by Market Overview:
Telemetry refers to the automated communication of measurements and data from remote or inaccessible sources to IT systems for monitoring and analysis. It finds applications in healthcare, transportation, industrial equipment monitoring, and weather monitoring among others. In the healthcare sector, telemetry systems help transmit vital patient health data like ECG, blood pressure, and pulse from ambulances or other locations to hospitals.
Market Dynamics:
The growth of the global telemetry market is driven by increasing demand for remote equipment monitoring and wireless networking technologies. Rapid industrialization and growing focus on equipment performance monitoring has boosted the adoption of telemetry systems across sectors. Moreover, development of advanced IoT and wireless technologies like LPWAN has enabled scalable and cost-effective monitoring of remote assets and machinery. This has encouraged industries to deploy telemetry for predictive maintenance and uptime improvement. Further, growth in medical telemetry for real-time health monitoring of patients has also supported market expansion. However, data privacy and security concerns around wireless telemetry networks may hamper market growth over the forecast period.
Segment Analysis
The Global Telemetry Market is segmented into Wireless Telemetry and Wired Telemetry. The Wireless Telemetry is further segmented into WAN, LAN, and Others. The Wired Telemetry is further segmented into PLC, Fiber Optic and Others. The Wireless Telemetry dominates the market with over 60% share due to the increasing demand for real-time data transmission and improvements in connectivity solutions.
PEST Analysis
Political: Government regulations around data privacy and security are increasing which impact the telemetry market.
Economic: Rising investments in fields like healthcare, automotive are driving the global telemetry market growth.
Social: Adoption of IoT solutions across industries is facilitating the demand for remote monitoring via telemetry.
Technological: Developments in cloud computing, AI and 5G networks are supporting high growth in wireless telemetry.
Key Takeaways
The global Telemetry Market Size is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing adoption of IoT across verticals. The market size for 2023 is US$ 150.51 Bn.
Regional analysis: North America dominates over 40% market share due increasing investments in healthcare sector. Asia Pacific is the fastest growing region due to presence of large manufacturing hubs in countries like China and India.
Key players operating in the Telemetry market are Honeywell International Inc., Siemens AG, General Electric Company, and Schneider Electric SE. Honeywell dominates over 15% of the market share due to its diversified product portfolio for wireless telemetry systems. GE Healthcare offers telemetry solutions targeting cardiac diagnostics and has major presence in US. Siemens provides integrated telemetry solutions for automation industry. Schneider focuses on telemetry for power utilities and offers cloud-based solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
