(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Total Station Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Total Station Market products.
Kenneth Research, in its repository of market research reports, have recently added a report on Total Station Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2025. The Total Station Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2025.
Kenneth Research has published a detailed report on Total Station Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
Global Total Station Market
By Type (Robotic, Manual), Component (Software, Hardware), Application (Oil & Gas, Mining, Agriculture, Construction, Transportation, Utilities), and Regional Market Size, Status and Forecast to 2025
Market Overview:
The Global Total Station Market was valued at USD 1.43 billion in 2016 and is projected to reach USD 2.53 billion by 2025, growing at a CAGR of 6.53% from 2017 to 2025.
A total station is an electronic or optical instrument used for surveying and building construction. The instrument is used to measure sloping distance of object to the instrument, horizontal angles and vertical angles. Key advantages of this system includes – quick setting of the instrument, local language support, full GIS creation, automation of old maps, greater accuracy, integration of data base and high scalability.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Enhancement in accuracy and improvement in performance
1.2 Integration of terrestrial laser scanners
1.3 Rising demand for fast and precise measurement in rail application
1.4 Increasing need for modernized construction plan
1.5 Usage of 3D modelling in surveying technology
2. Market Restraints
2.1 Lack of knowledge on latest instruments
2.2 High cost associated with the device
2.3 Environmental conditions affecting the measurement
Market Segmentation:
The Global Total Station Market is segmented on the type, component, application, and region.
1. Type:
1.1 Robotic
1.2 Manual
2. By Component:
2.1 Software
2.2 Hardware
3. By Application:
3.1 Oil & Gas
3.2 Mining
3.3 Agriculture
3.4 Construction
3.5 Transportation
3.6 Utilities
3.7 Others
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Topcon Corporation
2. Stonex
3. Hi-Target Surveying Instrument Co., Ltd
4. Changzhou Dadi Surveying Science & Technology Co., Ltd.
5. Hexagon AB.
6. Trimble Inc.
7. Suzhou FOIF Co. Ltd.
8. South Surveying & Mapping Instruments Co. Ltd.
9. CST/Berger
10. Guangdong Kolida Instrument Co., Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Total Station Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products' demand, growth and opportunities for new and existing players.
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