September 09, 2024 10:13 ET | Source: The Insight Partners The Insight Partners
US & Canada, Sept. 09, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the increasing demand for land survey equipment in construction, renewable energy, mining, oil & gas, forestry, precision farming, disaster management, and transportation industries, as well as in scientific and geological research and utilities, drives the market. lidar drone survey
Global Land Survey Equipment Market Experiences Significant Growth Due To Rising Development In Real Estate
The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Land Survey Equipment market comprises a vast array of hardware, solution, industry and application which are expected to register strength during the coming years.
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1. Market Growth: The Land Survey Equipment market is expected to reach US$ 12,568.4 million by 2031 from US$ 8,068.0 million in 2022, at a CAGR of 7.7% during the forecast period. The governments in developing countries are planning smart city projects that need to be surveyed and inspected thoroughly before beginning the construction process. Therefore, increasing initiatives for smart city development are driving the need for land survey equipment.
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2. Technological Innovations: The increasing demand for land survey equipment in construction, renewable energy, mining, oil & gas, forestry, precision farming, disaster management, and transportation industries, as well as in scientific and geological research and utilities, drives the market
3. Drone Technology Usage: Drones are the most popular land surveying equipment that can improve the efficiency and flexibility of field surveys, particularly topographic surveys, through aerial photography and mapping by capturing data via video and GNSS.
4. Digitalization: Digitalization in land surveying helps in precise measurements with high efficiency and data integration at lower land survey costs. Distances and angles can be measured precisely and quickly, and the data can be combined using software to construct a number of land surveys.
5. Geographical Insights: APAC dominated the land survey equipment market in 2023. Europe is the second-largest contributor to the global land survey equipment market, followed by North America, Middle East, South America, Africa, and CIS.
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Global Headlines on Land Survey Equipment:
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The rising urbanization and industrialization in developing countries is a key factor fueling the growth of the land survey equipment market. The governments in developing countries such as India, Peru, and China are planning different smart city projects, which would need surveying and inspection activities before the actual construction process. Further, major cities in the US, India, and China are rapidly expanding, and several new infrastructures are being constructed in different parts of these countries. Several plans for the development of smart cities are rolled out, and land survey equipment plays a critical role in surveying development sites in the planning stage.
The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system integrator, system manufacturers and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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