Land Survey Equipment Market Expected to Reach $17.2 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Land Survey Equipment Market," The land survey equipment market size was valued at $10 billion in 2022, and is estimated to reach $17.2 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032. 

Land survey equipment refer to a set of tools, instruments, and technologies used by land surveyors to accurately measure the land. There are various land survey equipment such as GNSS systems, total stations & theodolites, levels, 3D laser/laser scanners, and unmanned aerial vehicles, which are used in industries such as construction, oil & gas, agriculture, mining, and disaster management for inspection & and monitoring, volumetric calculations, and layout points.

The land survey equipment market is mainly driven by a rise in construction activities in developing countries. For instance, the construction industry in the U.S. is expected to grow at a rate of 5% and reach $1,428.5 billion by 2024. In addition, the rise in application of remote operation of UAVs has led to a rise in demand for drones. Moreover, advantages related to time-saving and accuracy gained in data output also propel the market growth. In addition, the rise in urbanization across the world has increased the demand to build infrastructure and is expected to boost the demand for land survey equipment. By 2040, the global population is estimated to grow by two billion with the urban population growing by over 40%. such factors are anticpated to boost the land survey equipment market growth.

The increasing demand for land survey equipment can largely be attributed to the increasing construction activities around the globe. Typically, land survey equipment market is classified into GNSS systems, total stations & theodolites, levels, 3D laser/laser scanners, unmanned aerial vehicles (UAVs), pipe lasers and others. Among these, the GNSS systems segment accounted for the highest market share in 2022. The market is analyzed with respect to different applications such as inspection & monitoring, volumetric calculations, and layout points.

Out of these, the inspection & monitoring segment accounted for the highest market share in 2020, owing to high demand from various industries such construction, oil & gas, agriculture and others. By industry, it is based on construction, oil & gas, agriculture, mining, disaster management and others. The market is mainly driven by the rise in industrialization in developing countries and the development of commercial infrastructure throughout the regions. However, the high initial cost and rental and leasing service providers for land survey equipment constrain the growth of the market.

In 2022, Asia-Pacific accounted for the highest share in the land survey equipment market share, in terms of revenue. Moreover, the market in LAMEA is anticipated to grow with the highest CAGR, owing to growth in industrialization in the region.

However, the high initial cost and rental and leasing service providers for land survey equipment hamper the growth of the market. Moreover, data collection and upgraded data management systems using advanced software and equipment and technological advancements in land survey methods are expected to boost the land survey equipment market during the forecast period.

Various manufacturers in the land survey equipment market such as Hi-Target, Stonex, Topcon Corporation, Hexagon, and Trimble Inc. offer a wide variety of land survey equipment for inspection and monitoring, volumetric calculations, and layout point applications. For instance, in November 2022, Stonex launched the XVS vSLAM 3D Scanner. The system uses a technology based on the integration of high-resolution images, inertial systems, and a complex algorithm: capturing a scenario with XVS, a 3D model will be generated through photogrammetric techniques. Growth of the land survey equipment market is majorly driven by urbanization in developing countries and timesaving yet accurate output of data by advanced computers.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging land survey equipment market trends and dynamics. 
• In-depth land survey equipment market analysis is conducted by constructing market estimations for the key market segments between 2022 and 2032.
• Extensive analysis of the land survey equipment market outlook is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
• The land survey equipment market forecast analysis from 2023 to 2032 is included in the report.
• The key market players within the land survey equipment market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the land survey equipment industry.