At 8.7% CAGR, the APAC Land Survey Equipment Market is projected to be worth US$ 5,587.96 million by 2028, says Business Market Insights         

According to Business Market Insights’ research, the APAC land survey equipment market was valued at US$ 3,379.14 million in 2022 and is expected to reach US$ 5,587.96 million by 2028, registering a CAGR of 8.7% from 2022 to 2028. Rising development in real estate and increasing growth of industrial & agriculture sectors are the critical factors attributed to the market expansion.    

Real estate is one of the world’s most recognized sectors. It comprises hospitality, housing, commercial, and retail. With the increasing urbanization, people are migrating to metropolitan cities. As a result of the growing population, property development is also increasing rapidly. In Japan, real estate is the third largest contributor to the country’s GDP, with the presence of over 3,50,000 real-estate companies. According to Savills, a real estate company in India, the real estate demand for data centers will increase by 15-18 million square feet by 2025. Due to growing urbanization and increasing household income, the demand for residential properties is increasing, resulting in India ranking among the top 10 international housing markets in terms of price appreciation. By 2023, the country’s organized retail real estate stock is expected to rise to 82 million square feet, i.e., by 28%. In June 2018, Leica Geosystems launched Leica BLK360, a technologically advanced portable 3D imaging laser scanner for real estate, construction, engineering, and architecture. Thus, real estate developments are positively influencing the demand for land survey equipment, which is driving the growth of the land survey equipment market across the region.

On the contrary, lack of skilled manpower hurdles the growth of APAC land survey equipment market.   

• Based on solution, the APAC land survey equipment market is segmented into hardware, software, and services. The hardware segment held 52.9% market share in 2022, amassing US$ 1,788.53 million. It is projected to garner US$ 2,823.72 million by 2028 to expand at 7.9% CAGR during 2022–2028.     
• Based on industry, the APAC land survey equipment market is segmented into mining, construction, agriculture, oil & gas, and others. The construction segment held 57.8% market share in 2022, amassing US$ 1,953.67 million. It is projected to garner US$ 3,136.25 million by 2028 to expand at 8.2% CAGR during 2022–2028. 
• Based on application, the APAC land survey equipment market is segmented into volumetric calculations, inspection, layout points, monitoring, and others. The inspection segment held 33.3% market share in 2022, amassing US$ 1,125.45 million. It is projected to garner US$ 1,935.48 million by 2028 to expand at 9.5% CAGR during 2022–2028.    
• Based on hardware, the APAC land survey equipment market is segmented into GNSS systems, levels, 3D laser scanners, total stations, theodolites, unmanned aerial vehicles, machine control systems, machine guidance systems, and others.  The GNSS systems segment held 26.7% market share in 2022, amassing US$ 477.58 million. It is projected to garner US$ 810.81 million by 2028 to expand at 9.2% CAGR during 2022–2028.       
• Based on country, the APAC land survey equipment market has been categorized into Australia, China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Philippines, and the Rest of APAC.  Our regional analysis states that China captured 38.8% market share in 2022. It was assessed at US$ 1,309.43 million in 2022 and is likely to hit US$ 2,306.44 million by 2028, exhibiting a CAGR of 9.9% during the forecast period.                   

Key players dominating the APAC land survey equipment market are GUANGDONG KOLIDA INSTRUMENT CO., LTD.; Hexagon AB; Hi-Target; PENTAX Surveying; Robert Bosch Tool Corporation; Shanghai Huace Navigation Technology Ltd.; South Surveying & Mapping Technology CO., LTD.; Suzhou FOIF Co., Ltd.; Topcon Corporation; and Trimble Inc., among others.  

• In 2021, Topcon Corporation announced that they have entered a contract with DDK Positioning Ltd. to supply Global Navigation Satellite System and hardware components. DDK Positioning will use Topcon's positioning system to deliver their MAX services to Oceaneering International, Inc.’s clients.

• In 2022, Hexagon AB introduced the new Leica GS18 I which is equipped with the company’s calibration-free, tilt-compensating GNSS solution which immune to magnetic disturbances, plus the power of survey-grade visual positioning. Also, it enables the measurement of points from images.  In addition, the solution can help the professionals to map areas that are difficult to reach physically, such as trenches, high power lines and busy roads, areas underneath bridges or canopies effortlessly from a distance. 

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