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Land Survey Equipment Market worth $11.7 billion by 2028 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

01 Mar, 2024, 12:06 GMT

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CHICAGO, March 1, 2024 /PRNewswire/ -- The Land Survey Equipment market is estimated to be USD 9.0 billion in 2023 and is projected to reach USD 11.7 billion by 2028, at a CAGR of 5.2% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of the land survey equipment market is propelled by advancements in geospatial technologies, including Enhanced GNSS receivers, unmanned aerial vehicles (UAVs), and 3D laser scanning, enhancing data accuracy and efficiency for construction, agriculture, and mining sectors. Integration of IoT and AI enables real-time data analysis, while cloud-based services ensure secure and accessible data storage.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=261922059

Browse in-depth TOC on "Land Survey Equipment Market" 

100 – Tables
74 – Figures
220 – Pages

Land Survey Equipment Market Report Scope:

Report Coverage

Details

Market Revenue in 2023

$ 9.0 billion

Estimated Value by 2028

$ 11.7 billion

Growth Rate

Poised to grow at a CAGR of 5.2%

Market Size Available for

2019–2028

Forecast Period

2023–2028

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By End User, Application, Solution, Industry and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Lack of skilled workforce and technical knowledge of latest equipment

Key Market Opportunities

Subscription and rental models for land survey equipment

Key Market Drivers

Rising infrastructure development

Regulatory frameworks supporting land survey activities, alongside investments in smart city projects, further bolster market expansion. These advancements facilitate precise land data acquisition, critical for infrastructure development globally. Key drivers include the demand for high-precision instruments to meet evolving industry needs and the surge in infrastructure projects necessitating accurate land data. The market's growth trajectory hinges on continuous technological innovations, strategic partnerships, and alignment with evolving regulatory landscapes to address emerging challenges and opportunities in the land survey equipment sector

By Solution, the hardware segment is projected to grow at the highest CAGR during the forecast period.

Technological advancements in land surveying hardware, such as high-precision GNSS receivers, terrestrial laser scanners (TLS), and UAVs equipped with LiDAR, offer enhanced accuracy and efficiency, driving market growth. Increased demand from construction, mining, and infrastructure sectors necessitates advanced hardware for precise data collection. Integration with automation and software enhances productivity, while flexible rental and leasing options cater to cost concerns. Moreover, expanding applications in precision agriculture and environmental monitoring create new market avenues. Overall, these factors contribute to the burgeoning growth of the land survey equipment hardware segment.

By Industry, the Land Survey Equipment market for the mining & construction segment is projected to grow at the highest CAGR during the forecast period.

The mining and construction segment of the land survey equipment market is projected to experience the highest growth rate. This growth is primarily propelled by the escalating infrastructure development globally necessitates precise land surveying for effective project planning and execution. Secondly, due to the increasing mining activities accurate surveying for resource identification and sustainable operations. Thirdly, technological advancements such as drones and high-precision GNSS enhance survey accuracy and efficiency. Moreover, the integration of survey equipment with automation drives productivity and cost reduction. Additionally, stringent regulatory compliance further stimulates demand for land survey equipment in these sectors.

By End User, Commercial segment for the Land Survey Equipment market is projected to grow at the highest growth rate during the forecast period.

The commercial segment dominates the land survey equipment industry growth, driven by several key factors. Rapid urbanization and infrastructure expansion necessitate precise land measurement, spurring adoption of modern survey tools. Advanced technologies such as drones and 3D scanners enhance efficiency and cost-effectiveness. Continuous innovations in LiDAR, GNSS, and data management software bolster performance and data collection capabilities. Moreover, increasing emphasis on sustainable land management and environmental monitoring further propels demand for detailed surveying data, creating lucrative opportunities within the commercial sector.

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Europe holds the second highest growth rate in the region for the Land Survey Equipment market.

The European land survey equipment sector is positioned for substantial expansion, showcasing the second-highest Compound Annual Growth Rate (CAGR) on a global scale. Principal catalysts encompass urbanization driving infrastructure expansion, technological strides enhancing equipment precision, sustainability drives amplifying the need for meticulous mapping instruments, and broadening application scopes into domains such as agriculture and utilities. Government directives mandating precise land data and infrastructural investments serve as additional growth accelerators. Persistent hurdles include shortages in skilled labor and elevated equipment expenses, compounded by regional regulatory disparities and economic fluctuations influencing growth differentials among nations.

Key Players

Major players in the land survey equipment companies include Hexagon AB (Sweden), Trimble Inc. (US), Topcon (Japan), CHC-Navigation (China), Hi-Target (China), U-Blox Holdings AG (Switzerland), and Hudaco Industries (South Africa). Other key players in the market are Robert Bosch GmBH (Germany), GeoTech (Russia), and Guangdong Kolida Instruments (China). These companies have well-equipped, strong distribution networks across North America, Europe, Asia Pacific, the Middle East, and the Rest of the World.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=261922059

Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
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