PORTLAND, Oregon, Sept. 9, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Robotic Total Station Market by Type (0.5''-1'' Accuracy and 2''- Others Accuracy), Application (Surveying, Engineering & Construction, and Excavation), and End User (Construction, Utilities, Mining, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global robotic total station industry garnered $568.6 million in 2018, and is estimated to reach $930.6 million by 2026, growing at a CAGR of 6.4% from 2019 to 2026. The report also provides a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive landscape, and changing market trends.
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Rapid increase in construction industry, development in transport infrastructure, rise in defense expenditure and surge in manufacturing of defense equipment in the private sector fuel the growth of the global robotic total station market. On the other hand, high set-up cost and periodic maintenance restrain the growth to some extent. However, increase in demand in the emerging economies, high investments in R&D and top-end advancements in technology are expected to create a number of lucrative opportunities in the segment.
The engineering and construction segment to lead the trail by 2026-
Based on application, the engineering and construction segment contributed to nearly three-fifths of the total robotic total station market share in 2018 and is expected to rule the roost by 2026. There is a growing trend of deploying robotic total station for survey that is conducted at the completion of the construction project to verify and check whether the construction is perfectly done. The same segment is also expected to grow at the fastest CAGR of 6.2% during the forecast period.
The construction segment held the largest share in 2018-
Based on end-user, the construction segment accounted for more than half of the total robotic total station market revenue in 2018 and is anticipated to maintain its dominance during 2019–2026. The growing demand for land surveying equipment such as robotic total station for precise measurements in various branches of construction industries has driven the growth of the segment. The transportation segment, on the other hand, is predicted to grow at the fastest CAGR of 6.1% by 2026. The fact that robotic total station is used for surveying the respective space or land to develop transport facilities in urban areas has led to an increase in demand for robotic total station in development of transport infrastructure.
Asia-Pacific, followed by North America, to retain the lion's share during the study period-
Based on geography, the Asia-Pacific region, followed by North America, garnered the major share in 2018, holding more than one-third of the total market. The region is characterized by a large population base and strong economic growth as compared to other regions. This factor has worked as the major driving factor for the growth of the robotic total station market in the region. At the same time, the LAMEA region would witness the fastest CAGR of 5.2% till 2026. Significant investment toward infrastructural development drives the growth of the market in the region.
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Frontrunners in the industry-
- Guangdong Kolida Instrument Co. (China)
- Topcon Corporation (Japan), Hexagon (Sweden)
- Suzhou FOIF Co. (China)
- GPS Lands (Singapore) PTE LTD.
- Trimble (US)
- Changzhou Dadi Surveying Science & Technology Co. (China)
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