According to a new report, published by KBV research, The Global Total Station Market size is expected to reach $2.1 billion by 2027, rising at a market growth of 6.0% CAGR during the forecast period.
The Hardware segment has acquired maximum revenue share in the Global Total Station Market by Offering 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1.5 billion by 2027. The hardware segment is observing a surge in growth due to the increasing technological development across the hardware of total station devices. Advanced technologies across the hardware are bringing enhancements in the overall functions of the total station instrument. For instance, the microprocessor is a part of the hardware in the total station which enables the computation of the data that is gathered by EDM. With the increasing advancements of the technology comprised in it, microprocessors are delivering more accurate results.
The Robotic segment has growth rate of 7.6% during (2021 - 2027). The utilization of robotic manual stations in a broad line of industries is increasing due to the advanced features of these devices, such as a lesser requirement of human efforts. In addition, robotic total stations are far more convenient to use in comparison to other total stations. A single person is required to operate the robotic total station, due to which, the requirement for human resources decreased. This attribute makes the total station, a more cost-effective solution.
The Oil & Gas market is showcasing a CAGR of 6.6% during (2021 - 2027). Employing a total station in the measurement of oilfields facilitate the scanning of the location, owing to its highly precise hardware. In addition, oil and gas operations are usually found in remote locations. Moreover, it allows the user to monitor various activities, such as pump operations, as well as to analyze and collate seismic data.
The North America market dominated the Global Total Station Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $710.8 million by 2027. The Europe market is anticipated to grow at a CAGR of 5.2% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 7.7% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/total-station-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Beijing UniStrong Science & Technology Corporation Limited, Laser Technology, Inc., Hexagon AB, Topcon Corporation, Trimble, Inc., South Surveying & Mapping Technology Co., Ltd., Guangdong Kolida Instrument Co., Ltd., TI Asahi Co., Ltd., Horizon SG, and Hi-Target Global.
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