NEWARK, Del, Feb. 20, 2024 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI), the land survey equipment market is poised to cross US$ 7,515.6 Million in 2024 and is likely to attain a valuation of US$ 15,926.70 Million by 2034. The land survey equipment market size is projected to thrive at a staggering CAGR of 7.80% from 2024 to 2034.
Businesses can offer specialized services for aerial mapping, surveillance, and inspections by taking advantage of the lucrative opportunity presented by the demand for drone surveying. Businesses can support a variety of sectors, including infrastructure development, agriculture, and construction, by offering full drone services, which include pilot training, maintenance, and data analysis. This boosts market competitiveness, diversifies the company's income sources, and establishes the company as a pioneer in drone surveying technology, all of which propel growth and profitability in a sector that is growing quickly.
Land surveying is being revolutionized by 3D laser scanning technology, which produces extremely precise and comprehensive point cloud data. 3D laser scanning is widely used in engineering and building projects to provide accurate as-built documentation, site analysis, and quality control. This technology enhances project visualization, reduces errors, and helps informed decision-making throughout the project lifecycle by capturing minute details of physical environments with unmatched accuracy. Ultimately, this technology drives efficiency, lowers costs, and improves project outcomes.
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Businesses can stand out from the competition and draw in ecologically-aware clients by creating environmentally friendly surveying equipment in response to the growing need for sustainability. Businesses can minimize their carbon footprint and practice environmental stewardship by using eco-friendly production techniques, employing energy-efficient technology, and utilizing materials with less environmental effect. Offering environmentally concerned clients with sustainable solutions that match their changing demands in a competitive market improves brand reputation, encourages customer loyalty, and promotes growth.
Key Takeaways from the Land Survey Equipment Market Report:
- The global land survey equipment market size expanded at a 6.0% CAGR through 2034.
- The volumetric calculation segment holds 29.60% of market shares in 2024.
- The GNSS segment captured 39.20% of market shares in 2024.
- The market size in the United States is projected to rise at a 7.9% CAGR through 2034.
- The market size in Germany is anticipated to develop at an 8.9% CAGR through 2034.
- The market size in Australia is estimated to surge at a 7.5% CAGR through 2034.
- The market size in India is expected to increase at a 7.8% CAGR through 2034.
“The market for land surveying equipment is changing quickly, necessitating strategic adaptability. Technical innovation, customization, and a dedication to sustainability are essential for success. Leading companies like Trimble and Hexagon take the lead in GNSS and LiDAR. Innovation comes from startups; broader offerings change how customers interact with brands. Adaptability to technological advances, sustainability, and regulatory changes are necessary for success." – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape:
The land survey equipment market features a fiercely competitive environment, with big competitors such as Trimble and Hexagon driving the pace. These firms extend their product ranges through innovation, mergers, and acquisitions. The industry prioritizes modern technology like GNSS and LiDAR. Vertical integration and service offerings are important tactics, with entrepreneurs bringing specialist technology. Regulatory compliance is an important concern, particularly in the construction and environmental industries.
Key Players Operating in the Global Land Survey Equipment Market:
- Trimble Inc.
- Hexagon AB
- Leica Geosystems (Hexagon)
- Topcon Corporation
- Autodesk, Inc.
- FARO Technologies, Inc.
- Nikon Corporation
- Geospatial Corporation
- Hi-Target Surveying Instrument Co., Ltd.
- Stonex
- CHC Navigation
- Spectra Precision (Trimble)
- South Surveying & Mapping Instrument Co., Ltd.
- CST/Berger (Robert Bosch Tool Corporation)
- Sokkia (Topcon Corporation)
- Carlson Software Inc.
- Hemisphere GNSS
- Geneq Inc.
- Javad GNSS Inc.
- Eos Positioning Systems, Inc.
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Recent Developments:
- In October 2022, eSurvey introduced four new products at Intergeo 2022. The eSurvey's cutting-edge technology, software, and professional services are transforming various applications and sectors, including building and construction, land surveying, agriculture and smart farming, GIS, and more.
- In September 2022, SingularXYZ launched the TS1000 total station, compatible with SingularPad field surveying software. It provides broad surveying capabilities and experience with total stations and RTK receivers.
Land Survey Equipment Market Segmentation Analysis:
By Product:
- GNSS System
- Total stations and Theodolites
- Levels
- 3D laser
- UAV
- Pipe Lasers
- Others
By Industry:
- Construction
- Oil and Gas
- Agriculture
- Mining
- Disaster Management
- Others
By Application:
- Inspection and Monitoring
- Volumetric Calculations
- Layout Points
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
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About the Industrial Automation Division at Future Market Insights:
The industrial automation team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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