LONDON--(BUSINESS WIRE)--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 ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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