South America Hydrographic Survey Market is expected to reach US$ 14.97 million by 2027

Oil & Gas Segment to Dominate SAM Hydrographic Survey Market during 2019–2027.

According to The Insight Partners market research study on “SAM Hydrographic Survey Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component and End User,” is expected to reach US$ 14.97 million by 2027 from US$ 9.21 million in 2019. The market is estimated to grow at a CAGR of 6.4 % from 2020 to 2027. The report provides trends prevailing in the SAM hydrographic survey market along with the drivers and restraints pertaining to the market growth. Rise in maritime commerce and transport and increasing demand for energy & power projects are the major factor driving the growth of the SAM hydrographic survey market. However, deficiency of awareness in underdeveloped countries hinder the growth of SAM hydrographic survey market.

In case of COVID-19, Brazil has the highest number of confirmed cases, followed by other countries such as Colombia, Argentina, Peru, and Chile. The governments of various countries in SAM are taking several initiatives to protect people and to contain COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to directly impact the region’s economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America. The total number of cases in Brazil accounted for 9,497,795, out of which 231,012 total deaths are recorded. The shutdown of businesses and halt in ongoing offshore projects due to lockdown measures has directly affected the growth of the hydrographic survey market in this region. The sharp decline in business activities and product sales are also affected the growth rate of the hydrographic survey in this region in 2020 and most likely to affect till Mid-2021.

The SAM hydrographic survey market is segmented on the basis of component, end user, and country. Based on component, the market is segmented into software and services. The software segment dominated the SAM hydrographic survey market in 2019 and services segment is expected to be fastest growing during forecast period.  In terms of end user, the SAM hydrographic survey market is divided into marine and oil & gas. The oil & gas segment dominated the SAM hydrographic survey market in 2019 and is also expected to be fastest growing during forecast period.

Esri, HYPACK / Xylem Inc., OceanWise Limited, Quality Positioning Services B.V. (QPS), Teledyne Marine (Teledyne Technologies Incorporated) are among the leading companies in the SAM hydrographic survey market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Quality Positioning Services B.V. (QPS) had launched a new Qinsy version 9 with a focus on cross-product features between Qinsy and Qimera. This release incorporates a new geodetic user interface, a project dialog, SVP folder monitoring, and an online line log. Additionally, Qinsy version 9 has refreshed icons, and the overall menu layout is improved. 

The report segments the SAM Hydrographic Survey Market as follows: 

SAM Hydrographic Survey Market – By Component

• Software
• Services

SAM Hydrographic Survey Market – By End User

• Marine
• Oil & Gas

SAM Hydrographic Survey Market – By Country

• Brazil
• Argentina
• Rest of SAM