North America Electromagnetic Tracking Systems Market, By Product Type (ENT Tracking Systems, Orthopedics Tracking Systems, Neuronavigation Tracking Systems, Cardiac Tracking Systems, Electrophysiology Tracking Systems, Dental Tracking Systems and Others), Technology (Optical Navigation Systems, Electromagnetic (EM) Navigation Systems, Hybrid Navigation Systems, Fluroscopy Based Navigation Systems and Others), Connectivity (Wired Systems and Wireless Systems), Maneuverability (6-DOF, 5-DOF and Others), End User (Healthcare Facilities, Military And Defense, Industrial Automation and Others), Application (ENT Tracking Systems, Orthopedics Tracking Systems, Neuronavigation Tracking Systems, Cardiac Tracking Systems, Electrophysiology Tracking Systems, Dental Tracking Systems and Others), Distribution Channel (Direct Tender, Retail Sales and Online Sales) - Industry Trends and Forecast to 2030.
North America Electromagnetic Tracking Systems Market Analysis and Insights
Electromagnetic tracking systems are widely used in aerospace and defense for navigation, targeting, and guidance. Only through informed EMBM and highly interoperable (cooperative and complementary) electromagnetic tracking systems can achieve this level of EMS superiority in defense. Thus, the growing use of electromagnetic tracking in aerospace and defense is expected to act as a driver for the North America electromagnetic tracking systems market. The adoption of advanced technologies was powered by the growing need to reduce the operational costs and increase profitability and offer enhanced patient care services. The emergence of the wireless connectivity and latest technologies like internet of things (IoT) and artificial intelligence (AI) are expected to rapidly boost the growth of the North America electromagnetic tracking systems market.
Data Bridge Market Research analyzes that the electromagnetic tracking systems market is expected to reach the value of USD 886.76 million by 2030, at a CAGR of 10.6% during the forecast period. Product type accounts for the largest segment in the market due to growing use of electromagnetic tracking in aerospace and defense.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2020-2015)
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Quantitative Units
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Revenue in Million, Pricing in USD
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Segments Covered
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By Product Type (ENT Tracking Systems, Orthopedics Tracking Systems, Neuronavigation Tracking Systems, Cardiac Tracking Systems, Electrophysiology Tracking Systems, Dental Tracking Systems and Others), Technology (Optical Navigation Systems, Electromagnetic (EM) Navigation Systems, Hybrid Navigation Systems, Fluroscopy Based Navigation Systems and Others), Connectivity (Wired Systems and Wireless Systems), Maneuverability (6-DOF, 5-DOF and Others), End User (Healthcare Facilities, Military And Defense, Industrial Automation and Others), Application (ENT Tracking Systems, Orthopedics Tracking Systems, Neuronavigation Tracking Systems, Cardiac Tracking Systems, Electrophysiology Tracking Systems, Dental Tracking Systems and Others), Distribution Channel (Direct Tender, Retail Sales and Online Sales)
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Countries Covered
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U.S., Canada, Mexico.
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Market Players Covered
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TT Electronics, Northern Digital Inc, Amfitech ApS, Radwave Technologies Inc., Ommo Technologies, Polhemus, Stryker, Medtronic, Heal Force, Augmedics , Orthalign, Koninklijke Philips N.V. among others.
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Electromagnetic Tracking Systems Market Definition
Electromagnetic tracking devices are often used to track the location and orientation of a user in a virtual reality environment. Recently, video games supported by VR tools are more popular than before. It is used as valuables, work-related tools for neuroscientists, psychologists, biologists, and other researchers. Moreover, it can be used in one of the main research purposes lies from navigation studies that include complex experiments VR. These tracking systems are offering the surgeons highly advanced image guidance and visualization capabilities in a single system which help to perform a minimally invasive, accurate and selective surgery. The tracking systems are widely used in military and defence for navigation, targeting, and guidance.
Electromagnetic Tracking Systems Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Rise In Demand For Virtual And Augmented Reality Technology
Immersive experiences driven by motion tracking systems for virtual and augmented reality are becoming more popular now days. Thus, with this growing trend, several kind of technologies to develop these systems are emerging, one of most popular of those are called electromagnetic motion tracking which allows a moving object to be followed as well as processing of after transfer the data to be gathered.
Electromagnetic tracking devices are often used to track location and orientation of a user in a virtual reality environment. However, the precision depends on the local electromagnetic field and which can be easily altered by many external factors.
