Electronic Marker Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Electronic Marker: Introduction
An Electronic Marker makes it convenient to permanently label, classify and locate the underground service properties in a unique way. Without the requirement of batteries needed to power up, Electronic Markers ensure the proper installation of utilities buried in the ground such as telephone cables or manholes, gas pipes, water pipes or valves, contact points or other essential buried resources remain traceable for decades.
Electronic Markers enables the job of identifying underground facilities accurately. Unlike surface markers such as poles, flags or paint, road resurfacing, overgrown vegetation or vandalism does not affect Electronic Markers and cannot be washed away by rain. Electronic Markers enable precise location of critical underground infrastructure such as service switches, conduit stubs, splices, fiber optic systems, and pipe and cable routes, even in the worst of traffic. Such factors are anticipated to driver the Electronic Marker market during the forecast period.
Electronic Marker: Market Dynamics
The continuous demand for power in the industrial vertical plays a crucial role in the adoption of Electronic Markers. A key factor driving the market growth is that Electronic Markers help save time and money for telecommunications companies by enabling utility field crews to easily identify the location of all forms of buried facilities including buried splices, fiber-optic, service drops and manholes. Throughout building, deployment and maintenance, Electronic Markers effectively eliminate the time consuming hunt for missing installations and buried facilities by field teams, which in turn saves maintenance time and avoids the costs of incomplete excavations.
One of the primary challenges encountered by the Electronic Marker market is the high initial cost of the device which basically depends on the power level, scale, and applications in which they are used. Many buried Electronic Markers can be disturbed or poorly mounted by backfill soil, so that they do not remain correctly placed. This might also hinder the Electronics Marker market growth over the forecast period.
An opportunistic factor in the market is integration of GPS devices with the Electronic Markers. This in turn could upload specific asset details to GIS mapping systems like GPS co-ordinates, providing a detailed map of underground facilities. There could be major direct and indirect costs of unintended damage to underground infrastructure such as fiber-optic cables or plastic pipes. The presence of Electronic Markers reduce the likelihood that buried infrastructure that might experience unintended damage during excavation. Electronic Markers could process even in the presence of metal conduits or pipes, metallic conductors, barriers, AC power lines and other utility Electronic Markers.
A recent ongoing trend in the Electronic Marker market is that during construction or repairs, the Electronic Marker is buried over the primary facilities. The locator sends a signal to the buried Electronic Marker, which in turn, returns the signal to the locator indicating the exact location. The lightweight locator provides visual reading as well as audible sound.
COVID-19 Impact Assessment on the Electronic Marker Market
In light of the recent coronavirus pandemic, prominent impact on the Electronic Marker market is anticipated to grow in surveillance activities whereas due to slowdown in construction the growth will be impaired during this global crisis. Based on early indicators from the first quarter, a significant slowdown in spending is expected during the first half of 2020 as the crisis reverberates through all sectors of the economy. The outlook for the second half of the year, and beyond, remains uncertain as the scope of the virus and its impact on production, supply chains, and demand will determine when the recovery phase begins and how quickly it progresses.
Electronic Marker: Market Segmentation
Based on Product type, the Electronic Market can be segmented into:
Based on Range, the Electronic Market can be segmented into:
Based on Application, the Electronic Market can be segmented into:
Based on End Use Industry, the Electronic Market can be segmented into:
Electronic Marker: Regional Outlook
North America is anticipated to hold a significant share in the global Electronic Marker market on account of the rapid development in the power industry of countries like the U.S. and Canada. Asia Pacific is expected to hold a lion’s share of the Electronic Marker market as a result of the growing R&D in proteomics and genomics study. It is expected that the growing demand from developing economics like China and India along with the implementation of upcoming projects would drive the market growth. Due to increased industrialization in countries such as Brazil and Mexico, the Latin America Electronic Marker market is projected to expand at a healthy rate over the forecast period. In addition, increasing demand for variable frequency drive across major end-use industries including iron and steel, chemical, oil and gas, and automotive is also expected to drive the Electronic Marker market
Electronic Marker: Market Participants
Some of the key market participants in the global Electronic Marker market are:
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