(MENAFN- GlobeNewsWire - Nasdaq) Continuous Development in Infrastructure Worldwide Propelling the Demand for Land Survey Equipment System
Rockville, MD , Nov. 12, 2024 (GLOBE NEWSWIRE) -- The Land Survey Equipment System market is anticipated to grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2034, from a projected valuation of US$ 8,523.2 million in 2024 to US$ 13,363.4 million by 2034.
The land survey equipment system market is expected to grow at a steady pace, driven by the increase in infrastructure projects, advancements in GPS and GNSS technology, and increased demand for mining and construction sectors. Improved productivity will be achieved in areas related to energy, agriculture, and disaster management through the rapid adoption of new tools such as UAVs and 3D laser scanners with AI incorporation for analytic processing. The autonomous land survey systems and technology advancement, including AI-driven geospatial analytics, are gaining momentum and hence will boost market demand.
The government initiatives, such as the Bipartisan Infrastructure Law in the U.S., are also pumping in enough money for construction, utility, and energy investments while fuelling demand for land surveying equipment. Demand for high-tech surveying equipment in the Chinese market is being fuelled by its aggressive rate of urbanization as well as infrastructure construction, both boosted by initiatives such as the Belt and Road. However, the lack of skilled labour and difficult climatic conditions are two of the factors hindering further growth for this market. However, the integration of GNSS, UAV, and other advanced technologies makes land survey equipment still important for satisfying the demands for the development of infrastructure in both countries.
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Key Takeaways from the Market Study:
During 2024-2034, the market will expand with a CAGR of 4.6% Among regions, East Asia exhibits the fastest growth with a CAGR of 5.8% Hardware holds about 65.2% of the share in the solution segment. In the end-use industry segment, mining & construction holds about 33.1% of the market in 2024. The global land survey equipment system market growth was about 3.8% during the historic period (2019-2023).
“ Technological Advancement in Land Survey Equipment is Major Factor Propelling the Industry Growth ,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Land Survey Equipment System Market:
Beijing UniStrong Science & Technology Co., Ltd.; Carlson Software; CHC Navigation; Emlid Ltd; Faro Technologies; Geo-Fennel; GeoMax; Guangdong Kolida Instrument Co., Ltd.; Hemisphere GNSS; Hexagon AB; Hi-Target Surveying Instrument Co., Ltd.; JAVAD GNSS; Kolida Instrument Co., Ltd.; Leica Geosystems; Nedo; Nikon-Trimble; Pentax; Satlab Geosolutions AB.; SECO (Surveying & Engineering Company of Oregon); Shanghai Huace Navigation Technology Ltd.; Sokkia; South Surveying & Mapping Instrument Co., Ltd.; Spectra Precision; Stonex; Suzhou FOIF Co., Ltd.; Theis Feinwerktechnik; Tianjin Xing Ou Surveying Instrument Manufacture; Topcon; Trimble Navigation Ltd.; u-Blox Holding AG; Other Competitors
Market Growth Stratagems:
Recent developments in land survey equipment systems highlight a trend towards increased accuracy and efficiency. Innovations like the high-speed robotic total station and versatile GNSS receivers reflect a growing demand for advanced technology that enhances data collection and processing in surveying, supporting faster project execution and improved measurement precision.
In March 2023, The US-based Stonex Company launched its new R180 Robotic Total Station back. This fast and accurate Android robotic station offers a rotational speed of 180°/sec and an EDM accuracy of 1 mm + 1 ppm, ranging to 1000m. In March 2022, Shanghai Huace Navigation Technology Ltd. introduced the i83 IMU-RTK GNSS Receiver. The i83 is the most universal GNSS system used for surveying construction projects.
Land Survey Equipment System Market Industry News:
In August 2023, Hexagon AB announced its new Leica BLK2FLY Indoor scanning for comprehensive digital twin creation. The upgraded BLK2FLY brings unprecedented freedom; allowing structures to be hassle-free scanned indoors and outdoors. The new feature unlocks the BLK2FLY to operate in a variety of environments, even GNSS-deprived areas such as nuclear facilities. The system, based on the company's cutting-edge visual SLAM technology, can achieve real-time spherical imaging with an operational range of up to 1.5 meters.
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More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the land survey equipment system market, presenting historical market data (2019-2023) and forecast statistics for the period of 2024-2034.
The study reveals essential insights on the basis of By Solution (Hardware (GNSS, Total Stations & Theodolite, LEVELS, 3D Laser Scanners, Unmanned Aerial Vehicles (UAVs) and Machine Control System), Software (Desktop Application, Mobile Application, Remote Sensing Application, and Developer Application), and Services (Technical Services, Calibration Services and Software Development Services)), By Application (Inspection, Monitoring, Volumetric Calculations, Layout Points and Other Applications), By End-Use Industry (Agriculture, Disaster Management, Transportation, Energy & Power (Oil & Mining, Utilities and Renewable Energy), Mining & Construction, Forestry, Scientific & Geological Research and Others) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
Segmentation of Land Survey Equipment System Industry Research:
By Solution : Hardware GNSS Total Stations & Theodolite LEVELS 3D Laser Scanners Unmanned Aerial Vehicles (UAVs) Machine Control System
Software Desktop Application Mobile Application Remote Sensing Application Developer Application
Services Technical Services Calibration Services Software Development Services
By Application : Inspection Monitoring Volumetric Calculations Layout Points Other Applications
By End-Use Industry : Agriculture Disaster Management Transportation Energy & Power Oil & Mining Utilities Renewable Energy
Mining & Construction Forestry Scientific & Geological Research Others
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