According to the latest research study published by Intent Market Research surveying and mapping market is projected to reach USD 48.1 billion by 2030, at a CAGR of 5.6% during the forecast period of 2024 to 2030.

Surveying and mapping is a critical process involved in architecture, engineering, and construction (AEC) through which geospatial measurements are studied to obtain crucial information. Surveying and mapping equipment and services are used in several industries including oil and gas, telecommunications, transportation, mining, construction & infrastructure, and disaster management, among others.  

It is utilized in planning and executing projects with a high degree of accuracy, reducing the risk of costly errors, safety hazards, and project delays. Surveying and mapping also help to improve the overall efficiency of company operations. The key companies in surveying and mapping are continuously striving to strengthen their portfolio to meet the growing demand. The key companies in the market are AECOM, Bosch, Fugro, Hexagon AB, Hi-Target, NV5 Global, Stantec, Stonex, Topcon, and Trimble.

High Global Spending on Port Infrastructure is Driving Hydrographic Surveying Segment

Hydrographic surveying is one of the critical civil engineering services that is used to analyze the physical features of an underwater area. The hydrographic survey and mapping equipment are used to measure water bodies to support marine construction. There has been a substantial growth in infrastructure investments in offshore wind infrastructure in recent years. As reported by the Global Wind Energy Council, the global offshore wind capacity has reached 64.3 GW.

A concurrent increase in global spending on port infrastructure is driving the demand for hydrographic surveys. For instance, in October 2022, the US government announced more than USD 703 million to improve port infrastructure. This is anticipated to fund 41 projects in 22 states and one territory that will improve port facilities through the Maritime Administration’s Port Infrastructure Development Programs. Thus, the hydrographic surveying segment is anticipated to grow at a significant pace in the surveying and mapping market.

Technological Advances in Computing Power is Augmenting the Volumetric Calculations Segment

Volumetric calculations serve various purposes, including determining earthwork volumes, measuring stockpiles, managing landfills, and assessing water storage capacity. Industries such as construction, mining, agriculture, environmental management, and waste disposal frequently employ volumetric surveys for these tasks. The task of interpreting survey data requires a broad range of skills and knowledge.

Technological advances in computing power in recent years have further made it possible to interpret large sets of survey data volumes quickly. The increased integration of AI and Machine Learning into volumetric calculations has significantly enhanced efficiency. This, coupled with advancements in computing power, is expected to be a driving force behind market growth.

Growing Demand for Critical Minerals is Driving the Mining Segment

There has been a strong focus on mineral exploration in the last few years owing to the rise in demand for critical metals. This can be attributed to the increasing adoption of clean energy technologies. The growing EV market and increasing reliance on wind and solar energy are driving the demand for critical minerals such as lithium, nickel, cobalt, and manganese, among others. According to the International Energy Agency (IEA), investments in critical mineral development rose by 30% in 2022, following a 20% increase in 2021. Thus, the mining and construction segment is anticipated to grow at a significant pace in the surveying and mapping market.