DUBLIN--(BUSINESS WIRE)--The "Utility Locator Market by Technique, Offering, Target, Vertical, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The utility locator market is expected to reach USD 7.50 billion by 2023 from USD 5.62 billion in 2018, at a CAGR of 5.94% between 2018 and 2023.
This growth can be attributed to the concern for safety and protection of underground utilities, benefits of advanced utility locating technologies over traditional utility locating methods, and government initiatives toward the implementation of utility locators. However, high ownership and maintenance costs restrict the growth of the utility locator market.
The electromagnetic field technique accounted for the largest share of the utility locator market in 2017. The applicability of this technique to locate metallic utilities, such as electric wires, telephone lines, and cables, and the lower cost of the electromagnetic field technique compared to the other techniques can be attributed to the largest share of this segment.
The utility locating services market is expected to grow at a higher CAGR during the forecast period. The high cost of ownership and maintenance of equipment, constant innovation pertaining to utility locating devices, and stringent government policies to locate underground utilities before digging and construction activities contribute to the higher growth of this market.
The telecommunications vertical accounted for the largest share of the utility locator market in 2017. This can be attributed to the high repair cost of telephone lines, adoption of utility locators to avoid disturbances in the communication system, and establishment of 5G technology infrastructure.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Utility Locator Market, By Technique
7 Utility Locator Market, By Offering
8 Utility Locator Market, By Target
9 Utility Locator Market, By Vertical
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
- Detection Services
- Geophysical Survey Systems
- Ground Penetrating Radar Systems
- Guideline Geo
- Leica Geosystems
- Maverick Inspection
- On Target Utility Services
- One Vision Utility Services
- Rhd Services
- Ridge Tool Company
- Sensors & Software
- The Charles Machine Works
- Utilities Plus
- Utility Tool Company
For more information about this report visit https://www.researchandmarkets.com/research/ng7x6n/utility_locator?w=4