Global Surveying & Mapping Services Market was worth US$ 9 billion in 2021 & is expected to expand at a CAGR of 3% during the forecast years of 2022-2032
The survey and mapping industry has significantly benefited from drone technologies, since UAVs are less expensive and more accessible as compared to traditional methods. Conventional surveying methods require rental aircraft and trained pilots, along with attached recording instruments, which is a costly and resource-intensive process. The introduction of UAVs has substantially created a future opportunity for surveying & mapping services to gather spatial information in a tighter structure. This also allows the collection of geospatial information with easy storage, processing, and sharing capabilities.
- For instance, in May 2022, PDRL, an India-based software company, introduced a SaaS platform – DroneNaksha – under the Svamitva Yojana scheme by the Government of India for mapping land parcels using drone technology across the country.
- Similarly, in March 2022, Australia-based Emesent introduced Hovermap ST autonomous drone LiDAR mapping and surveying payload.
The integration of advanced technologies such as Wi-Fi, first-person view (FPV) cameras, and GPS technology to make UAVs highly flexible and eliminate the need for a skilled pilot is expected to stimulate the demand for drones for survey and mapping activities, thereby driving market expansion.
Key Takeaways from Market Study on Surveying & Mapping Services Market
· The global surveying & mapping services market is projected to expand at a CAGR of 3.4% and reach US$ 13 billion by 2032.
· Over the 2017-2021 historical period, the market evolved at 3.2% CAGR.
· Under end-use industry, forestry and agriculture accounts for a leading share in the market at a valuation of US$ 1.80 billion in 2021.
· North America and East Asia account for leading shares in the global mapping services market at 24% and 32%, respectively.
Surveying & mapping service providers to benefit immensely from the use of UAVs, which are much more economical than employing the services of an aircraft with a pilot and related instruments,” says a Fact.MR analyst.
Market Development
The global surveying & mapping services market is expected to grow at a steady pace over the study period. The market is projected to have potential growth opportunities despite extreme competition in the industry.
Furthermore, technological advancements is one of the major strategic moves that is being adopted by market players to gain a large consumer base. Through prominent R&D investments, market participants are enhancing their focus on the introduction of innovative and technologically advanced services to customers.
Competitive Landscape
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.
- In early 2018, Baidu Inc., a China-based Internet service company, announced that it has collaborated with TomTom NV, a Netherlands mapping company, to offer high-definition integrated maps to its Apollo autonomous-vehicle software.
- In April 2019, Ambarella, a developer of high-solution computer vision semiconductors and video processing from California), and Momenta, a China-based autonomous driving technology company, announced the introduction of a collaborative HD mapping platform for autonomous vehicles. The product is designed to offer HD map solutions such as localization, mapping, and updates through crowdsourcing.
- In March 2022, Australia-based Emesent introduced the Hovermap ST autonomous drone LiDAR mapping and surveying payload.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global surveying & mapping services market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of service (topographic surveys, hydrographic surveys, and cadastral surveys) and end-use industry (environment monitoring & control, defense & aerospace, utility & energy, oil & gas exploration, infrastructure & urban planning, forestry & agriculture, mining & mineral exploration, and other key application areas), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
These insights are based on a report on Surveying & Mapping Services Market by Fact.MR.
