Portland, Oct. 22, 2019 (GLOBE NEWSWIRE) -- According to the report, the global robotic total station market was estimated at $568.7 million in 2018 and is expected to reach $930.6 million by 2026, growing at a CAGR of 6.4% from 2019–2026. The report offers a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive scenario, and changing market trends.
Rapid development in the construction industry, progress in transport infrastructure, increase in defense expenditure and surge in manufacturing of defense equipment in the private sector drive the growth of the global robotic total station market. On the other hand, its high set-up cost and periodic maintenance hamper the growth to some extent. Nevertheless, an increase in demand in the emerging economies, advancements in technology and high investments in R&D are anticipated to create new opportunities in the industry.
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The engineering and construction segment to lead the trail by 2026-
Based on the application, the engineering and construction segment contributed to three-fifths of the total market revenue in 2018 and is expected to rule the roost throughout the forecast period. The same segment would also cite the fastest CAGR of 6.2% till 2026.
The construction segment to dominate in terms of revenue-
Based on end-user, the construction segment accounted for more than half of the total market share in 2018 and is anticipated to retain its dominance through 2019–2026. The transportation segment, on the other hand, is projected to grow at the fastest CAGR of 6.1% during the study period.
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The Asia Pacific held the lion’s share in 2018-
Based on geography, the Asia-Pacific region held the largest share in 2018, generating more than one-third of the total market. Simultaneously, the LAMEA region is expected to register the fastest CAGR of 5.2% during the estimated period.
Frontrunners in the industry-
The key players analyzed in the report include Guangdong Kolida Instrument Co. (China), Stonex, Changzhou Dadi Surveying Science & Technology Co. (China), Hexagon (Sweden), Topcon Corporation (Japan), HILTE, GPS Lands (Singapore) PTE LTD., Trimble (US), and Suzhou FOIF Co. (China). These players have incorporated different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to heighten their stand in the market.
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