Northbrook, IL -- (SBWIRE) -- 01/27/2022 -- According to the new research report, the "Total Station Market with COVID-19 Impact Analysis by Offering (Hardware, Services), Type (Manual, Robotic), Application (Construction, Agriculture, Oil & Gas, Mining, Transportation, Utilities, Forensic) and Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Total Station Market size is estimated to reach USD 2.2 billion by 2027, registering a CAGR of 6.1% from 2022 to 2027. The growth of the total station market can be attributed to the expanding construction industry, high urbanization rate in developing countries, and growing investments in the development of transportation infrastructure. The robotic total station market is estimated to exhibit the highest CAGR from 2022 to 2027 due to the growing adoption of these stations attributed to their higher accuracy and advance features as compared to traditional surveying equipment.
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Hardware segment to hold a larger share of total station market during the forecast period
Hardware segment to hold a larger market share of total station between 2022 and 2027. The increasing demand for precise, error-free measurements in the surveying application is fueling the demand for total stations. Moreover, the rising income levels, especially of the middle-class population, across the globe has created a high demand for new modernized building structures in the residential sector. Also, the rising need for world-class infrastructure in airports and railway stations has created growth opportunities for the providers of total stations in the commercial sector. The positive growth outlook of these sectors is consequently projected to increase the demand for total stations during the forecast period.
Demand for robotic total stations is expected to grow at a higher CAGR during the forecast period
The growth of the robotic total station market is attributed to their increasing demand in various industries. Robotic total stations are much easier to use and highly preferred over manual total stations. The manual total station needs a two-person operation, whereas the robotic total station requires a one-person operation. Robotic total stations are costly in comparison to manual total stations, but they are cost-efficient and time-saving. Thus, the use of robotic total stations enhances both accuracy and efficiency of the layout process on the construction site, and their adoption has been increasing at an impressive pace across industries. Companies like Hexagon AB, Trimble Inc., and Topcon Corporation provide both manual as well as robotic total stations, and they are focusing on further enhancing their robotic total stations by integrating advanced features and technologies.
Browse in-depth TOC on "Total Station Market"
203 – Tables
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224 – Pages
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APAC to exhibit highest CAGR in total station market from 2022 to 2027
The growing population, rising urbanization, and expanding construction industry in emerging economies such as China and India are the key factors driving the growth of the APAC total station market. In these countries, geospatial technologies are being utilized for construction, mining, agricultural activities, and rural development over the past decade. Companies belonging to various sectors and industries, such as construction, mining, manufacturing, transportation, and agriculture, are using total stations and geospatial information to make strategic decisions about the feasibility of large construction projects. Surveying and mapping technologies are widely used in APAC. The development of smart cities in China, India, and several countries in South-East Asia has driven demand for total stations.
Major companies operating in this total station market include Hexagon AB (Sweden), Trimble Inc. (US), Topcon Corporation (Japan), Suzhou FOIF Co. Ltd. (China), and STONEX Srl (Italy).
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