Growing need for precise and accurate measurements in the construction industry has led to an upsurge in the demand for theodolite devices across geographies. In addition, integration of enhanced technology in theodolite devices is projected to impact global market growth positively. Fact.MR projects the global market to represent over US$ 900 Mn by 2031-end.
For More Insights Into The Market, Request a Sample of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=315
As demand for constructing, infrastructure development projects, and buildings continues to surge, adoption of electronic theodolite instruments are likely to remain on the rise. Based on product, the electronics segment is projected to represent the highest revenue growth, representing compound incremental dollar opportunity of more than US$ 70 Mn by 2031-end.
As per the revised report published by Fact.MR, the global theodolite market is anticipated to surpass a valuation of US$ 6.2 Bn in 2021, and expand at a CAGR of around 5.5% over the next ten years.
Key Takeaways from Market Study
- The global theodolite market is anticipated to add 1.7X value by 2031.
- Electronic theodolites capture a major chunk, equivalent to more than half of the global market share, and is set to create an absolute $ opportunity of around US$ 780 Mn over 2021-2031.
- Among the applications, construction theodolites has been the fastest-growing segment, owing to rise of the construction business globally over the past decade.
- North America is set to dominate market revenue in 2021, and the market here is expected to gain 89 BPS by 2031.
- Due to the COVID-19 crisis, demand for theodolites was hit in 2020, which witnessed a decline of 1.3% over the 2nd and 3rd quarters of the year.
Key Segments Covered in Theodolite Industry Research
Theodolite Market by Product Type
- Vernier Theodolite
- Optical Theodolite
- Electronic Theodolite
Theodolite Market by Application
- Theodolite for Construction
- Theodolite for Oil & Gas
- Theodolite for Mining
- Theodolite for Agriculture
Theodolite Market by Sales Channel
- Offline Channels
- Independent Small Stores
- Other Sales Channels
- Online Channels
- Offline Channels
Theodolite Market by Region
- North America Theodolite Market
- Latin America Theodolite Market
- Europe Theodolite Market
- South Asia Theodolite Market
- East Asia Theodolite Market
- Oceania Theodolite Market
- Middle East Africa Theodolite Market
Majority of theodolite manufacturers have started focusing on product launches and expanding their manufacturing units in developing countries such as China, India, Brazil, and Mexico. Strategies include innovation, collaboration with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.
- Hexagon launched HxGN AgrOn Logistics, an end-to-end harvest logistics solution for large-scale sugarcane and forestry producers, and acquired VIRES Simulations technologie GmbH, a provider of simulation software solutions.
- Trimble Inc. introduced the FieldPoint RTX correction service for geospatial positioning, which runs on the Trimble RTX technology.