Technology

Surveying Equipment Market size is set to grow by USD 2.72 billion from 2024-2028, Growth in railway sector in APAC to boost the market growth, Technavio

Published

2 months ago

July 16, 2024

NEW YORK, July 16, 2024 /PRNewswire/ — The global surveying equipment market size is estimated to grow by USD 2.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.46% during the forecast period. Growth in railway sector in APAC is driving market growth, with a trend towards growth in UAV market. However, uncertain macroeconomic conditions poses a challenge. Key market players include Aparna Agencies, FARO Technologies Inc., Guangdong Kolida Instrument Co. Ltd., Hexagon AB, Kongsberg Gruppen ASA, Ohmex Ltd., PASI srl, RTX Corp., Robert Bosch GmbH, Seafloor Systems Inc., Shanghai Huace Navigation Technology Ltd., South Surveying and Mapping Instruments Co. Ltd., SURVEY COPTER, Target Corp., Teledyne Technologies Inc., Thales Group, Topcon Positioning Systems Inc., Trimble Inc., Turner Morris, and Valeport Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Land application and Hydrographic application), Product (Total stations and theodolites levels, GNSS system, UAV, Pipe lasers, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and Africa, and South America

Key companies profiled

Aparna Agencies, FARO Technologies Inc., Guangdong Kolida Instrument Co. Ltd., Hexagon AB, Kongsberg Gruppen ASA, Ohmex Ltd., PASI srl, RTX Corp., Robert Bosch GmbH, Seafloor Systems Inc., Shanghai Huace Navigation Technology Ltd., South Surveying and Mapping Instruments Co. Ltd., SURVEY COPTER, Target Corp., Teledyne Technologies Inc., Thales Group, Topcon Positioning Systems Inc., Trimble Inc., Turner Morris, and Valeport Ltd.

Key Market Trends Fueling Growth

The global surveying equipment market is poised for significant growth due to the increasing adoption of unmanned aerial vehicles (UAVs) for civil applications. UAVs offer numerous advantages, such as rapid, cost-effective, and automated geospatial data acquisition in small and medium-sized areas. Both photography and topographic data can be generated, making UAVs an ideal solution for surveying hazardous or difficult-to-reach areas without human intervention. The US, a world leader in drone technology, is investing extensively in research and development to create the latest drone technology. The US military’s extensive experience with drones has led to the introduction of programs like UCLASS UAV for carrier-borne drone capability and research into stealth drones, high-altitude surveillance drones, and other advanced drone technologies. Israel and China are also investing heavily in drone production. Israel is producing UAVs for key roles within a broader surveillance-strike complex, while China has allowed numerous companies, both state-owned defense enterprises and private suppliers, to produce and develop UAVs. This has resulted in a diverse range of drone options for these governments, suitable for military and counter-terror operations. Therefore, the increasing use of UAVs in surveying, the US’s and Israel’s technological advancements, and China’s investment in drone production are expected to drive the growth of the global surveying equipment market during the forecast period.

The Surveying Equipment Market is experiencing significant growth due to trends in GPS/GNSS technology, urbanization, transportation networks, renewable energy projects, and automation and robotics. Hardware, software, and services are key areas of focus, with GPS systems, total stations, theodolites, levels, and UAVs leading the charge. Urbanization and industrialization require advanced technology for data collection and processing, leading to increased demand for skilled workforce and technical knowledge. UAVs, LiDAR systems, and drones are revolutionizing data collection and management in industries like mining & construction, oil & gas, and disaster management. Cutting-edge technology includes visual SLAM technology, digital twin creation, and integrated smart antennas. The transportation sector relies on GNSS network solutions and time-saving processes. Renewable energy projects and smart cities require advanced software for data processing and documentation. The market also caters to specialized industries like nuclear facilities and research and planning. Modular GNSS systems, board-level GNSS receivers, and antennas are essential components of survey equipment portfolios. The future of surveying equipment lies in automation, data management, and advanced technology.

