Middle East & Africa Hydrographic Survey Market is expected to reach US$ 17.23 million by 2027

Software Segment to Dominate MEA Hydrographic Survey Market during 2019–2027.

According to The Insight Partners market research study on “MEA Hydrographic Survey Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component and End User,” is expected to reach US$ 17.23 million by 2027 from US$ 11.10 million in 2019. The market is estimated to grow at a CAGR of 5.8 % from 2020 to 2027. The report provides trends prevailing in the MEA hydrographic survey market along with the drivers and restraints pertaining to the market growth. Integration with advanced technologies and surging demand for energy & power projects are the major factor driving the growth of the MEA hydrographic survey market. However, dearth of awareness in underdeveloped countries hinder the growth of MEA hydrographic survey market.

In case of COVID-19, among the MEA countries, Turkey has faced the highest number of confirmed cases (2,531,456) and deaths (26,797). Other major countries facing the economic impact of COVID-19 include South Africa, Iran, Israel, Iraq, Morocco, Saudi Arabia, UAE, and Qatar. The region comprises many growing economies such as UAE and Saudi Arabia, among others, which are prospective markets for hydrographic survey providers due to the several ongoing marine and oil & gas projects. The global COVID-19 pandemic would have significant effects on global economies, but the region is anticipated to be impacted as there is already pressure on the economy of various oil-based countries due to falling oil prices. In addition to this, the factory lockdowns, business, and various major plant shutdowns, and travel bans are further aggravating the economic problems of the countries in the MEA. Hence, the estimated decline in the region’s economic condition and the impact of COVID-19 on the growth of various industries in the region is expected to negatively impact the growth of the hydrographic survey market till Mid- 2021.

The MEA 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 MEA hydrographic survey market in 2019 and services segment is expected to be fastest growing during forecast period.  In terms of end user, the MEA hydrographic survey market is divided into marine and oil & gas. The oil & gas segment dominated the MEA 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 MEA 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 2021, HYPACK (a Xylem brand) had conducted HYPACK 2021 hydrographic training event held from January 5th-8th, 2021, at the Hyatt Regency in Long Beach, California. HYPACK hosted a virtual training session due to COVID-19. The annual hydrographic training event was filled with the newest features in the HYPACK software and training for novice and experienced users. 

The report segments the MEA Hydrographic Survey Market as follows: 

MEA Hydrographic Survey Market – By Component

• Software
• Services

MEA Hydrographic Survey Market – By End User

• Marine
• Oil & Gas

MEA Hydrographic Survey Market – By Country

• Saudi Arabia
• UAE
• South Africa
• Rest of MEA