Geodetic Measuring Devices Market Report 2024: Global Size, Share, Growth, Trends, Forecast to 2033

The Business Research Company recently released a comprehensive report on the Global geodetic measuring devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The geodetic measuring devices market size has grown strongly in recent years. It will grow from $30.44 billion in 2023 to $33.3 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to infrastructure development projects, land surveying and mapping needs, environmental monitoring, global navigation and positioning systems, scientific research and geophysics..

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..

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Market Drivers and Trends:
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.

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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Major Key Players of the Market:
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.

geodetic measuring devices Market 2024 Key Insights:
• The geodetic measuring devices market is expected to grow to$47.2 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%.
• Surge In Geological Surveys Drives Growth In The Geodetic Measuring Devices Market
• Laser Gnss Receivers Revolutionize The Geodetic Measuring Devices Market
• North America was the largest region in the geodetic measuring devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

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