Surveying Equipment Market Size to Grow by $ 2.07 Billion During 2020-2024
Technavio has been monitoring the surveying equipment market and it is expected to grow by $ 2.07 billion, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Surveying Equipment Market: APAC to lead market growth during the forecast period
- 47% of the market growth will originate from APAC during the forecast period.
- Coastal area management will be a key trend that will influence market growth significantly.
- Growth in railway sector in APAC will be a significant factor in driving the growth of the surveying equipment market.
Surveying Equipment Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. FARO Technologies Inc., Hexagon AB, Kongsberg Gruppen ASA, Raytheon Co., Robert Bosch GmbH, Seafloor Systems Inc., Teledyne Technologies Inc., Thales Group, Topcon Corp., and Trimble Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Surveying Equipment Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive surveying equipment market growth during the next five years
- Precise estimation of the surveying equipment market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the surveying equipment market industry across APAC, Europe, North America, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of surveying equipment market vendors
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of over 4%.
- What is the incremental growth of the market?
The market is expected to grow by $ 2.07 bn through 2020-2024.
- What is a key factor driving this market?
Growth in railway sector in APAC will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
47% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are FARO Technologies Inc., Hexagon AB, Kongsberg Gruppen ASA, Raytheon Co., Robert Bosch GmbH, Seafloor Systems Inc., Teledyne Technologies Inc., Thales Group, Topcon Corp., and Trimble Inc.
- What are the market segments covered in this report?
The market is segmented by Application (Land application and Hydrographic application) and Geography (APAC, Europe, North America, MEA, and South America)