According to the recent study the utility marker market is projected to reach an estimated $485.3 million by 2028 from $345.6 million in 2023, at a CAGR of 7% from 2023 to 2028. Growth in this market is primarily driven by supporting government regulations for previous utility location and mapping to prevent damage to the utility lines or any dangerous situations in case of pipeline leakage and growing requirement for connectivity and ongoing developments, such as IoT, cloud services, 5G networks, and edge computing, across the globe.
A more than 150–page report
is developed to understand trends, opportunities and forecast in utility marker
market by product type (ball markers, disk markers, tape markers, and others),
configuration (passive and programmable), utility type (gas, power,
telecommunications, and water & wastewater), and region (North America,
Europe, Asia Pacific, and the Rest of the World).
“Ball marker market is expected to remain the largest segment
during the forecast period.”
Based on product type,
the utility marker market is segmented into all markers, disk markers, tape
markers, and others. Lucintel forecasts that the ball marker market is expected
to remain the largest segment because these markers possess self-levelling
capabilities, which remains horizontal no matter where they are placed in the
ground.
“Within the utility marker market, the telecommunication segment
is expected to remain the largest utility type.”
Based on utility type
the telecommunication segment is expected to witness the highest growth over
the forecast period due to the significant utilization of these markers in
telecom services to offer undisturbed 5G networks and high-speed internet.
“Asia pacific will dominate the utility marker market in near
future.”
APAC is expected to
witness the highest growth over the forecast period due to favorable financial
support for telecom and power grid projects, increasing use of these markers in
the construction of new infrastructure and upgradation of old infrastructure,
and presence of high-quality urban infrastructure in Japan.
Major players of utility
marker market are adopting various growth strategies like new product launches,
expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. 3M, Tempo
Communications, Komplex, Hexatronic, and Radiodetection are among the major
utility providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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