Telemetry Market Overview Analysis By Fortune Business Insights Analysis
Market Size & Growth Outlook
According to Fortune Business Insights: The global telemetry market was valued at USD 116.85 billion in 2020 and is projected to grow from USD 120.66 billion in 2021 to USD 202.60 billion by 2028, exhibiting a CAGR of 7.68% during the 2021–2028 forecast period. North America dominated the market with a 37.1% share in 2020, with the U.S. market projected to reach an estimated USD 55.15 million by 2032, driven by growing development of satellite launch vehicles.
Telemetry involves sensing and measuring data at a remote source and transmitting that data to a central monitoring station, where it is used to monitor and regulate remote-site processes. Telemetry information is transmitted or received through wired links and used to monitor environmental conditions, with information gathering and subsequent sharing serving as core factors driving global market impact. The healthcare segment has seen increasing popularity, with Wireless Medical Telemetry Service (WMTS) gaining traction, while the market anticipates significant growth in automation, vehicle telematics, transportation, logistics, and retail segments — driven by rising smart device adoption with advanced technologies including Big Data and expanding cloud computing.
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Latest Trends
Growing Adoption of IoT and AI: Telemetry collects and receives real-time data from remote sensors or data collection systems, with advanced technology integration improving overall system performance. Growing IoT use improves battery life for connected devices and enables hardware miniaturization, with IoT telemetry devices including remote sensors requiring low power, low bandwidth, low-code footprint, and local IoT intelligent gateways. The convergence of artificial intelligence and IoT (AIoT) is expected to redefine industrial automation's future, impacting aerospace & defense, automotive, healthcare, supply chain, and manufacturing industries. In May 2021, Mindtree signed a contract to acquire NxT Digital Business — L&T Group's cloud-based IoT and AI platform for Industry 4.0 — to leverage its capabilities integrating telemetry data and sensors with advanced data analytics across the engineering and manufacturing value chain.
Driving Factors
Increasing Demand for Wireless Medical Telemetry Services (WMTS): Concerns over additional obstruction to medical telemetry systems grew significant as the analog-to-digital television transition began. To alleviate interference to wireless medical telemetry devices, the FCC established WMTS in 2002, allocating 14 MHz of spectrum for wireless medical telemetry across the 608–614, 1395–1400, and 1427–1432 MHz ranges. WMTS includes devices quantifying patients' vital signs and health parameters including respiration rates and pulse, transporting information via radio link to distant monitoring stations — with wireless cardiac monitors regularly used to screen post-procedure patients. According to the CDC, 800,000 deaths were reported due to cardiac disorders in the U.S. in 2017 — the leading cause of death nationally — driving increased demand for WMTS-enabled Mobile Cardiac Telemetry (MCT) devices.
Numerous Advantages Associated with Telemetry Systems: Telemetry represents an exceptionally progressed, automated communication system enabling data collection and measurement without physical presence, allowing real-time monitoring across oil & gas, energy & power, mining, marine & oceanography, and hydrography sectors where continuous human monitoring is impossible. The technology's greatest benefit is decreasing operational costs, since automatic data gathering and transmission from distant areas diminishes human resource requirements — substantially cutting organizational costs while reducing human intervention-related risks. Wireless telemetry systems find broad usage in disaster management, including measuring rising river water levels for flood control or wind speed on ocean barges, helping diminish or prevent natural disaster impacts. The systems additionally offer advantages including data collection from moving objects, data sharing, and security, with wireless systems reducing wiring, installation, and retrofit costs while easily accommodating new wireless instrument additions for expanding requirements.
Restraining Factors
Lack of Skilled Workforce and Stringent Frequency Band Regulation: While emerging economies witness major system adoption, other economies lack awareness of these systems' advantages alongside limited infrastructure investment, restricting market growth in undeveloped countries. Organizations are consulting training sessions to improve telemetry knowledge — in October 2020, the American Hospital Association hosted a webinar on improving telemetry services, focusing on utilization and alarm management, with Phillips and Huntsville Hospital System presenters sharing findings on enhancing patient care, reducing workload and nonactionable alarms, and supporting throughput.
