Surveying and Mapping Market 2019 Global Trend, Segmentation and Opportunities, Forecast 2022
— Surveying and Mapping:
Surveying And Mapping Global Market Report 2019 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global surveying and mapping market.
Where is the largest and fastest growing market for the surveying and mapping market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global surveying and mapping market report to 2022 report from the Business Research Company answers all these questions and many more.
Surveying and Mapping Global Market Report 2019 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global surveying and mapping market.
This report describes and evaluates the global surveying and mapping market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global surveying and mapping market reached a value of nearly $38.1 billion in 2018, having grown at a compound annual growth rate (CAGR) of 3.9% since 2014, and is expected to grow at a CAGR of 7.0% to nearly $49.9 billion by 2022.
Growth in the historic period resulted from the growth in the global construction industry and the rise in oil and gas industry activities. Factors that negatively affected growth in the historic period were shortages of skilled surveyors and the rise in competition in the market. Going forward, faster economic growth, technological advances in autonomous vehicles, and increasing demand for environmental surveying will drive growth. Factors that could hinder the growth of this market in the future include the increasing financial costs and rising security concerns.
The surveying and mapping market is segmented by type of service into cadastral surveying, topographic surveying, hydrographic surveying, and other land surveying. The hydrographic surveying market was the largest segment of the surveying and mapping market in 2018 at 33.0%. The other land surveying services market is expected to be the fastest-growing segment going forward at a CAGR of 9.1%.
Asia-Pacific was the largest market for surveying and mapping, accounting for 35.2% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, Africa and the Middle East will be the fastest growing regions in this market, where growth will be at CAGRs of 13.9% and 13.2% respectively. These will be followed by Asia-Pacific and South America where the markets are expected to grow at CAGRs of 9.3% and 7.3% respectively.
The global surveying and mapping market is highly fragmented, with a large number of small players. The top ten competitors in the global surveying and mapping market made up 3.83% of the total market in 2018. Players in the market include John Secom Group, Fugro N.V., AECOM, Stantec Inc., and Mott MacDonald Limited.
The global architectural, engineering consultants and other related services market, of which the surveying and mapping market is a segment, reached a value of nearly $1,438.7 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.1% since 2014. It will grow at a CAGR of 8.9% to nearly $2,024.7 billion by 2022. The surveying and mapping market was the fourth largest segment in the global architectural, engineering consultants and other related services market in 2018, accounting for 2.6% of the total. The engineering services market was the largest segment of the architectural, engineering consultants and other related services market, accounting for 71.2% of the total, worth $1,024.0 billion globally; this segment has grown at a CAGR of 9.6% during the historic period. It is expected to grow at a CAGR of 10.3% during the forecast period.
The top opportunities in the global surveying and mapping market will arise in the topographic surveying segment which will gain $3.23 billion of global annual sales by 2022. The surveying and mapping market size will gain the most in China at $3.54 billion. Market-trend-based strategies for the surveying and mapping market include investments in unmanned aerial vehicles and drones, and the adoption of latest technological advances such as cloud technologies and 3D laser scanning technology. Player-adopted strategies in the surveying and mapping industry include partnerships with technological companies to acquire innovative technology to generate high precision data, increases in business activities in the non-oil and gas industries, and acquisition and development of innovative technologies for better surveying and mapping results.
To take advantage of the opportunities, The Business Research Company recommends the surveying and mapping companies to consider adopting technological advances such as unmanned aerial vehicles (UAVs), cloud computing technologies and 3D laser scanning, focusing on expanding through collaborations, and focusing on environmental groups, among other strategies.
For further information on this report, visit – https://www.wiseguyreports.com/reports/4009953-surveying-and-mapping-global-market-opportunities-and-strategies
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