcare, and the media and entertainment industry.
Electromagnetic Tracking Systems Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for a rapid expansion in the electromagnetic tracking systems market in the coming years. By 2029, it is projected to reach $1.71 billion, with a compound annual growth rate (CAGR) of 10.8%. This predicted growth over the forecast period is due to factors such as the rise in AI and machine learning use, increased emotional intelligence awareness, the growing use of digital channels for brand outreach, an upsurge in IoT devices, and a rising demand for enhancing sales performance. The forecast period will also see significant trends such as technological advancements, development in sensing devices, progression in AI and machine learning, product innovation, and mergers and acquisitions.
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What Are the Drivers Transforming the Electromagnetic Tracking Systems Market?
The burgeoning interest in virtual and augmented reality is projected to spur the expansion of the electromagnetic tracking systems market. These tracking systems are increasingly in demand due to their capability to provide accurate and real-time tracking in applications such as healthcare, robotics, and augmented reality. These systems play a pivotal role in virtual and augmented reality applications, enabling precise monitoring of the position and orientation of devices or sensors, resulting in enhanced real-time interactions and elevated user experiences. For instance, XR Today, a UK-based technology podcast company in the United States reported in February 2023, that the number of people owning a VR headset was approximately 57.4 million in 2020, but it is anticipated to add a further 37.7 million by 2022. Stefanini IT Solutions, a Brazil-based software firm further reported in January 2023, that there are approximately 1.4 billion AR users worldwide in 2023, and they predict it to surge to 1.73 billion by 2024. Consequently, the growing interest in virtual and augmented reality acts as a catalyst for the expansion of the electromagnetic tracking systems market.
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What Long-Term Trends Will Define the Future of the Electromagnetic Tracking Systems Market?
Prominent players in the electromagnetic tracking system market are currently working on the advancement of the OGx network. This is primarily geared towards enhancing their tracking capabilities by providing global coverage to Internet of Things (IoT) applications. Real-time tracking of assets in distant and inaccessible areas has been made possible by this specific satellite network, thus addressing the shortcomings of conventional cellular networks. Case in point, the US-based company ORBCOMM, renowned for its specialisation in satellite communication and IoT solutions, unveiled its premier native satellite tracker, SC 1000, for the upgraded OGx network in October 2024. The ground-breaking tracker can be set up within minutes, offering smart visibility and satellite tracking in a cost-effective, sleek and rugged solar-powered design, thereby making it the go-to choice for a wider array of satellite IoT applications.
Which Segments in the Electromagnetic Tracking Systems Market Offer the Most Profit Potential?
The electromagnetic tracking systems market covered in this report is segmented -
1) By Technology: Optical Navigation Systems, Electromagnetic (Em) Navigation Systems, Hybrid Navigation Systems, Fluoroscopy-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 Defense, Industrial Automation
Subsegments:
1) By Optical Navigation Systems: Infrared Optical Systems, Visible Light Optical Systems
2) By Electromagnetic (EM) Navigation Systems: Active EM Systems, Passive EM Systems
3) By Hybrid Navigation Systems: Combination Of Optical And EM Systems, Integration With Inertial Sensors
4) By Fluoroscopy-Based Navigation System: Real-Time Fluoroscopy Systems, 2D Or 3D Fluoroscopy Integration
5) By Other Technologies: Acoustic Navigation Systems, GPS-Based Systems, Inertial Navigation Systems
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Which Firms Dominate the Electromagnetic Tracking Systems Market by Market Share and Revenue in 2025?
Major companies operating in the electromagnetic tracking systems market report are 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
Which Regions Offer the Highest Growth Potential in the Electromagnetic Tracking Systems Market?
North America was the largest region in the electromagnetic tracking systems market in 2024. The regions covered in the electromagnetic tracking systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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