Global Surveying and Mapping Services Market to Reach $39.1 Billion by 2026
SAN FRANCISCO, June 25, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Surveying and Mapping Services - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Engagements: 363
Companies: 77 - Players covered include Fugro N.V.; GEOWEB S.p.A.; GIM International - Geomares; Leica Geosystems AG; RIPRO Corp.; Trimble, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Service Type (Hydrographic Surveying, Cadastral Surveying, Topographic Surveying, Other Land Surveying Services)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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ABSTRACT-
Global Surveying and Mapping Services Market to Reach $39.1 Billion by 2026
Land surveying is an art, profession, science, and technique of determining the 3D positions of points in the earth's surface and also measuring the directions, distances, elevations, and angles between them. The measured data helps in creating maps and determining plot boundaries accurately. Surveying achieves vital needs in several fields such as construction, civil engineering, real estate, and architecture. Land surveyors assess the boundaries for properties, survey plots at different sites and prepare maps. They carry out measurements essential for building map of a particular area. Amid the COVID-19 crisis, the global market for Surveying and Mapping Services estimated at US$32 Billion in the year 2020, is projected to reach a revised size of US$39.1 Billion by 2026, growing at a CAGR of 3.4% over the analysis period. Hydrographic Surveying, one of the segments analyzed in the report, is projected to grow at a 3% CAGR to reach US$14.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cadastral Surveying segment is readjusted to a revised 3.3% CAGR for the next 7-year period. This segment currently accounts for a 29.6% share of the global Surveying and Mapping Services market.
The U.S. Market is Estimated at $7.9 Billion in 2021, While China is Forecast to Reach $6.2 Billion by 2026
The Surveying and Mapping Services market in the U.S. is estimated at US$7.9 Billion in the year
2021. The country currently accounts for a 24.51% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$6.2 Billion in the year 2026 trailing a CAGR of 4.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of European market (as defined in the study) will reach US$6.6 Billion by the end of the analysis period.
Land surveying services will continue to register strong growth due to growing adoption of aerial surveying services, cartographic surveying services, and geodetic surveying services, among others. In the coming years, investments in drones and UAVs and in technologies such as 3D laser scanning and cloud technologies are likely to rise. China is especially anticipated to drive market gains. Companies in the market are expected to join forces with technology enterprises to obtain advanced solutions to produce highly accurate data and achieve improved surveying and mapping results.
Topographic Surveying Segment to Reach $8.8 Billion by 2026
In the global Topographic Surveying segment, USA, Canada, Japan, China and Europe will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.3 Billion in the year 2020 will reach a projected size of US$6.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.4 Billion by the year 2026. More
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