How Has the Geodetic Measuring Devices Market Size Evolved in Recent Years?
The geodetic measuring devices market has seen considerable growth due to a variety of factors.
• The market for geodetic measuring devices has experienced robust growth in the past few years. It is projected to expand from $33.3 billion in 2024 to $36.06 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.3%.
This growth during the historical period has been a result of various factors including infrastructure development initiatives, land surveying and mapping requirements, environmental surveillance, worldwide navigation and positioning systems, and advancements in scientific research and geophysics.
What are the Market Size and Expected Growth Rates for the Geodetic Measuring Devices Market?
The geodetic measuring devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market for geodetic measuring devices is anticipated to witness significant expansion over the coming years, with an expected valuation of $52.33 billion in 2029 and a compound annual growth rate (CAGR) of 9.8%.
The predicted growth during the forecast period can be ascribed to factors like urban planning and smart cities, environmental modeling and climate change, digital twin applications, precision agriculture, infrastructure resilience, and the increasing significance in disaster response and monitoring. The forecast period is also set to see key trends such as the integration of geospatial information systems (GIS), increased focus on climate studies and environmental monitoring, the need for high-accuracy positioning in navigation, and applications in precision agriculture practices.
Which Key Drivers Are Propelling The Geodetic Measuring Devices Market's Growth?
The surge in interest for geological studies is anticipated to fuel the expansion of the geodetic measuring devices market. A systematic study of the geology beneath a specific land area results in a geological map or model, which uses techniques varying from conventional walk-over surveying, inspecting outcrops and land formations, to more intrusive methods. Geodetic measuring tools are employed in geological studies to identify the location, height, and orientation of points on the Earth's surface, as well as to develop precise maps and models of it. These can be then used for in-depth study of the area's geology. For example, in 2023, The United States Geological Survey, a US agency comprehending natural resource conditions, challenges, and issues, saw a 30.01% increase in the United States Geological Survey (USGS) budget from $1,316 billion in 2022 to $1,711 billion in 2023. The estimated workforce was 8,344 full-time employees (FTEs), including over 8,000 scientists, technicians, and support staff at more than 400 centres around the nation. In addition, the 2023 budget allocated $147 million for Energy and Mineral Resources programs and $72.7 million for land management research. Hence, the increasing demand for geological surveys is foreseen to boost the growth of the geodetic measuring devices market. Heightened use of electronic devices for surveying is projected to stimulate the development of the geodetic measuring devices market. The use of electronic surveying tools such as GPS receivers, total stations, laser scanners, drones, and mobile data collection apps has heightened the precision, effectiveness, and speed of surveying processes. Furthermore, these electronic survey tools accurately measure the distance using modulated microwave or infrared carrier signals. For example, Uswitch Limited, a financial conduct authority in the UK, reported in February 2024 that mobile connections in the UK had hit 71.8 million, a 3.8% increase from the previous year, equivalent to nearly 2.6 million additional connections. In addition, it is anticipated that the UK's populace will grow to 68.3 million by 2025, with an estimated 95% of the population, or almost 65 million individuals, possessing a smartphone. As a result, the expanding use of electronic devices for surveying is likely to spur the growth of the geodetic measuring devices market.
What Are The Key Segments Within The Global Geodetic Measuring Devices Market?
The geodetic measuring devices market covered in this report is segmented –
1) By Type: Total Stations, Levels, Global Navigation Satellite System Receivers, Other Types
2) By Technology: Global Navigation Satellite System (GNSS), Light Detection And Ranging (LiDAR), Photogrammetry, Remote Sensing
3) By Application: Civil Engineering, Mechanical Engineering, Construction, Geology, Other Applications
Subsegments:
1) By Total Stations: Reflectorless Total Stations, Robotic Total Stations
2) By Levels: Automatic Levels, Digital Levels
3) By Global Navigation Satellite System (GNSS) Receivers: RTK GNSS Receivers, Static GNSS Receivers
4) By Other Types: Theodolites, Distance Measuring Instruments, 3D Laser Scanners
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What Trends Are Reshaping The Future Of The Geodetic Measuring Devices Market?
Big players in the geodetic measurement devices market are focusing on creating innovative products like laser GNSS receivers to offer dependable customer service. This type of receiver uses laser range-finding to calculate the distance to satellites, thereby determining their position more accurately than the conventional GNSS receivers that rely on radio signals. For example, in December 2022, ComNav Technology Ltd., a Chinese company offering high-accuracy positioning solutions, introduced the Venus Laser RTK GNSS Receiver. This unique product allows for rodless surveys, and is equipped with a millimeter-level laser distance meter and driven by a SinoGNSS K8 high-precision module. When used in laser mode, it can function as a range pole and broaden the scope of GNSS surveying. Venus offers 2.5 cm precision with traditional methods and up to 60° tilt adjustment. With a tilt angle of 60°, Venus can achieve an accuracy of 5.5 cm in the laser modes.
Who Are the Key Players In The Geodetic Measuring Devices Market?
Major companies operating in the geodetic measuring devices market report are:
• 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.
What Are The Regional Insights Into The Geodetic Measuring Devices Market?
North America was the largest region in the geodetic measuring devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geodetic measuring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