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Market Challenges

The construction industry’s growth is influenced by economic conditions, both nationally and regionally. The US and global economies have experienced moderate to slow growth and significant volatility, negatively impacting the industry. Economic uncertainty may cause customers to delay spending due to tighter credit, income declines, or negative financial news. Non-residential real estate markets, labor and healthcare costs, access to credit, and other macroeconomic factors also affect construction demand. Delayed or canceled projects due to depressed foreign direct investments and delayed government subsidies are expected to hinder market growth during the forecast period.The Surveying Equipment Market faces challenges in various industries such as nuclear facilities and construction. The integration of cutting-edge technology like GNSS systems, total stations, theodolites, and unmanned aerial vehicles (UAVs or drones) is crucial for efficient data collection and processing. The oil & gas industry and disaster management sector heavily rely on surveying equipment for exploration drilling, pipeline management, and volumetric calculations. Advanced software and management systems aid in research and planning, data management, documentation, and inspection. Industrialization leads to an increased demand for time-saving processes and skilled manpower. LiDAR systems and aerial platforms offer solutions for complex land survey methods. GNSS network solutions, integrated smart antennas, and modular GNSS systems ensure accurate reference stations. The agriculture, mining, and mining software industries also benefit from surveying equipment for layout points and exploration.

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Segment Overview

This surveying equipment market report extensively covers market segmentation by

Application 1.1 Land application1.2 Hydrographic applicationProduct 2.1 Total stations and theodolites levels2.2 GNSS system2.3 UAV2.4 Pipe lasers2.5 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Land application- The global surveying equipment market is experiencing significant growth due to increasing investments in infrastructure projects, particularly in the construction of bridges, highways, roads, and expressways in countries like the US, Chile, Brazil, China, India, and other emerging Asian economies. The expansion of high-speed rail networks in China and Europe, as well as in North America, is a major driver of this growth. In Europe, there is a strong demand to connect various regions, while in North America, Mexico, the US, and Canada are investing in high-speed rail to alleviate traffic congestion. These infrastructure developments will require advanced surveying equipment to ensure accuracy and efficiency, leading to the market’s continued expansion during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global retail automation market is experiencing rapid growth driven by the demand for enhanced customer experiences and operational efficiency. Automation technologies such as AI, robotics, and IoT are transforming traditional retail processes, including inventory management, checkout systems, and customer service, leading to reduced costs and improved service delivery.

The global online survey software market is expanding due to increasing adoption by businesses for gathering customer feedback, market research, and employee engagement. Key trends include mobile compatibility, advanced analytics, and integration with CRM systems. These platforms enable organizations to streamline data collection, gain actionable insights, and make informed decisions swiftly and efficiently.

Research Analysis

The Surveying Equipment Market is experiencing significant growth due to various factors, including the increasing use of GPS/GNSS technology in land surveying, urbanization, and the development of transportation networks. Renewable energy projects also contribute to the market’s expansion, as advanced technology and automation through robotics and drones are essential for data collection in these sectors. The market requires a skilled workforce with technical knowledge to operate the complex land survey equipment, such as total stations, theodolites, levels, and GNSS systems. The oil & gas industry and industrialization are other major drivers, with time-saving processes and data collection being key benefits. The market is also witnessing the integration of software solutions to enhance the functionality and efficiency of surveying equipment.

