The Fragmented Surveying And Mapping Global Market Scenario Is Expected To Change In The Near Future
The surveying and mapping market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 3.83% of the total market in 2018. This fragmentation of the market is attributed to the presence of a large number of small and independent surveying and mapping service providers in the market and just one player accounting for more than 1% share of the market. However, this is expected to change in the near future with heavy investments in the industrial and infrastructure sectors, adoption of latest geospatial technologies by firms, and substitution of smaller firms by the large integrated service providing consulting engineering firms. John Secom Group was the largest competitor with 1.19% of the market. Other major players in the market include Fugro N.V., AECOM, Stantec Inc., Mott MacDonald Limited, Surveying And Mapping LLC. (SAM), Quantum Spatial, Inc., Timmons Group, Landpoint, LLC, and Cardno Limited.
Secom Group was the largest competitor in the surveying and mapping market in 2018 with a 1.19% market share. Secom Group provides diverse services such as security services, medical services, geographic information services, fire protection services, BPO and ICT services, insurance services and real estate development and sales. The company was established in 1962. It is headquartered in Tokyo, Japan. Secom Group is estimated to have generated revenues of $0.45 billion for the financial year 2018 from the surveying and mapping market, a 1.4% decrease from the previous year.
Secom Group’s growth strategy aims at partnering with technology companies to acquire innovative technologies to generate high precision data. In June 2017, Pasco Corporation, a subsidiary of Secom, partnered with seven companies including Mitsubishi Electric Corporation, Aisan Technology Co., Ltd, Zenrin Co., Ltd and Toyota Mapmaster Incorporated, and invested in Dynamic Map Planning Co., Ltd to develop high precision 3D map data for autonomous driving cars. A total of $34.854 million (3.7 billion JPY) were invested through a third-party share allocation in this joint venture. This technology will help the company in surveying and mapping difficult terrains.
AECOM, another major player in the global surveying and mapping market, has adopted a similar growth strategy. It aims at acquiring and developing innovative technologies for better surveying and mapping results. In 2017, the company introduced AECOM Ventures and launched its first Global Challenge inviting innovative ideas, and received more than 700 entries from all over the world. The company also aims at generating $1 billion cash flow to support its balanced capital allocation priorities that include acquisitions, investments, and R&D.