The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
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LONDON, GREATER LONDON, UK, June 26, 2024 /EINPresswire.com/ — The global geodetic measuring devices market has experienced significant growth, expanding from $30.44 billion in 2023 to an anticipated $33.3 billion in 2024, at a CAGR of 9.4%. This growth has been driven by infrastructure development, land surveying needs, environmental monitoring, and advancements in global navigation and positioning systems. The market is projected to continue its upward trajectory, reaching $47.2 billion by 2028, with a CAGR of 9.1%. Key factors fueling this growth include smart cities development, climate change modeling, precision agriculture, and increasing importance in disaster monitoring.
Growing Adoption of Electronic Devices Drives Market Growth
The increasing adoption of electronic surveying devices is a major driver for the geodetic measuring devices market. Devices such as GPS receivers, total stations, laser scanners, drones, and mobile data collection applications have significantly improved the accuracy, efficiency, and speed of surveying processes. For instance, Topcon Positioning Group introduced the MC-Max machine control solution in November 2021. This scalable solution for mixed-fleet heavy equipment environments is designed to adapt to machine control and data integration needs, showcasing the advancements and reliance on electronic surveying tools. The growing adoption of such electronic devices is expected to drive the market forward.
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Major Players
Key players in the market include Hexagon AB, Keller Group PLC, Fugro N.V, Topcon Positioning Systems Inc., and FARO Technologies Inc., among others. These companies focus on product innovation to meet evolving customer needs. For example, ComNav Technology Ltd. launched the Venus Laser RTK GNSS Receiver in December 2022, a device that offers millimeter-level precision and tilt adjustment capabilities, enhancing GNSS surveying accuracy and efficiency.
Segments:
The geodetic measuring devices market covered in this report is segmented –
1) By Type: Total Stations, Levels, Global Navigation Satellite System Receivers, Other Types
2) By Technology: Global Navigation Satellite System (GNSS), Light Detection And Ranging (LiDAR), Photogrammetry, Remote Sensing
3) By Application: Civil Engineering, Mechanical Engineering, Construction, Geology, Other Applications
Geographical Insights: North America Leading the Market
North America was the largest region in the geodetic measuring devices market in 2023, with Asia-Pacific expected to be the fastest-growing region during the forecast period. The market dynamics in these regions are shaped by factors such as infrastructure development, urban planning initiatives, and advancements in geospatial technologies.
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Geodetic Measuring Devices Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Geodetic Measuring Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on geodetic measuring devices market size, geodetic measuring devices market drivers and trends, geodetic measuring devices market major players, competitors’ revenues, market positioning, and market growth across geographies. The geodetic measuring devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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