Market Research Overview

The Surveying Equipment Market is experiencing significant growth due to various factors, including the increasing urbanization and transportation networks development, renewable energy projects, and the need for automation and robotics in the industry. The market is driven by advanced technology such as GPS/GNSS technology, which enables time-saving processes and high-precision data collection. The market also includes hardware, software, and services, with UAVs, total stations & theodolites, levels, and LiDAR systems being popular equipment types. The market caters to various industries, including mining & construction, smart cities, nuclear facilities, oil & gas industry, disaster management, and industrialization. The use of cutting-edge technology, such as digital twin creation, visual SLAM technology, and advanced software, is becoming increasingly common. The market also offers solutions for data processing, documentation, and management systems for research and planning. The market requires a skilled workforce with technical knowledge and expertise in various survey methods, such as GNSS network solutions, integrated smart antennas, modular GNSS systems, and board-level GNSS receivers. The market also includes reference stations, inspection, monitoring, volumetric calculations, layout points, and construction software for agriculture, mining, and oil & gas industries. Exploration drilling and pipeline management are also significant applications for surveying equipment.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationLand ApplicationHydrographic ApplicationProductTotal Stations And Theodolites LevelsGNSS SystemUAVPipe LasersOthersGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Nuvve Updates Shareholders on Compliance Measures

Published

5 mins ago

September 25, 2024

SAN DIEGO, Sept. 24, 2024 /PRNewswire/ — Nuvve Holding Corp. (Nasdaq: NVVE), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq’s Bid Price Rule.

Nuvve recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. The Company encourages shareholders to protect their shares against market manipulation through actions such as holding shares in cash accounts and requesting “no loan” status.

For shareholder letter: https://nuvve.com/shareholder-letter/

For more information, contact investors@nuvve.com.

About Nuvve Holding Corp. Nuvve (Nasdaq: NVVE) transforms electric vehicles into grid resources, driving the transition to a net-zero future. Learn more at nuvve.com

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SOURCE Nuvve Holding Corp.

Technology

Wire and tube industry expos to spark international trade in Shanghai

Published

5 mins ago

September 25, 2024

SHANGHAI, Sept. 25, 2024 /PRNewswire/ — The wire China 2024 and Tube China 2024, organized by Shanghai Electric Cable Research Institute Co., Ltd., Messe Düsseldorf (Shanghai) Co., Ltd., Metallurgical Council of the China Council for the Promotion of Int’l Trade (MC-CCPIT), are scheduled to be held from September 25 to 28 at the Shanghai New International Expo Centre, aiming to drive industry advancement and foster connections.

This year, the two expos will span 10 pavilions, encompassing a total exhibition area of 109,250 square meters. Nearly 1,500 businesses from about 30 countries and regions are expected to participate. The two exhibitions will cover the entire industry chain of cables, wires and tubes, offering a professional and efficient one-stop platform for exchanges worldwide.

wire China 2024: supporting enterprises to foster new quality productive forces

The wire China 2024 event is poised to occupy an area of 80,500 sqm, setting a milestone in its growth trajectory. With the participation of nearly 1,100 enterprises from 26 countries and regions, the expo will serve as a platform to showcase the latest developments and trends in the industry.

The exhibition will showcase an array of offerings including wire and cable manufacturing and processing machinery, auxiliary cable processing equipment, raw and auxiliary materials for cables (optical cables), finished wire products and cables, measurement and control technology, testing engineering solutions. The showcase is designed to assist enterprises in accelerating their transition toward digitalization, fostering flexibility, enabling smart production, nurturing new quality productive forces and enhancing the production competitiveness of businesses. The 2024 edition will cover five major areas: Digital Intelligent & Innovative Equipment, Technology Tools & Auxiliary Materials, Green and Low-carbon Solutions, Wires & Cables and Measures & Control Technology.

China has been promoting development of new quality productive forces since the start of 2024, with burgeoning sectors like artificial intelligence; new materials; commercial aerospace; the low-altitude economy and smart connected vehicles. These innovations are infusing the wire industry with vitality and drawing the attention of numerous overseas enterprises to China. This year, the event will host businesses from countries and regions such as South Korea, Japan, the United States, Switzerland, the United Kingdom, Spain and Turkiye. Business delegations from Germany, Italy, France and Austria will be present at the W1 Pavilion to exhibit their innovations and latest breakthroughs.

