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(Transportation-News.com, April 14, 2020 ) The Land Survey Equipment market is projected to grow from USD 5.42 billion in 2016 to USD 8.70 billion by 2022, at a CAGR of 7.67% during the forecast period from 2017 to 2022. This report covers the forecast of the Land Survey Equipment market and its dynamics over the next five years, while also recognizing the application gaps and recent developments in the Land Survey Equipment market, along with the identification of high potential countries. Advancement in in networking for GNSS application of land survey equipment, benefits of electronics devices on conducting land surveys are the major factor that is expected to drive the Land Survey Equipment market in the coming years.
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The construction software segment of the land survey equipment market is projected to witness the highest growth during the forecast period.
Based on software, the construction software segment is projected to grow at the highest CAGR during the forecast period. Factors driving the software segment are the growing demand for the AUTOCAD Building Model with 2D and 3D applications. Key players in this market have been focusing on developing advanced software models to enhance the productivity and accuracy of the construction software. This is expected to fuel the growth of the construction software segment during the forecast period.
The commercial end user segment of the land survey equipment market is projected to witness the highest growth during the forecast period.
Based on end user, the commercial segment of the land survey equipment market is projected to grow at the highest CAGR during the forecast period. With various technological advancements, such as the introduction of the GNSS technology for surveying and the adoption of land survey equipment for commercial purposes such as construction, mining, and agriculture, are likely to contribute to the growth of the global land survey equipment market.
The land survey equipment market in Asia Pacific is projected to witness the highest growth during the forecast period.
The land survey equipment market in the Asia Pacific region is anticipated to grow at the highest CAGR from 2017 to 2022. Rapid urbanization in Mainland China and the growth in China’s real estate and construction market are driving the land survey equipment market in the region.
The land survey equipment market ecosystem comprises manufacturers such as Trimble (US), Hexagon (Sweden), Topcon (Japan), Meggitt PLC (UK), Hi-Target (China), CHC-Navigation (China), Suzhou FOIF (China), Stonex (Italy), etc.
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