(MENAFN- GlobeNewsWire - Nasdaq) The land survey equipment market is expected to reach US$ 12.56 billion by 2028 from US$ 8.06 billion in 2022 to grow at a CAGR of 7.7% from 2022 to 2028.
US & Canada, Sept. 09, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the increasing demand for land survey equipment in construction, renewable energy, mining, oil & gas, forestry, precision farming, disaster management, and transportation industries, as well as in scientific and geological research and utilities, drives the market.
Global Land Survey Equipment Market Experiences Significant Growth Due To Rising Development In Real Estate
The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Land Survey Equipment market comprises a vast array of hardware, solution, industry and application which are expected to register strength during the coming years.
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Overview of Report Findings:
1. Market Growth: The Land Survey Equipment market is expected to reach US$ 12,568.4 million by 2031 from US$ 8,068.0 million in 2022, at a CAGR of 7.7% during the forecast period. The governments in developing countries are planning smart city projects that need to be surveyed and inspected thoroughly before beginning the construction process. Therefore, increasing initiatives for smart city development are driving the need for land survey equipment.
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2. Technological Innovations: The increasing demand for land survey equipment in construction, renewable energy, mining, oil & gas, forestry, precision farming, disaster management, and transportation industries, as well as in scientific and geological research and utilities, drives the market
3. Drone Technology Usage: Drones are the most popular land surveying equipment that can improve the efficiency and flexibility of field surveys, particularly topographic surveys, through aerial photography and mapping by capturing data via video and GNSS.
4. Digitalization: Digitalization in land surveying helps in precise measurements with high efficiency and data integration at lower land survey costs. Distances and angles can be measured precisely and quickly, and the data can be combined using software to construct a number of land surveys.
5. Geographical Insights: APAC dominated the land survey equipment market in 2023. Europe is the second-largest contributor to the global land survey equipment market, followed by North America, Middle East, South America, Africa, and CIS.
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Market Segmentation:
Based on solution, the land survey equipment market is segmented into hardware, software, and services. The hardware segment accounted for the largest share of the market in 2023. Major end-use industries of land survey equipment are mining, construction, agriculture, oil & gas, transportation, scientific and geological research, disaster management, and energy & power. The construction segment led the land survey equipment market with the largest market share in 2023. In terms of application, the land survey equipment market is segmented into volumetric calculation, inspection, layout points, monitoring, and others. The others segment includes scanning and mobile mapping. The inspection segment led the market in 2023 with the largest share. The land survey equipment market for hardware is further segmented into GNSS systems, levels, 3D laser scanners, total stations, theodolites, unmanned aerial vehicles, machine control systems, machine guidance systems, and others. The GNSS systems accounted for the largest market share in 2023.
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Competitive Strategy and Development:
Key Players: A few major companies operating in the Land Survey Equipment market include Hexagon AB; GUANGDONG KOLIDA INSTRUMENT CO., LTD.; Shanghai Huace Navigation Technology Ltd.; South Surveying & Mapping Technology CO., LTD.; Topcon Corporation; Trimble Inc.; Hi-Target; PENTAX Surveying; Suzhou FOIF Co., Ltd.; and Robert Bosch Tool Corporation. Trending Topics: Machine Control System, 3D Laser Scanners, GNSS Systems, Unmanned Aerial Vehicles, Machine Guidance System and Others.
Global Headlines on Land Survey Equipment:
“GUANGDONG KOLIDA INSTRUMENT CO., LTD. announced the delivery of 59 units of KTS-472R10 Windows Total Stations to Technical Education & Vocational Training Authority (TEVTA) in Lahore, Pakistan " " South Surveying & Mapping Technology CO., LTD. delivered 200 sets of Total Station NTS-332RU to the Department of Lands Thailand " " Shanghai Huace Navigation Technology Ltd. launched the HCE600 rugged field controller "
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Conclusion:
The rising urbanization and industrialization in developing countries is a key factor fueling the growth of the land survey equipment market. The governments in developing countries such as India, Peru, and China are planning different smart city projects, which would need surveying and inspection activities before the actual construction process. Further, major cities in the US, India, and China are rapidly expanding, and several new infrastructures are being constructed in different parts of these countries. Several plans for the development of smart cities are rolled out, and land survey equipment plays a critical role in surveying development sites in the planning stage.
The report from The Insight Partners, therefore, provides several stakeholders-including component providers, system integrator, system manufacturers and others-with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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