Land Survey Equipment Market worth 8.70 Billion USD by 2022
According to the new market research report on the "Land Survey Equipment Market by Product (Gnss Systems, Total Stations & Theodolites, 3D Laser Scanners, UAVS), Industry (Construction, Oil & Gas, Mining, Agriculture), Application, Software, End User, Region - Global Forecast to 2022", The land survey equipment market is projected to grow from USD 6.01 Billion in 2017 to USD 8.70 Billion by 2022, at a CAGR of 7.67% between 2017 to 2022. The global land survey equipment market is driven by numerous factors such as rapid urbanization, development of smart cities, and increasing construction activities in North America, Asia Pacific, and Africa.
Based on product, the total stations & theodolites segment is estimated to account for the largest share of the land survey equipment market in 2017. This growth of the total stations & theodolites segment can be attributed to the rise in the adoption of electronic devices to carry out land surveys.
Based on software, the construction software segment is projected to grow at the highest CAGR during the forecast period. Factors driving the software segment are the growing demand for the AUTOCAD Building Model with 2D and 3D applications. Key players in this market have been focusing on developing advanced software models to enhance the productivity and accuracy of the construction software. This is expected to fuel the growth of the construction software segment during the forecast period.
Based on end user, the commercial segment of the land survey equipment market is projected to grow at the highest CAGR during the forecast period. With various technological advancements, such as the introduction of the GNSS technology for surveying and the adoption of land survey equipment for commercial purposes such as construction, mining, and agriculture, are likely to contribute to the growth of the global land survey equipment market.
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The land survey equipment market in the Asia Pacific region is anticipated to grow at the highest CAGR from 2017 to 2022. Rapid urbanization in Mainland China and the growth in China’s real estate and construction market are driving the land survey equipment market in the region.
The land survey equipment market ecosystem comprises manufacturers such as Trimble (US), Hexagon (Sweden), Topcon (Japan), Meggitt PLC (UK), Hi-Target (China), CHC-Navigation (China), Suzhou FOIF (China), Stonex (Italy), etc.