With the increasing requirement for application in outdoor sports, navigation, land measurements, and sightseeing, the demand for theodolite has been gaining a solid momentum in recent years. Bound with several multi-dimensional features such as movie camera, photo, geo overlay, GPS, compass, nav calculator, and rangefinder among others, the sales of theodolite is expected to go up in the near future. With such developments, the valuation of the global theodolite market is expected to reach around US$300 mn by 2022.
There are several other factors that are helping to drive the growth of the global theodolite market. Landmark triangulation, land surveying, tactical observations, and investigation of accidents are some of the key driving factors that are helping to fuel up the development of the global market in recent years. IN addition to this, theodolite is well equipped with other important features such as mapping, data sharing and logging, and import or export map markers among others. As governments across the globe are increasingly adopting the smart city projects, the adoption of theodolite equipment and devices will continue to soar up in coming years.
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Integration of High End Technologies to Boos Up Sales
Construction and survey industry has been a prominent end use industry of the global theodolite market. Regulatory authorities and government bodies across several nations are now increasingly adopting advanced and high-tech solutions that make sure the use of sustainable equitable, and smart resources. As the governments in these countries continue to develop their domestic infrastructure and smart city projects, the global theodolite market will keep on benefitting from it.
Another recent trend that has been emerging in the global theodolite market has been of increasing requirement for navigating and making precise measurements. This has prompted an increased adoption of theodolite devices in the global market. Apart from the growing number of applications for navigation and measurements, theodolites are also utilized for applications of augmented reality. This was first released in the iPhone and subsequently is now finding uses across several other similar applications. These devices help the consumers to figure out locations and directions similar to SpyGlass application. The devices are equipped with high end feature such as compass, map, GPS, and two axis inclinometer. Such features thus make these devices a highly useful for navigation with enhanced results. Moreover, with the growing need for measuring angles in the horizontal as well as vertical planes in the construction and survey industry has also helped driving the demand for the global market in recent years.
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Emergence of Orology Segment to Present Lucrative Growth Opportunities for Market
One of the key application sector of the global theodolite market is orology. The segment is expected to present considerable growth opportunities for the development of the market in the near future. As there has been an increasing demand for the re-measurement of mountain ranges in India and China, the adoption rate of the theodolite devices has grown at a rapid pace. In addition to this, the manufacturers in the global market are inclined towards integrating high-end technologies such as laser tracking and GPS to provide more accurate results. This too is expected to have an overall positive effect on the development of the global theodolite market.
Some of the key companies operating in the global theodolite market include names such as Hilti Group, Survey Instruments Services Pvt. Ltd., Suzhou FOIF Co. Ltd., South Surveying & Mapping Instrument Co. Ltd., and Hexagon AB among others.
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