The growing trend of connected devices across several industrial verticals is a key factor driving the growth of the global market. 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. This is further driving the growth of the global market.
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The global telemetric devices market is segmented based on component and application. Based on the component, the market is bifurcated into hardware and software. Based on application, the market is sub-segmented into healthcare, aerospace & defense, consumer electronics, logistics & transportation, energy & power, oil & gas, and other application. Among the applications, The growing demand for connected devices across the healthcare industry along with growing healthcare industry is a key factor contributing to the high share of this market segment. The rapidly growing penetration of smartphones, growing internet penetration, rising demand for remote patient monitoring, fueling the growth of telemetric devices in healthcare sector. According to the International Telecommunication Union (ITU) estimation, approximately 5.4 billion people or 67% of the world’s population are using the Internet in 2023. This represents an increase of 45% since 2018, with 1.7 billion people estimated to have come online during that period. According to the Mobile Economy 2022, there will be nearly 7.5 billion smartphone connections by 2025, accounting for over four in five mobile connections. Moreover, penetration of smartphones and growing internet penetration is accelerating the demand for telemetric devices in healthcare sector.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Telemetric Devices Market Report Segment
By Component
- Hardware
- Software
By Application
- Healthcare
- Aerospace & Defense
- Consumer Electronics
- Logistics & Transportation
- Energy & Power
- Oil & Gas
- Others (Hydrography)
Global Telemetric Devices Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global telemetric devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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