Wireless telemetry systems use specific frequency bands for data transmission — including 608–614 MHz, 1395–1400 MHz, and 1427–1432 MHz, established by the FCC primarily for eligible wireless medical telemetry users under WMTS service rules. Ireland's Commission for Communication Regulation (ComReg) proposed introducing a new licensing scheme for scanning telemetry and telecontrol systems in VHF and UHF spectrum bands. Obtaining such licenses for system operation results in high initial investment, expected to create growth hindrances.
Segmentation Analysis
By Technology: Wire-link registered the largest share in 2020, attributed to extensive wired biomedical telemetry system usage in hospitals and widespread use in monitoring electric power plants. Wireless telemetry systems are witnessing the fastest-paced growth during the forecast period, driven by rising wireless system adoption in healthcare devices including cardiac monitors. In March 2020, the FCC established WMTS by allocating specific frequency bands exclusively for wireless medical telemetry.
By Component: Hardware — encompassing transmitters, receivers, encoders, modulators, antennas, and sensors (vehicle dynamic, load cell, GPS, position, pressure, and displacement sensors) — held the larger market share in the base year, driven by wide system adoption across agriculture, aerospace, oil & gas, healthcare, and other sectors. Software is expected to witness high growth opportunities during the forecast period, driven by growing IoT and AI technological advancements boosting demand for telemetry software and related services.
By Application: Oil & gas dominated the global market in 2020, owing to increasing demand for systems monitoring offshore rigs, with rising safety concerns driving increased gas leak detection system demand. Hydrography is anticipated to grow at the highest CAGR during 2021–2028, driven by growing government funding for water treatment plant installations and wastewater management systems. Aerospace and defense is anticipated to grow at a significant CAGR, driven by growing telemetry integration in aircraft engines, missiles, airborne systems, and other components for remote performance monitoring and control.
Regional Insights
North America stood at USD 43.35 billion in 2020 and was expected to dominate the market, driven by highest regional drug use alongside growing demand for smart mobility, connected cars, and smart energy meters across the U.S. and Canada. Rising government initiatives integrating telemetry into defense systems were anticipated to further boost regional market growth.
Asia Pacific is anticipated to grow at the highest CAGR during the forecast period, driven by rising government funding for reservoir monitoring systems, wastewater treatment systems, and wireless telemetry infrastructure development across emerging countries including China, India, and Japan.
Europe registered a significant market share in 2020, with growth attributed to growing healthcare services demand.
Rest of the World was expected to witness moderate growth during the projection period, attributed to the region's largest oil and gas industry and developing automotive industry — with over 2 million commercial and passenger vehicles sold across the Middle East & Africa in 2019.
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Competitive Landscape
Leading players maintain market positions through constant R&D investment, long-term government and authorized body contracts, and strong focus on developing new technology-based systems including cloud computing-enabled and IoT-enabled industrial systems. Key players are focusing on technological collaborations and in-house research to design modern telemetry systems enhancing application capabilities. Key companies profiled include AstroNova Inc. (U.S.), Cobham Limited (U.K.), General Electric Company (U.S.), Honeywell International Inc. (U.S.), International Business Machines Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), L3Harris Technologies Inc. (U.S.), Rogers Communications Inc. (Canada), Schneider Electric SE (France), and Siemens AG (Germany).
Key recent developments include L3Harris Technologies' August 2021 selection by NASA's Jet Propulsion Laboratory to facilitate the Universal Space Transponder (UST) for the Mars Sample Return program, enabling transmission of video, data, audio, and telemetry information to and from Earth while relaying information between Mars-deployed spacecraft; Cobham Advanced Electronics Solutions' March 2021 U.S. Government contract award to develop advanced antenna technology for hypersonic applications; and Rogers Communications' June 2020 partnership with the City of Calgary on a Wireless Infrastructure Development Program providing connected environment solutions for residential, commercial, and industrial applications.
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