Surveying & Mapping Services in Australia -Market Size, Industry Analysis, Trends & Forecasts (2024-2029)

About the Industry

Surveying and Mapping Services industry operators provide professional surveying services across various markets and disciplines, including cadastral surveying, construction surveying, mapping services, and integrated surveying services. The industry includes services such as aerial surveying, engineering surveying, land surveying, map preparation, and seismic surveying, among others. Major companies in the industry include Fugro Holdings (Australia), Veris, AAM, Jacobs, and Nearmap.

Performance

The industry has experienced mixed performance due to divergent trends in demand from the mining and construction sectors. Demand from the mining sector has partially offset a fall in demand from construction, helping some segments of the industry. A tight labour market has led to increased wage costs, forcing firms to raise wages to attract and keep high quality staff. 

External Environment

High interest rates are expected to negatively affect the industry, particularly through a downturn in residential construction in 2023-24. Demand from exploration has weakened slightly, while the mining sector has provided exceptional industry-wide performance.

Industry Structure

The land surveying industry has low concentration, low barriers to entry, and moderate regulatory controls. It is considered a mature industry with moderate revenue volatility and high competition. Innovation is high, and surveying firms need to stay up to date with emerging technologies to remain competitive.

Profit Margin

The profit margin CAGR (Compound Annual Growth Rate) for the surveying and mapping services industry from 2019-24 is minus 1.1 percentage points. This means that the profit margin is expected to decrease by an average of 1.1 percentage points annually during this period.

Employment

 The employment potential in the surveying and mapping services industry is affected by several factors including industry growth, technological advancements, market demand, labour market conditions, and qualifications. While the industry has experienced fluctuations in employment growth over the years, it keeps a significant company workforce and requires a diverse range of professionals. Growth prospects are linked to government investment, construction activities, and the mining sector. However, employment growth is expected to be moderate and can be influenced by economic conditions, technological advancements, and industry-specific developments.

Outlook

 The industry is projected to experience a gradual recovery as interest rates ease and material
costs come down, leading to a rebound in construction. Weaker government investment in large-scale infrastructure projects may dampen downstream demand. New technology presents both opportunities and threats, with potential efficiency gains but also the risk of clients bypassing third party specialists.

IBIS World specialises in industry research, covering thousands of industries in Australia and globally. Its comprehensive data provides quick, actionable insights for businesses of all kinds. Using economic, demographic, and market data, IBISWorld's in-house analysts offer analytical and forward-looking insights into industries like land surveying.

More Information

www.ibisworld.com/au/industry/
surveying-mapping-services/