The new report by Expert Market Research titled, ‘Global Underground Utility Mapping Market Share, Size, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global underground utility mapping market, assessing the market based on its segments like technological solutions, components, services, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 11.5%
The increasing application of underground utility mapping technique in various industries such as oil and gas, and construction, among others, to reduce the time of planning a project, regulate safety, and avoid surprises, is driving the market growth.
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Over the forecast period, the anticipated increase in demand for underground utility mapping to lay down oil and gas pipelines and national defence communication line across the emerging economies is likely to be a crucial driving factor. In terms of region, North America accounts for a significant share in the market owing to the advanced utility infrastructure in the strongly emerging economies such as India and China.
Underground Utility Mapping Industry Definition and Major Segments
Underground utility mapping is defined as a process of analysing and understanding the underground content. Underground utility mapping uses high-end technologies such as ground penetrating radar equipment (GPR) and electro-magnetic locators (EML), to provide a highly detailed information about something that is buried underground. It is applicable in various industries where the underground content is not visible to the naked eye.
On the basis of technological solution, the market can be segmented into:
- Electromagnetic Induction
- Ground Penetrating Radar
Based on component, the market has been bifurcated into:
- Technological Solutions
By services the market has been categorised into:
- Professional Services
- Managed Services
The significant end use included in the market are as follows:
- Oil and Gas
- Government and Public Safety
The regional markets for underground utility mapping include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Underground Utility Mapping Market Trends
The key trends in the underground utility mapping market include the rising investments in wastewater projects which is likely to generate demand for water mains and water pipes. This, in turn, will propel the demand for efficient underground utility mapping. The emerging innovative technologies in the underground utility mapping, such as land surveyors equipped with LiDAR and GIS technology are likely to be the crucial trends in the market.
Moreover, the market is anticipated to be positively navigated by the increasing efforts of power suppliers aimed towards reducing the risk of accidents during excavation caused by inaccurate information pertaining to the piece of land.
Key Market Players
The major players in the market are Sensors & Software Inc., Vivax-Metrotech Corp., multiVIEW Locates Inc., Guideline Geo AB, Global Detection Solution Sdn. Bhd., Plowman Craven Limited, ProStar Geocorp, and Cardno Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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