DUBLIN--(BUSINESS WIRE)--The "Underground Utility Mapping Market by Component (Technological Solutions (EMI & GPR), and Services (Professional Services, & Managed Services)), Vertical (Telecommunication, Oil & Gas, Government & Public Safety), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Global Underground Utility Mapping Market Size is Expected to Grow from USD 842 Million in 2019 to USD 1.4 Billion By 2024, at a CAGR of 11.0%
Rise in concerns over the safety of underground utilities and government initiatives for the implementation of utility mapping tools are the major factors driving the growth of the underground utility mapping market.
The technological solutions segment holds a significant market share.
Over the past few years, the underground utility mapping technology has been growing and being incorporated into various verticals. Various utilities, such as electric wires, oil & gas pipelines, and water & sewage lines, can be detected, identified, and mapped using a variety of techniques to reduce the risk of potential damage to underground utilities during digging or excavation. The underground utility mapping market, based on technological solutions, has been segmented into electromagnetic induction, GPR, and others. Other technological solutions include magnetic locators, acoustic pipe locator, and vacuum excavator.
Surveying & mapping segment is expected to have significant growth in the underground utility mapping market during the forecast period.
In surveying & mapping, technicians use the latest technology with expert methods to explore detectable features underground. A suite of technology, including GPR and Electro-Magnetic Locators (EML), analyses reflected signals from structures, services, buried objects, and layers beneath the ground. With statutory record plans, visual inspections of all lifted services covered on site, technicians create an accurate plan of the subsurface environment in multiple formats, including 3D. Surveying & mapping reduce project planning time, minimize risk, and comply with health & safety regulations.
North America is expected to have the largest market size, and Rest of the World (RoW) is projected to grow at a significantly high rate during the forecast period.
North America leads the adoption of underground utility mapping applications due to the increasing demand for enhanced surveillance and construction activities that utilize projection mapping to build advanced maps and models. The region has a highly stable economy, which gives it an upper hand over other regions in terms of the vast utilization of underground utility mapping applications in various fields.
Utility mapping solutions help identify the precise location of an underground utility, thereby enhancing public safety, increasing the integrity of underground utility, and avoiding accidents & mishaps during the repair, maintenance, and new construction activities. All these factors propel the growth of the market in North America. The American Public Works Association has developed color coding systems that help to identify existing underground utilities such as electrical, gas, water, and communication lines. The US is one of those countries in which these systems are deployed.
Major countries contributing to the underground utility mapping market in RoW are Brazil, South Africa, and some countries in the Middle East. Brazil is a key contributor to underground utility mapping solutions and services in this region. Factors driving the underground utility mapping market in RoW are market-friendly policies such as equal access to regional markets for non-resident investors and the government's Growth Acceleration Program (PAC) that promotes investment in infrastructure.
In South Africa, underground utility mapping is used for electricity and infrastructure verticals and is expected to grow at a significant rate during the forecast period. This growth can be attributed to the growing use of underground utility mapping applications for checking underground utilities during construction activities.
The underground utility mapping market includes various major vendors such as Hexagon Geosystems, GSSI, US Radar, Plowman Craven, Cardno, Sensors & Software, Vivax-Metrotech, and multiVIEW Locates.
- Rise in Concerns Over the Safety of Underground Utilities
- Government Initiatives for Implementation of Utility Mapping Tools
- High Ownership and Maintenance Costs of Utility Mapping Tools
- High Demand for Real-Time Utility Mapping Applications
- Aging Infrastructure Creating the Need for Maintenance
- Concentrated Demand May Affect Market Growth
- Lack of Expertise and Skills
- Sensors & Software
- Geophysical Survey Systems, Inc
- Global Detection Solution
- Guideline Geo
- Hexagon Geosystems
- Maverick Inspection
- multiVIEW Locates
- Plowman Craven
- Prostar Geocorp
- Sensors & Software
- Underground Services (Softdig)
- US Radar
- Utility Mapping
For more information about this report visit https://www.researchandmarkets.com/r/jx83zr