Robotic Total Stations Market Size, Share, Growth, and Industry Analysis, By Type (0.5 Below Accuracy Below 2, 2 Below Accuracy Below 5) By Application (Construction, Heavy/Precious Industry and Others), Regional Insights, and Forecast To 2031

Updated On: 29 April 2024

Robotic Total Stations Market REPORT OVERVIEW

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The global robotic total stations market size was USD 1099.9 million in 2022 and market is projected to grow USD 1796 million by 2031, exhibiting a CAGR of 5.6% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the global robotic total stations market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

An electronic device that enables remote control operation is known as a robotic total station (RTS). It is widely used for surveying, excavating, building dams, and installing chimneys, as well as measuring vertical and horizontal angles. It functions as a combination of an electronic distance metre and an electronic theodolite and is used for computations and inspection. A CPU, integrated camera, and electronic data collector make up the RTS, an integrated system. It offers improved speed, quality assurance, fewer errors, and cost-effectiveness in addition to more precise measurements. RTS covers coordinate measurement, angle measurement, coordinate processing, and distance measurement. It has a wide range of applications in many different industries, including mining, construction, and utilities.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.

LATEST TRENDS

"Growth of the market in recent years"

Civil engineers and archaeologists typically employ robotic total stations for topographical and geographic surveying. Robotic total stations are used for land surveying in industries including meteorology, mining, and mechanical and electrical construction. Robotic total stations are also utilised in important application fields like precision agriculture, transportation planning, and highway and roadway maintenance. The robotic total station also has advantages over a total station, such as accurate coordinate calculation with high measurement precision and the elimination of human error in recording and reading.

Robotic Total Stations Market SEGMENTATION

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• By Type

Based on type the global robotic total stations market is classified as 0.5" below accuracy below 2", 2" below accuracy below 5".

• By Application

Based on application the global robotic total stations market is classified as construction, heavy/precious industry, others.

DRIVING FACTORS

"Utilization as a Catalyst to Boost the Market Growth "

One of the main factors propelling the market expansion is the global construction industry's significant rise. RTS is frequently utilized to improve accuracy and productivity since it makes the construction designing process much simpler. Accordingly, the market is expanding due to the rising demand for robotic total stations, which are modernizing surveying equipment and procedures for precise coordinate calculation, land surveying, and reducing manual errors of recording and reading. Due to the advancement of surveying equipment and methods for land surveying, the construction industry is increasingly using robotic total stations, which is a key element in the market's growth. The use of robotic total stations by insurance firms for accident investigations on highways, crime scene location, and land investigation is another factor boosting the market for such devices.

"Extensive Application in Laundering Process to Multiply the Production and Market Growth"

Additionally, a number of technological developments, including the fusion of the Internet of Things (IoT) and GPS for real-time monitoring of productivity and safety, are boosting market expansion. Additionally, the market growth is being positively impacted by the rising product demand for accident investigations on highways, crime scene locations, and land investigations. A bright outlook for the market is also being created by the quick product acceptance in precision farming, transportation planning, highway and roadway management, and the rising product demand by manufacturers for the creation of smart cities.

RESTRAINING FACTORS

"Several Challenges Associated with the Local Irritation to Restrain the Market"

Robotic total stations are chosen over manual total stations due to their operational advantages and technological advancement. The highway and road industry offers a sizable potential opportunity for the robotic complete station market. Additionally, during the projection period, the demand for these robotic total stations is anticipated to be driven by the industries of utilities, mining, and civil engineering. The prevalence of GPS and laser scanning as alternatives to traditional land surveying methods, however, restrains the market expansion for robotic total stations. Furthermore, substantial growth potential for the robotic total station maker are provided by the development of smart cities and the expanding construction sector.

Robotic Total Stations Market REGIONAL INSIGHTS

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"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

The United States, Canada, Mexico, Europe (Germany, France, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) are the four geographical areas that make up the analysis of the global robotic total station market. Throughout the study period, Asia-Pacific is anticipated to hold the highest market share, while LAMEA is anticipated to experience the fastest growth. At a CAGR of% from 2023 to 2031, the market for robotic total stations in China is anticipated to grow from $ million in 2022 to reach $ million by 2031.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of Market Players Profiled

• Hexagon (Sweden)
• Topcon (Japan)
• Trimble (US)
• CST/berger (US)
• South Group (China)
• FOIF (China)
• Boif (China)
• Dad (China)
• TJOP (UK)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.