Heavyweight participants

This year, the event has garnered robust backing from prominent industry associations, including the Asian Wire & Cable Industry Corporation Alliance (AWCCA); Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK); the Association of the German Trade Fair Industry (AUMA); the German Mechanical Engineering Industry Association (VDMA); the ITA/ICE-Italian Trade Agency (ITA); the Italian Wire Machinery Manufacturers Association (ACIMAF) and the Austrian Federal Economic Chamber (WKÖ).

List of some well-known participating brands:

NIEHOFF, WAFIOS, SIKORA, MAILLEFER, ROSENDAHL NEXTROM, BOROUGE, SAMP, PROTON, ELANTAS, ENEOS NUC, HANWHA, TOTOKU, KOS, MFL GROUP, TEIJIN ARAMID, ZUMBACH, EUROLLS, SWPG, ESTEVES, SHENG CHYEAN, PETROFER, HUNTSMAN, DSR, SMATER, SINGCHEER, HONTA, G.Y.M., HANDING, JCDOFAMA, XINGMING, GOLDEN TECHNOLOGIES , INOVANCE, DONY GROUP, LIQIANG MECHANICAL & ELECTRICAL, AEROSPACE NANHAI, YI TENG ELECTRIC, HUAYUAN, PANGHAO, WANMA MACROMOLECULE, TIANRONG, CGN GROUP, CABLE, ORIGINAL, PAMICA, QLPM, ATPOIMER, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Fostering new quality productive forces

Centering on digital intelligence and innovation, the expo will be a key platform to display products and services. Singcheer will introduce the SiMOM for remote collaborative manufacturing operations and an AGV logistics system tailored for the cable industry. Maillefer from Finland will showcase the latest AI panoramic scanner 2.0, while Inovance from Shenzhen will present a motorized cable extrusion solution using advanced control algorithms and the MD810 multi-drive. These digital intelligence and innovation products cover manufacturing equipment, industrial software, visual inspection and other specific businesses, empowering cable companies to transit toward intelligent manufacturing.

Leading new trends

The wire China 2024 is not just a trade platform, but a place to communicate the latest market trends and release new products and solutions. This year, there will be nearly 60 high-end technological communication events.

The annual China Wire and Cable Industry Annual Conference will have in-depth discussions on new quality productive forces and high-quality development. Participants will share opinions on new market opportunities and challenges, exchange insights on the market trends, analyze the development status of the wire and cable industry, release annual reports on the development of international and domestic cable standardization work, as well as business competitiveness analysis reports. Simultaneously, the conference will address quality and technical issues related to typical products, unveil significant common technical research accomplishments and identify challenges and hurdles in emerging technological domains within the cable industry. The event aims to inspire businesses, bolster their confidence, foster courage in confronting challenges, and contribute to enhancing the development standards of both the industry chain and the supply chain.

The themed forums for wire and cable businesses will cover industrial economics and the development of the cable industry; the role of intelligent equipment in supporting high-quality development; green and low-carbon innovations in cable materials; high-quality special materials aiding the development of new energy vehicles; efficient and energy-saving electrical equipment; cable industry resource recycling technologies and digital intelligence empowering the development of the cable manufacturing industry.

Tube China 2024: 20 years of companionship, jointly shaping the new future of the industry.

As one of leading professional expos for tubes in Asia, Tube China 2024 has a total exhibition area of 28,750 sqm. Nearly 400 brands from 13 countries and regions including Germany, Japan, South Korea, Italy, the Netherlands, Latvia, Norway, Switzerland, and the United Kingdom will participate in the event. Tube China will present a high-level industry feast of intelligence and tube manufacturing for the Chinese tube industry and its upstream and downstream sectors.

This year, the expo will welcome some first-time participants including Fanuc. Industry-leading players including Fanuc, IPG, Kinkelder, Stark, Inductotherm, SINOAUDE, Halifax Fan and ENRX will bring their latest developments to the event. Enterprises such as IPG, Changen, Longxin, Huibaisheng and Huinengda will focus on showcasing innovative products and applications related to lasers and optoelectronics; optics and optical manufacturing; testing and quality control; as well as the innovative products and application solutions of infrared technology and applications.