- Growing Use Of Electromagnetic Tracking In Aerospace And Defense
Electromagnetic tracking -based wireless communication is used for communication between underwater and terrestrial bodies. It can be used for communication between a diver, deeply merged submarine, and the ship on the surface of the water. These, electromagnetic tracking waves can operate from 100 hertz (Hz) to 10 megahertz (MHz) and more efficient in the short-range. The electromagnetic waves can cross water or the sea bed easily. Moreover, the underwater communication cannot be hindered by limitations such as a line of sight, scattering, dispersion, and sunlight.
Networked, adaptive, and distributed, both traditional and non-traditional sensors will provide the integrated data, enabled by machine learning and assured EMS distribution to the warfighter in aerospace field. It is required to implement disruptive EW and ensure joint lethality. Operational forces must also be capable of sharing electromagnetic tracking data to and from the Defense Intelligence Enterprise (DIE) at machine speed.
Opportunity
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Increasing Application Of Electromagnetic Tracking Systems In Healthcare
Real-time tracking of surgical instruments has become an integral part of computer-assisted surgery; it provides guidance to surgeons in complex procedures. As a result, EM tracking is promising for demanding clinical applications such as endoscopy, orthopedic, and laparoscopic surgeries.
Electromagnetic (EM) tracking solutions work by generating a defined EM field in which EM micro-sensors are tracked. It’s the small size of these sensors, and how they can be used in minimally invasive approaches that have helped medical device OEMs transform image-guided surgery and interventional procedures over the past decade.
Furthermore, the method is designed for experienced staff, rotating staff in larger clinics, and personnel-in-training. It is used to treat cancer and other conditions pose the risk of side effects, which can vary based on the treatment modality and part of the body being treated. Thus, increasing application of electromagnetic tracking systems in healthcare act as a potential opportunity for growth in the North America electromagnetic tracking systems market.
Restraint/ Challenge
- Strict Regulatory Frameworks
Regulation of medical devices plays a significant role in healthcare. Achieving the requisite approval for legal selling of medical devices in such jurisdictions can entail significant financial expenditure, which could take months or years to complete. If these constraints are not understood or taken into account, delays can seriously jeopardize the likelihood of success in a highly competitive market. These electromagnetic tracking systems are increasingly used in various surgeries such as minimally invasive surgeries; assistive surgeries are of significant importance for the treatment of various diseases. But their approval and marketing in various regions across different regions require a meeting of stringent regulatory standards and approvals by various regulatory bodies.
Electromagnetic tracking systems is increasingly being implemented in many developing countries. Moreover, the Department of Defense (DOD) uses electromagnetic radiation which provide the military communications, navigation, radar, nonintrusive inspection of aircraft, and other equipment. Therefore, it is the need of the hour because it improves communication quality. Technologies can introduce some hazards; hence safety of information in the system is crucial. Therefore, the stringent regulatory frameworks for in different regions are expected to act as challenge for the North America electromagnetic tracking systems market’s growth.
- High Cost Of Systems
The price of the system depends heavily on the technology and, as usual, the best cost able to cover the needs of the application is also advisable. The product developed by manufacturers offer a competitive price because the manufacturing cost of the sensor and the transmitter is very low. Moreover, optics and cameras are usually very expensive in visual systems. Also, these systems are more expensive due to the cost of sensors and processing units is higher than the ones used in EM tracking systems.
This high cost can be satisfied with the only limited wealthy individual. As a result, it is one of the major challenges faced in the market.
Recent Developments
- In September 2022, TT Electronics has announced the launch of TFHP Series thin film high power chip resistors. TFHP series thin film high power chip resistors are optimized for precision power supply, power amplifier, and process control applications, which all benefit from the enhanced heat transfer from element to terminals of this specialist design. This results in enhancing the product portfolio of the company.
- In February 2022, TT Electronics announced that the company has extended its partnership and made an investment in Radwave Technologies Inc. This helps to bring an accurate, reliable, and customizable electromagnetic (EM) tracking platform to the surgical navigation market. This results in the expansion of the strategic partnership and provide Radwave with advanced manufacturing capability for its next-generation systems under an exclusive five-year contract.
