The global theodolite market is expected to register a healthy growth attributed to the growing need for making accurate measurements during the construction process.
Rockville, MD -- (SBWIRE) -- 06/14/2019 -- In order to dissert the market scenario prevailing across the theodolite market sector, FactMR has evenly presented a comprehensive theodolite market size analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the theodolite market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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With the growing need for application in sightseeing, land measurements, navigation and outdoor sports, demand for theodolite has continued to gain momentum in the global market. Bound with various multi-functional features such as rangefinder, nav calculator, compass, GPS, geo-overlay movie camera/photo, sales of theodolite will continue to rev up during the forecast period. FactMR states that the global theodolite market is expected to represent a value of over US$ 300 Mn by the end of 2022. Investigation of accidents, tactical observations, land surveying and landmark triangulations has led to a surge in demand for theodolites. Moreover, theodolite is equipped with features such as import/export map markers, data sharing and logging, and mapping. As government in various countries are pushing for development of smart cities, adoption of the electronic devices such as theodolite is likely to increase globally.
Development of Smart City to Impact Market Growth
Construction and surveying industry has further contributed towards growth of the global theodolite market. Government in various countries are increasingly looking for solutions that ensure smart, equitable and sustainable resources. As government in various countries continue to push for development of the smart city, adoption of the theodolite devices will continue to increase significantly.
Advanced Features to Create Lucrative Opportunities
Growing need for navigating and making accurate measurements has led to an upsurge in demand for theodolites in the global market. Apart from increasing application to measure and navigate, theodolites are also used as an augmented reality application that was released in the iPhone. Similar to the SpyGlass application, the theodolite electronic devices enable the end users to figure out directions and locations. Attributed to features such as two axis inclinometer, GPS, map and compass, theodolite devices operate as navigating device with enhanced features. Increasing need for measuring angles in the vertical and horizontal planes has led to an upsurge in demand for surveying applications.
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Growing application of theodolite for orology is further likely to underscore significant growth opportunities for the global theodolite market. As demand for re-measuring the mountain ranges in countries such as China and India continue to increase, adoption of the theodolite devices are expected to rev up during the forecast period. Moreover, manufacturers are increasingly integrating advanced technological features such as enhanced GPS and laser tracking attributes to offer high precision measurements. Growing need to make accurate measurements of the mountain ranges is expected to impact growth of the global theodolite market positively. On the other hand, various factors will continue to inhibit growth of the global theodolite market throughout the forecast period. Availability of the alternate devices for conducting surveys is likely to dip sales of theodolite devices. Moreover, limited availability of raw materials is likely to pose significant challenges to the manufacturers. These factors are expected to impact growth of the global theodolite market adversely.
Electronic Products to Boost Sales in Global Market
Growing need to construct buildings and institutions has led to an upsurge in demand for the electronic theodolite devices. On the basis of product type, the electronic segment is expected to generate significant revenues, accounting for a value of more than US$ 70 Mn by the end of 2022. This segment is expected to register a robust CAGR in the global market during the forecast period.
Based on application, the construction segment is expected to represent the highest revenue growth, representing a value of over US$ 80 Mn by the end of 2022. However, the construction segment and the industrial segment is expected to register the highest CAGR in the global theodolite market during the forecast period.
Leading market players operating in the global theodolite market include Hexagon AB, Topcon Corporation, Trimble, EIE Instruments, South Surveying & Mapping Instrument Co Ltd, Suzhou FOIF Co., Ltd., Survey Instruments Services Pte Ltd and Hilti Group.
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