List of some well-known participating brands:

FANUC, IPG, KINKELDER, STARK, INDUCTOTHERM, SINOAUDE, HALIFAX FAN, ENRX, HUIBAISHENG, SINOFORM, CHANGEN, HANDUK, KTM, TOYOKOHAN, TAELIM, VICTAULIC-TUWEI, TEMA, DONGAN, FIELD, AMPCO, ARES, JINYI, SONGYANG STAINLESS STEEL INDUSTRY ASSOCIATION, CHENLONG, ZHONGYONG, CHANGFENG, WAN-RUN DA , BOKENA, TUS PIPE, LONGXIN, NANYANG, CONTOR M & E, SHENGTIAN, NEW VICTOR, HUAYANG, HUILITONG, BAOFENG, JINCHUANG XINTIAN, HAIQIANWEI, FUGANG, ASCENDING, JUYI, LIWAN, VICTORY, ZHONGHAO, YOUFA, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Concurrent events, including the China International Steel Tube & Pipe Summit and the 2024 Heat Treatment Technology Seminar, will be organized during the expo to enhance communication, foster partnerships, drive technological innovation and uphold high-quality development within the industry.

A variety of activities will be organized to celebrate the 20th anniversary of the annual expo and the longstanding support from all participants of the expo.

Looking ahead, organizers of wire & Tube China will continue to promote development of the event to promote exchanges and bolster quality development of the industry.

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SOURCE Messe Düsseldorf Shanghai

Technology

PayMongo and Brankas Now Offer the Widest Range of Payment Options in the Philippines

Published

5 mins ago

September 25, 2024

Enable seamless, secure, and direct online banking payments with Brankas through PayMongo, featuring top Philippine banks BDO, Metrobank, and Landbank.

MANILA, Philippines, Sept. 25, 2024 /PRNewswire/ — PayMongo has partnered with Brankas to add new payment options to the PayMongo platform, making it the payment gateway with the widest range of payment options for Filipino businesses. PayMongo payment options include credit cards, e-wallets, BNPL, QRPh, and online banking. PayMongo merchants can now accept direct online banking payments from three additional Philippine banks — BDO, Metrobank, and Landbank — offering greater convenience and flexibility for both merchants and customers.

eCommerce stores, food delivery websites, ride-hailing apps, and gaming platforms that are PayMongo merchants can accept more forms of payments by integrating Brankas Direct API. This pay-by-bank channel is another trusted payment method that makes transactions faster and enhances the overall payment experience for users.

“Brankas and PayMongo share the same commitment to deliver fast and secure payment experience for users. Offering more payment options is a win-win for both customers and merchants as we offer greater payment flexibility and customer reach at the same time.” said Todd Schweitzer, Brankas CEO and Co-founder.

How to Get Started with Brankas Direct

To start accepting direct online banking payments, existing PayMongo merchants simply need to contact PayMongo Customer Support to request the activation of BDO, Metrobank, and Landbank payment options. The feature is available for Shopify plug-in users, PayMongo’s Custom & Checkout API, PayMongo Pages, and PayMongo Links. Users of the custom API require minimal updates, and the PayMongo developer website provides the full details.

Ready to enhance your payment offerings and provide a better customer experience? Enable Brankas Direct through PayMongo now. Visit Brankas Direct or PayMongo to learn more.

About PayMongo

PayMongo is a leading financial infrastructure platform in the Philippines, designed to simplify how businesses manage their finances. From payment processing to embedding financial services, PayMongo provides solutions that enable businesses to accept payments both online and in-person, streamline financial operations, and drive profitability. By offering a wide range of payment options and seamless integration, PayMongo empowers businesses to grow their revenue and succeed in the digital economy.

About Brankas

Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas’ secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

Media Enquiries:

Yiyang Teo
yiyang.teo@brank.as

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SOURCE Brankas