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I AgreeAnalysis of Surveying & Mapping Services market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global surveying and mapping services market reached a valuation of US$ 9 billion in 2021 and is expected to further evolve at a CAGR of 3.4% to end up at US$ 13 billion in 2032.
Revenue from surveying and mapping services accounted for nearly 4% of total spending on geospatial services at the end of 2021.
Report Attributes |
Details |
---|---|
Surveying and Mapping Services Market Size (2021A) |
US$ 9 Billion |
Estimated Market Value (2022E) |
US$ 9.3 Billion |
Forecasted Market Value (2032F) |
US$ 13 Billion |
Global Market Growth Rate (2022-2032) |
3.40% CAGR |
North America Market Share (2021) |
~24% |
North America Market Growth Rate (2022-2032) |
~3.5% CAGR |
United States Market Growth Rate (2022-2032) |
~3.6% CAGR |
Market Share of Top 5 Companies |
~27% |
Key Companies Profiled |
|
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The surveying and mapping industry has witnessed some of the most promising innovations in recent years. Drones, light detection and ranging (LiDAR) technology, and global positioning systems (GPS) are some of the technologies that are positively impacting the geospatial industry.
Continuous adoption of technology in different industries such as automotive, land surveying, and oil & gas exploration will be key factors driving the demand for geospatial services.
Over the 2017-2021 study period, the global surveying and mapping services market evolved at a CAGR of 3.2%. According to the latest industry publication by Fact.MR, a market research and competitive intelligence provider, worldwide demand for surveying and mapping services is projected to increase at 3.4% CAGR from 2022 to 2032.
Market share analysis of surveying and mapping services based on service and region provided in the above image. Under the service segment, topographic surveys account for a leading market share of 46%.
“Rising Urbanization & Rapid Development of Smart Cities”
Increasing population and rapid urbanization are stimulating the demand for civil infrastructure across the world. Also, smart cities are developing prominently worldwide as they offer a comprehensive digital environment. This digital environment is boosting the security & efficiency of urban systems.
To establish a successful smart city, demand for a digital system like mapping is required, which can visualize and manage the geospatial data in a user-friendly environment. There are over 250 smart city projects ongoing in 178 cities around the world that enjoy huge government spending on energy initiatives, building, transportation, and others, which has been driving the need for efficient surveying and mapping services.
“High Requirement from Oil & Gas Industry”
The oil & gas industry is one of the crucial parts of economy & infrastructure development for any country. Since crude oil & gas are found in deeper layers of the Earth’s crust, it requires precise mapping & imaging technologies for efficient exploration and the drilling of oil wells, which is why the demand for geospatial services is growing all the time.
These services are expected to have tremendous utility in the oil & gas industry to facilitate advanced mapping and spatial analytics, along with enhancing operational efficiency through rich location intelligence.
Increasing production of crude oil across the world is expected to drive the demand for geospatial services.
“Emergence of Laser Scanning & Modeling Technology”
Technology advancements can be a key factor for a company providing geospatial services. Companies reinventing strategy and integrating technology in service offerings and viz.a.viz gain a competitive advantage in this space.
A line of laser light is used in 3D laser scanning, a non-contact, non-destructive method, to digitally capture the geometry of actual items. Scanners can effectively record the shape of physical items as a 3-dimensional representation in the digital world with 3D laser scanning technology. These built-in qualities will create huge demand for this technology among end users.
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“Lack of Skilled Professionals for the Job”
Across the world, many industries are facing a shortage of skilled professionals, difficulty in attracting new talent, and retention of existing employees. For example, the land survey industry is facing challenges to cope with the requirement for skilled professionals. Increasing educational requirements and licensure is one of the prominent factors behind the shortage of skilled professionals, as many state boards across the world require a person to pass a four-year degree before joining work in the surveying field.
Increasing rate of retirement among the current surveyors is also resulting in the dearth of skilled professionals in the market. For instance, around 14% of presently licensed surveyors are under 34 years of age. This has been caused by the surging retirement rate of skilled surveyors and fewer available opportunities in the surveying profession for the younger population.
The United States surveying and mapping services market is currently estimated at US$ 1.83 billion and is expected to reach US$ 2.71 billion by 2032.
New infrastructure development is accelerating the demand for mapping services in the United States, as it helps in analyzing and deciding the location of important proposals for new infrastructure. It also helps in rural area improvement plans, development of cities, land use plan, and others.
Increasing production of crude oil is also driving the need for surveying and mapping services in the United States.
For the last 3 decades, China has been one of the fastest-growing economies in the world and continues to grow at a higher pace in comparison to most other major countries. This growth has benefitted sectors such as urban development, infrastructure, and transportation, among others.
Apart from the above-mentioned industries, the mining & energy sector makes significant use of geospatial services. China accounts for a significant share across the globe in the production of aluminum, tin, steel, coal, and other compounds. The mining industry plays a crucial role in the overall Chinese economy.
As a result, demand for geospatial services in China has been significantly high and is expected to grow over the coming years as well. The China surveying and mapping services market is expected to reach US$ 2.89 billion by the end of 2032.
Increase in infrastructure spending and investments worldwide is creating an opportunity for industry stakeholders to provide advanced topographic survey services. Specific demand for topographic services is projected to remain higher than the average industry growth over the span of the next ten years.
As it efficiently helps in visualizing a building or area of land that is proposed to be developed, it creates accurate mapping & results in minimizing or eliminating future boundary disputes.
The topographic survey segment is expected to evolve at a CAGR of 3.4% over the forecast period.
Geospatial services offer real-time traffic information about cars, roads, pedestrians, and others. With the increasing adoption of mapping platforms in autonomous cars, demand for these services in the automotive industry is growing at a rapid pace.
Prominent surveying and mapping service providers are American Surveying & Mapping, Inc., Autodesk Inc., 40Seven Ltd., African Consulting Surveyors, Datapoint Surveying & Mapping, E.L.S. Surveying & Mapping, Inc., Alwarqa Survey Engineering, Apex Surveys, LLP, Asia-Pacific Surveys Ltd., Harris Corporation, Cardno Limited, Compass Surveying & Mapping, LLC, J.D. BARNES LTD, Dynamic Map Platform Co., Ltd., Polosoft Technologies Pvt Ltd., Fugro N.V., Stantec Inc., Surveying & Mapping LLC, Tetra Tech Inc., Topcon Corporation, Mott MacDonald Limited, Secom Group, AECOM, and Trimble Inc.
The global geospatial services market is fragmented and competitive due to the presence of several domestic and global market players. Various marketing strategies are adopted by key players, such as expansions, collaborations, and partnerships.
New product development, as a strategic approach, is being pursued by major companies to drive their market presence across regions.
Fact.MR has provided detailed information about the providers of surveying and mapping services positioned across regions, sales growth, and product offering expansion, in the recently published report.
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The global surveying and mapping services market is valued at US$ 9.3 billion in 2022.
Revenue from surveying and mapping services is anticipated to reach US$ 13 billion by the end of 2032.
During 2017-2021, demand for surveying and mapping services increased at 3.2% CAGR.
East Asia leads the global market for surveying and mapping services accounting for 32% share.
Topographic surveys account for a high market share of 46%.