Electromagnetic Tracking Systems Market Scope
The electromagnetic tracking systems market is segmented into seven notable segments which are based on product type, technology, connectivity, maneuverability, end user, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
NORTH AMERICA ELECTROMAGNETIC TRACKING SYSTEMS MARKET, BY PRODUCT TYPE
- ENT TRACKING SYSTEMS
- ORTHOPEDICS TRACKING SYSTEMS
- NEURONAVIGATION TRACKING SYSTEMS
- CARDIAC TRACKING SYSTEMS
- ELECTROPHYSIOLOGY TRACKING SYSTEMS
- DENTAL TRACKING SYSTEMS
- OTHERS
On the basis of product type, the electromagnetic tracking systems market is segmented into ENT tracking systems, orthopedics tracking systems, neuronavigation tracking systems, cardiac tracking systems, electrophysiology tracking systems, dental tracking systems and others.
NORTH AMERICA ELECTROMAGNETIC TRACKING SYSTEMS MARKET, BY TECHNOLOGY
- OPTICAL NAVIGATION SYSTEMS
- ELECTROMAGNETIC (EM) NAVIGATION SYSTEMS
- HYBRID NAVIGATION SYSTEMS
- FLUROSCOPY BASED NAVIGATION SYSTEM
- OTHERS
On the basis of technology, the electromagnetic tracking systems market is segmented into optical navigation systems, electromagnetic (EM) navigation systems, hybrid navigation systems, fluroscopy based navigation system and others.
NORTH AMERICA ELECTROMAGNETIC TRACKING SYSTEMS MARKET, BY CONNECTIVITY
- WIRED SYSTEM
- WIRELESS SYSTEM
On the basis of connectivity, the electromagnetic tracking systems market is segmented into wired systems and wireless systems.
NORTH AMERICA ELECTROMAGNETIC TRACKING SYSTEMS MARKET, BY MANEUVERABILITY
- 6-DOF
- 5-DOF
- Others
On the basis of maneuverability, the electromagnetic tracking systems market is segmented into 6-DOF, 5-DOF and others.
NORTH AMERICA ELECTROMAGNETIC TRACKING SYSTEMS MARKET, BY END USER
- HEALTHCARE FACILITIES
- MILITARY AND DEFENCE
- INDUSTRIAL AUTOMATION
- OTHERS
On the basis of end user, the electromagnetic tracking systems market is segmented into healthcare facilities, military and defence, industrial automation and others.
NORTH AMERICA ELECTROMAGNETIC TRACKING SYSTEMS MARKET, BY APPLICATION
- ORTHOPEDIC TRACKING SYSTEM
- ENT TRACKING SYSTEM
- CARDIAC TRACKING SYSTEMS
- ELECTROPHYSIOLOGY TRACKING SYSTEMS
- NEURONAVIGATION TRACKING SYSTEMS
- DENTAL TRACKING SYSTEMS
- OTHER SYSTEMS
On the basis of application, the electromagnetic tracking systems market is segmented into ENT tracking systems, orthopedics tracking systems, neuronavigation tracking systems, cardiac tracking systems, electrophysiology tracking systems, dental tracking systems and others.
NORTH AMERICA ELECTROMAGNETIC TRACKING SYSTEMS MARKET, BY DISTRIBUTION CHANNEL
- DIRECT TENDER
- RETAIL SALES
- ONLINE SALES
On the basis of distribution channel, the electromagnetic tracking systems market is segmented into direct tender, retail sales and online sales.
Electromagnetic Tracking Systems Market Regional Analysis/Insights
The electromagnetic tracking systems market is segmented into seven notable segments which are based on product type, technology, connectivity, maneuverability, end user, application and distribution channel.
The countries covered in this market report U.S., Canada, Mexico.
North America is expected to dominate the market due to a rise in demand for virtual and augmented reality technology. Moreover, the rise in diagnosis and treatment is also boosting the market growth across the region. The U.S. dominates North America region due to strong presence of key players.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, and impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Electromagnetic Tracking Systems Market Share Analysis
The electromagnetic tracking systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breath, application dominance, product type lifeline curve. The above data points provided are only related to the company’s focus on the electromagnetic tracking systems market.
Some of the major players operating in the market are TT Electronics, Northern Digital Inc, Amfitech ApS, Radwave Technologies Inc., Ommo Technologies, Polhemus, Stryker, Medtronic, Heal Force, Augmedics , Orthalign, Koninklijke Philips N.V. among others.
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