Global Utility Locator Market 2019-2023 | 6% CAGR Projection Over the Next Five Years | Technavio

Technavio has announced its latest market research report titled global utility locator market 2019-2023 (Graphic: Business Wire)

LONDON--()--The utility locator market size is expected to grow by USD 1.79 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

The increased demand for modern advanced utility locators over conventional tools will be one of the major factors behind the utility locator market growth. Vendors operating in the market are offering a wide range of advanced tools and devices for operations such as inspection and surveys, detection of leakage, and monitoring of underground utilities. The advanced utility locators are equipped with multiple underground locating technologies such as GPR and electromagnetic profiling locators. For instance, 3M has developed a utility locator called 3M Electronic Marker System (EMS), which allows the programming of identified features into intelligent markers using RFID technology that interfaces with geographic GIS. In addition, the cost advantage of using advanced utility locators is contributing to the shift from conventional utility locators to technologically-advanced utility locators.

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As per Technavio, the evolution in technology for enhancing underground utility locators will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Utility Locator Market: Advances in Technology for Enhancing Underground Utility Locators

The consistent advances in technology have led several end-user industries to adopt advanced utility locator solutions for the speedy resolution of errors in the event of faults in underground cables. The advent of digital technologies such as RFID and GPS in utility locators is enabling convenient communication and coordination between different operational points during the surveying and mapping process. These technologies will increase the accuracy and precision of the survey and mapping process. Thus, the evolution in technology for enhancing underground utility locators will drive the growth of the market.

“Other factors such as the increase in gas pipeline laying projects, and emergence of contract or private locating companies and referral services will have a significant impact on the growth of the utility locator market value during the forecast period,” says a senior analyst at Technavio.

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Utility Locator Market: Segmentation Analysis

This market research report segments the utility locator market by technology (electromagnetic field utility locator and GPR) and by region (Americas, APAC, and EMEA).

The Americas held the largest share of the market in 2018, followed by EMEA and APAC respectively. The Americas is expected to dominate the market and register the highest incremental growth due to the growing adoption of utility locators in the advanced economies including the US and Canada.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The utility locator market size is expected to grow by USD 1.79 billion during the period 2019-2023, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com