The Global Telemetry Market is set to gain impetus from the rising need for subsequent sharing and gathering of vital information. Fortune Business Insights™ mentioned this in an upcoming report, titled, “Telemetry Market Size, Share & Industry Analysis, By Technology (Wire-Link, Wireless telemetry systems, Data Loggers), By Application (Healthcare, Energy and Power, Vehicle telemetry, Retail telemetry), By Components (Telemetry Transmitter, Telemetry Receiver, Encoder), By Sensors (Vehicle dynamics sensors, Load cell sensors, GPS sensors, Pressure sensors) and Regional Forecast, 2019-2026.” The report further states that the telemetry information is received or transferred through a wire link. It is utilized extensively to observe various environmental conditions.
The emergence of the COVID-19 pandemic has caused severe disruptions in supply chains of various industries. China, being the major hub for components and equipment required for a variety of applications, is under complete lockdown. Hence, companies are halting their manufacturing processes and facing immense economic losses. We are offering in-depth analysis of the effects of this pandemic on every market. Our analysts have used multiple methodologies to develop these curated reports.
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This Report Answers the Following Questions:
- How will the companies surge sales of telemetry systems amid COVID-19?
- Which segment and region would dominate the market in the near future?
- What are the market drivers, obstacles, challenges, dynamics, and opportunities?
- What are the current, historical, and estimated sizes of the global market?
Drivers & Restraints-
Increasing Demand from Healthcare Sector to Augment Growth
The high demand for telemetry services from the healthcare sector worldwide is set to drive the telemetry market growth in the coming years. Coupled with this, the rising popularity of wireless medical telemetry service (WMTS) would also contribute to the growth. Apart from this, the increasing applications of telemetry services in retail, vehicles (telematics, transportation, and logistics), and the automation segments would aid growth. Lastly, the increasing adoption of smart devices equipped with the latest technologies, such as cloud computing and big data would propel growth. However, the unavailability of skilled workforce and the implementation of stringent laws by the regulatory bodies may hamper growth.
North America to Remain at Forefront Owing to Favorable Government Initiatives
Geographically, North America is projected to generate the largest telemetry market share in the near future. This growth is attributable to the rising demand for telemetry in connected car concepts and the presence of favorable government initiatives in this region. Besides, the increasing research and development activities, as well as the usage of smart sensors and smart meters for energy utilization would affect the market growth in this region positively.
On the other hand, Asia Pacific is expected to grow steadily throughout the forthcoming years because of the increasing initiatives by the governments of several countries to develop telemetry infrastructure. Also, the rising disposable incomes of people are likely to aid growth. In Europe, the presence of numerous prominent organizations, such as Siemens, Schneider Electric, and Cobham Limited would bolster growth. Lastly, Latin America and the Middle East and Africa are anticipated to surge significantly backed by the usage of innovative technologies.
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Bagging of Noteworthy Contracts — A Strategy of Key Companies
The market consists of a large number of enterprises. Presently, they are looking forward to bagging new contracts from reputed organizations worldwide. It is not only helping them to deliver their in-house products, but also strengthening their positions. Below are two latest industry developments:
- February 2020: Yorkshire Water awards a new contract worth USD 6.64 million to HWM Water Ltd. for the provision of telemetry real-time services.
- October 2019: The U.S. Army provided a five-year contract worth USD 21.7 million to Quasonix LLC for delivering telemetry transmitters.
Fortune Business Insights™ presents a list of all the renowned telemetry companies present in the global market. They are as follows:
- Siemens (Germany)
- GENERAL ELECTRIC COMPANY (The U.S.)
- AstroNova, Inc. (The U.S.)
- Koninklijke Philips N.V. (Netherlands)
- IBM (The U.S.)
- Cobham Limited (The U.K)
- Honeywell International Inc. (The U.S.)
- L-3 Communications Holdings Inc. (The U.S.)
- Schneider Electric (France)
- Rogers Communications (Canada)
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