Rising global urbanization and infrastructure growth propel the land survey equipment market, a trend set to persist in the forecast period of 2022-2032.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 21, 2023 /EINPresswire.com/ -- According to a Future Market Insights (FMI) report, the global land survey equipment market is anticipated to achieve a valuation of US$ 11,880.6 Million by the year 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 7.2% from 2022 to 2032. This growth trajectory is substantiated by the escalating demand attributed to heightened construction activities across both governmental and private sectors.

The indispensable role of land surveying equipment in construction endeavors, encompassing tasks such as strategic construction planning, precise calculation of land volume metrics, and the establishment of legal boundaries, underscores its significance throughout the forecast period. The introduction of Geographic Information System (GIS) Asset and Global Navigation Satellite System (GNSS) technologies is poised to further propel market expansion, as these advancements facilitate the accurate identification of site locations and assets, thereby streamlining the tracking of construction activities for developers.

A pressing concern for safety, exacerbated by an uptick in accidents due to inadequate safety measures, has spurred the demand for secure environments. Industries, in response to this, are increasingly adopting reliable and safe land survey equipment to inspect and monitor remote locations where manual monitoring is impractical. These prevailing factors are expected to serve as catalysts for the sustained growth of the land survey equipment industry.

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Land survey equipment manufacturers are witnessing a notable uptick in investments directed towards research and development activities. This heightened focus is a direct response to the escalating demand for cutting-edge and improved products within the industry. Simultaneously, the adoption of novel manufacturing strategies geared towards cost reduction is playing a pivotal role in fostering growth in the global land survey equipment market. Noteworthy advancements, such as cloud-based data acquisition and unmanned aerial vehicles, are poised to revolutionize market dynamics in the foreseeable future.

In line with FMI's analysis, the Asia Pacific region is anticipated to assert dominance over the global market throughout the forecast period. This ascendancy can be attributed to the implementation of new guidelines and government initiatives, further propelling the region's significance in the evolving landscape of land survey equipment.

"There is increasing focus on diversifying portfolio. Companies are therefore investing in research and development to gain a competitive edge. Besides this, strategic collaborations will remain a key strategy adopted by market players for strengthening their footprint," - opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Key Takeaways:

North America and Europe will exhibit increasing demand backed by high investment in construction activities

GNSS systems are highly sought-after and are expected to remain top-selling product type in the market

East Asia will emerge as a lucrative market, registering high sales in China and Japan.

Volumetric calculations and layout points will cover considerable share in the market

Drivers:

Demand from oil & gas, mining, and construction industries is supporting growth in land survey equipment in the global market.

Advanced and automated technologies such as robotic total stations, deliver 3D coordinates for moving and stationary operations. Companies are including various robotic features such as speeded-up robust feature (SURF) and scale invariant feature transform (SIFT) that track and monitor numerous activities. These features will further aggravate demand for land survey equipment.

Global Navigation Satellite System (GNSS) is becoming integral in land survey equipment industry as this technology delivers orthomosaic images and 3D models san Ground Control Points (GCPs) that save time spent on surveying and planning. Thus it is being rapidly adopted

Rise of mining operations to cater increasing demand for coal and minerals in Russia, the U.S., and China are encouraging demand for land survey equipment. The operators are required to survey land for regulations and prevent boundary disputes.

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Competitive Landscape:

Key players in the market are focusing on investing in research institutes across numerous regions to improve their offerings and diversify product portfolio. They are also adopting numerous other strategies such as digital marketing, partnership agreements, and acquiring technical expertise among others to strengthen their footprint.

For instance:

Trimble and Amberg Technologies collaborated to software and hardware combination tunnel survey solution. The solution helps during underground tasks such as automated survey, control, excavation guidance, and so on.

Trimble launched the Trimble Roadworks 3D Paving Control Platform for Asphalt Pavers. It is an automatic 3D screen control system to improve paving productivity and ride ability while minimizing asphalt usage and reducing waste.

Key Players

M&P Survey Equipment Ltd.
Shanghai Huace Navigation Technology Ltd.
South Surveying & Mapping Instrument Co., Ltd.
u-Blox Holding AG
Trimble
Hexagon AB
Beijing UniStrong Science & Technology Co., Ltd.
Hi-Target Surveying Instrument Co., Ltd.
Suzhou FOIF Co., Ltd.
Guangdong Kolida Instrument Co., Ltd.
Pentax Precision

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Key Segments Covered in Land Survey Equipment Industry Analysis

Product Type:

Hardware
Software

Application:

Inspection
Monitoring
Volumetric Calculation
Layout Points

End Use:

Oil & Gas
Construction
Mining
Agriculture
Others (Autonomous Vehicle and Marine time)

Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

Explore Future Market Insights, Inc. Extensive Coverage in Industrial Automation Domain:

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
+91 90966 84197
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