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Telemetric Devices Market Size (2024 - 2029)

The telemetric devices market is experiencing significant growth driven by the expanding use of connected devices and the increasing demand for wearable technology that monitors biological vitals. This market expansion is further supported by the growing applications of telemetric devices beyond traditional hospital settings, as they are increasingly integrated into home automation and healthcare through IoT innovations. The miniaturization of technology is enhancing the functionality and accessibility of these devices, contributing to their rising market size.

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Market Size of Telemetric Devices Industry

Telemetric Devices Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 16.20 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Telemetric Devices Market Key Players

*Disclaimer: Major Players sorted in no particular order

Telemetric Devices Market Analysis

The Telemetric Devices Market is recording a CAGR of 16.2%, over the forecast period (2021 - 2026). With the growth of connected devices across the globe, the healthcare industry's vital monitoring applications, and growing demand for wearable devices which monitor biological vitals are driving the market for telemetric devices. The increasing scope of applications of these devices is another factor contributing to the demand of telemetric devices.

  • The increasing trend of health consciousness & technology miniaturization is taking the application of telemetric devices from hospital vital monitors to wearable devices which collect data such as ECG, oxygen and other vital signs. According to Cisco Systems, the number of connected wearable devices worldwide is expected to reach 1,105 million devices by 2022.
  • The features such as automated sensing, measurement of data, and control of remote devices are the direct reason for the growing applications of telemetric devices in home automation. According to the Advanced Energy Economy report, revenue of the advanced metering infrastructure market worldwide during fiscal 2018 stood at USD 13.07 billion.
  • The influence of IoT devices in the healthcare industry is one of the factors which is driving the demand for telemetric devices. According to ETNO, the number of IoT active connections in healthcare in the European Union is expected to reach 10.34 million by 2025.
  • The increasing innovation in technology is driving the market and miniaturizing the devices even further. Philips has developed a product named VitalSense, which is a telemetric physiological monitoring system that enables continuous monitoring of core body temperature, dermal temperature, and heart & respiration rate all of this without any wires or probes.

Telemetric Devices Industry Segmentation

With the growing requirement of remote monitoring, the applications of telemetric devices have become ample. These devices are used for measuring and collecting data via wireless transmission from remote sources. The devices have applications in various end-user verticles such as connected devices, healthcare, industrial, oil & gas, and many more.

By End-User Vertical
Healthcare
Industrial
Oil & Gas
Aerospace & Defense
Other End-User Verticals
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
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Telemetric Devices Market Size Summary

The telemetric devices market is experiencing significant growth, driven by the increasing prevalence of connected devices and the expanding applications in healthcare and home automation. The demand for wearable devices that monitor biological vitals is particularly strong, as health consciousness and technology miniaturization trends push the boundaries of these devices from hospital settings to personal use. The integration of IoT technology in healthcare is further propelling the market, with innovations like Philips' VitalSense system exemplifying the advancements in continuous, wire-free monitoring of vital signs. The global healthcare industry's expansion, coupled with substantial investments in medical devices and telemedicine, is a key factor in the market's growth, with major players like General Electric Healthcare and Fitbit capitalizing on these trends.

Regions such as North America, with its high healthcare expenditure, are leading the demand for telemetric devices, supported by a robust medical device market in countries like Canada. The Asia-Pacific region is poised for the highest growth, driven by rapidly developing economies such as China and India, offering lucrative opportunities for market expansion. The market is becoming increasingly consolidated, with large vendors investing heavily in research and development to innovate and miniaturize products. Companies like Siemens AG, GE Healthcare, and Philips Healthcare are at the forefront of this transformation, shaping the future landscape of the telemetric devices market.

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Telemetric Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Introduction to Market Drivers

    3. 1.3 Market Drivers

      1. 1.3.1 Increasing Adoption of Healthcare and Wearable Devices

      2. 1.3.2 Increasing Scope of Applications

    4. 1.4 Market Restraints

      1. 1.4.1 High Initial Costs & Investment Requisite

      2. 1.4.2 Data Privacy & Security Concerns

    5. 1.5 Technology Snapshot

    6. 1.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Buyers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End-User Vertical

      1. 2.1.1 Healthcare

      2. 2.1.2 Industrial

      3. 2.1.3 Oil & Gas

      4. 2.1.4 Aerospace & Defense

      5. 2.1.5 Other End-User Verticals

    2. 2.2 Geography

      1. 2.2.1 North America

      2. 2.2.2 Europe

      3. 2.2.3 Asia-Pacific

      4. 2.2.4 Latin America

      5. 2.2.5 Middle East and Africa

Telemetric Devices Market Size FAQs

The Telemetric Devices Market is projected to register a CAGR of 16.20% during the forecast period (2024-2029)

Siemens AG, GE Healthcare, Philips Healthcare, Schlumberger Limited. and Schneider Electric are the major companies operating in the Telemetric Devices Market.

Telemetric Devices Market Report Snapshots

Telemetric Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)