Market Size of Telemetric Devices Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
