Geodetic Measuring Devices Market

COVID-19 Impact Analysis

• The COVID-19 pandemic ceased the production of various products in the geodetic measuring devices industry, which is attributed to the global lockdown. This has hampered the growth of geodetic measuring devices market in the years and a similar trend is expected to be seen in the first half of 2022.
• The major demand for geodetic measuring devices was previously noticed from giant developed and developing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for geodetic measuring devices.
• Further, long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Geodetic measuring devices manufacturers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis
• Geodetic measuring devices manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

Increase in private-public partnerships (PPPs) to promote infrastructural development is one of the important driving factors for the geodetic measuring devices market. PPPs have been implemented in various countries, such as South Korea and India. The boost in PPPs and surged investments through private channels can assist in boosting the infrastructure industry, thereby driving the demand and growth of the geodetic measuring devices market. Moreover, the increasing urbanization owing to the increasing disposable income of the public in general is causing a rise in the construction industry. This is estimated to boost the geodetic measuring devices market. However, the dearth of skilled professionals for efficient operation of geodetic measuring devices is one of the restraining factors hindering the growth of the geodetic measuring devices market. In contrast, technological advancements in geodetic measuring device products such as automatic operation, artificial intelligence (AI), cutting-edge sensors, and others can not only increase equipment efficiency but also result in higher accuracy of geodetic measuring devices. This is anticipated to create lucrative opportunities for the growth of the geodetic measuring devices market during the forecast period.

Market Trends

• New products that contain improved capabilities are launched by leading market players. They take the necessary steps to improve the functionality of products. For instance, in January 2021, Sherborne Sensors, a geotechnical specialist company, launched the "WTS Wireless Tilt System," an all-weather radio telemetry system made to provide high-accuracy remote angle measurement data.
• Similarly, competitors in the geodetic measuring devices market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in July 2021, Keller Group plc. the world's largest geotechnical specialist contractor, acquired RECON Services, Inc., a US-based geotechnical and industrial services company. This acquisition will help Keller complement its offerings and expand into new markets.
• Moreover, business expansion strategies also assist in enhancing the geographic footprint of the company and help in gaining significant market share for geodetic measuring device products. For instance, in 2019, GeoSense, a Greece-based trading company of geospatial products, moved to a new facility at Terma Proektasis Maiandrou Str., Oraiokastro, and Thessaloniki, Greece.

Key Benefits of the Report

• This study presents the analytical depiction of the geodetic measuring devices industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the geodetic measuring devices market share.
• The current market is quantitatively analyzed to highlight the geodetic measuring devices market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed geodetic measuring devices market analysis based on competitive intensity and how the competition will take shape in coming years.