Asia Pacific Hydrographic Survey Market is expected to reach US$ 25.13 million by 2027

Services Segment is Expected to be Fastest Growing During Forecast Period for APAC Region

According to The Insight Partners market research study on “APAC Hydrographic Survey Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component and End User,” is expected to reach US$ 25.13 million by 2027 from US$ 14.97 million in 2019. The market is estimated to grow at a CAGR of 6.8 % from 2020 to 2027. The report provides trends prevailing in the APAC hydrographic survey market along with the drivers and restraints pertaining to the market growth. Rising demand for energy & power projects and advancements in hydrographic survey software and services are the major factor driving the growth of the APAC hydrographic survey market. However, insufficient awareness in underdeveloped countries hinder the growth of APAC hydrographic survey market.

In case of COVID-19, APAC is highly affected specially India. The APAC is characterized by a large number of developing countries, a positive economic outlook, high industrial presence, huge population, strong investments in industrial infrastructure, and rising disposable income. All these factors make APAC a major growth driving region for various markets, including hydrographic survey. The growing spending in marine, and oil & gas industries by the government in this region presents a huge opportunity for the growth of the global hydrographic survey market. The ongoing COVID-19 caused huge disruptions in the growth of various industries in the region. Due to lockdown, various plants and factories in China affects the global supply chains and negatively impacts sales of various products. In APAC, the governments of various countries have taken drastic measures to reduce coronavirus outbreak effects by announcing lockdowns, travel, and trade bans. The shutdown of various plants and halts in offshore projects disrupted various major projects in the region. All these measures affected the adoption and growth of hydrographic survey in 2020 and likely to affect till Mid-2021.

The APAC 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 APAC hydrographic survey market in 2019 and services segment is expected to be fastest growing during forecast period.  In terms of end user, the APAC hydrographic survey market is divided into marine and oil & gas. The oil & gas segment dominated the APAC hydrographic survey market in 2019 and is also expected to be fastest growing during forecast period.

Esri, HYPACK / Xylem Inc., IIC Technologies, OceanWise Limited, Quality Positioning Services B.V. (QPS), Teledyne Marine (Teledyne Technologies Incorporated) are among the leading companies in the APAC 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 2017, Teledyne Marine had announced a partnership between Teledyne PDS and Trimble. Trimble has chosen to use PDS as its software platform for the Trimble Marine Construction Software. 

The report segments the APAC Hydrographic Survey Market as follows: 

APAC Hydrographic Survey Market – By Component

• Software
• Services

APAC Hydrographic Survey Market – By End User

• Marine
• Oil & Gas

APAC Hydrographic Survey Market – By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC