Press release
Geodetic Measuring Devices Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions | Hexagon AB, Keller Group plc, Fugro N.V, Topcon Positioning Systems Inc
Geodetic Measuring Devices Global Market Report 2024
The geodetic measuring devices market size is expected to see strong growth in the next few years. It will grow to $47.2 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to smart cities and urban planning, climate change and environmental modeling, digital twin applications, precision agriculture, infrastructure resilience, increasing importance in disaster monitoring and response.. Major trends in the forecast period include integration of geospatial information systems (gis), focus on environmental monitoring and climate studies, demand for high-accuracy positioning in navigation, application in precision agriculture practices..
Market Overview -
Geodetic measuring devices are tools that measure geographic distance or area and use a curved (nonplanar) surface to model the earth to collect and transfer elevations while conducting site surveys or building construction. They measure georeferenced displacements or movements in one, two, or three dimensions.
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Surge In Geological Surveys Drives Growth In The Geodetic Measuring Devices Market
The growing demand for geological surveys is expected to propel the growth of the geodetic measuring devices market going forward. A geological survey systematically investigates the geology beneath a given piece of ground to create a geological map or model that employs techniques from the conventional walk-over survey, exploring outcrops and landforms, to invasive methods. Geodetic measuring devices are used in geological surveys to measure the position, elevation, and orientation of points on the Earth's surface and to create accurate maps and models of the Earth's surface, which can then be used to study the area's geology. For instance, in 2023, according to The United States Geological Survey, a US-based agency that understands natural resource conditions, issues, and problems, the United States Geological Survey (USGS) budget increased by 30.01% from $1,316 billion in 2022 to $1,711 billion in 2023 and estimates that staffing is 8,344 full-time equivalents (FTEs), with more than 8,000 scientists, technicians, and support personnel working for USGS at more than 400 facilities across the country. Further, the 2023 budget includes $147 million for Energy and Mineral Resources programs and $72.7 million for land management research. Therefore, the growing demand for geological surveys is expected to propel the growth of the geodetic measuring devices market.
Competitive Landscape -
Major companies operating in the geodetic measuring devices market report are Hexagon AB, Keller Group plc, Fugro N.V, Topcon Positioning Systems Inc., COWI A/S, FARO Technologies Inc., AEVEX Aerospace LLC, GaiaComm Ltd., RST Instruments Ltd., Roctest Ltd., Geodetic Systems Inc., GEOKON, Geocomp Corporation, GEODATA Group, Durham Geo Slope Indicator Inc., Measurand, Sherborne Sensors Ltd., Encardio-Rite Electronics Private Limited, GEONOR Inc., Geosense Ltd., Syscom Instruments SA, Canary Systems Inc., 3vGeomatics Inc., South Surveying & Mapping Instrument Co. Ltd., Mine Design Technologies Inc., Sisgeo Srl, NavStar Geomatics Ltd., Marmota Engineering AG, Nova Metrix LLC, Kolida Instrument Co. Ltd.
Laser Gnss Receivers Revolutionize The Geodetic Measuring Devices Market
Major companies operating in the geodetic measuring devices market focus on developing innovative products, such as laser GNSS receivers, to provide reliable customer service. A laser GNSS receiver is a device that uses laser ranging to measure the distance to satellites to determine their position, and they are more accurate than traditional GNSS receivers, which use radio signals. For instance, in December 2022, ComNav Technology Ltd., a China-based provider of professional high-accuracy positioning solutions, launched the Venus Laser RTK GNSS Receiver, which enables rodless surveys. It is uniquely designed with a millimeter-level laser distance meter and powered by a SinoGNSS K8 high-precision module, which, when utilized in laser mode, can take the role of the range pole and expand the capabilities of GNSS surveying. With 2.5 cm of precision in conventional methods, Venus provides tilt adjustment up to 60°. Venus can reach an accuracy of 5.5 cm in the laser modes within a 60° tilt angle.
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Key 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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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