Surveying and Mapping Services in Canada Industry Market Research Report from IBISWorld Has Been Updated
New York, NY (PRWEB) June 10, 2014 -- Operators in the Surveying and Mapping Services industry perform services that include the creation of segregating rights in parcels of land, which give certain rights to real property without designating possession. Industry services are used by a range of industries, including residential, commercial and industrial construction, as well as by government authorities for infrastructure and environmental purposes. As a result, the industry's performance is largely tied to developments in construction markets, which fuel both private and public sector spending. According to IBISWorld Industry Analyst Dmitry Diment, “Over the five years to 2014, the industry is expected to grow at an annualized rate of 1.6%, commensurate with improving construction activity.” This includes forecast growth of 2.3% in 2014, bringing total revenue to $1.6 billion.
Since the industry's performance is closely tied to the performance of downstream construction activities, their across the board decline in 2009 depressed demand for surveying and mapping services. However, because the housing-fuelled recession was less acute in Canada than in the United States, the overall uptick in construction beginning in 2010 has spurred the industry's recovery. Industry-wide profit margins are expected to reach prerecessionary levels. Likewise, the limited severity of the housing market contraction endowed a more stable industry landscape. While the number of operators declined in 2009 and employment contracted significantly in 2011, on account of the industry's slow recovery, IBISWorld expects both the number of industry operators and employees to rise over the five years to 2014.
The continued growth of downstream construction markets promises to create demand for the Surveying and Mapping Services industry over the next five years. In addition to solid demand from commercial and industrial building construction, the accelerated growth of the housing market is expected to stimulate demand for industry services, particularly cadastral, property line and construction surveying. “Meanwhile, the continued adoption of new technology will allow industry operators to realize new efficiencies and expand profit margins,” says Diment. Consequently, IBISWorld forecasts that industry revenue will rise over the five years to 2019.
The Surveying and Mapping Services industry has a very low level of market share concentration. The four largest players in the industry generate less than 10.0% of industry revenue. The industry is largely characterized by small companies that service geographically dispersed markets. Among the industry's employing operators, no individual company employs more than 500 workers relevant to the industry. In addition to the large number of small operators, the industry has a significant amount of non-employers. These sole proprietorships are concentrated in the industry's most populous provinces and generate a small fraction of overall industry revenue.
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IBISWorld industry Report Key Topics
The Surveying and Mapping Services industry performs surveying and mapping services of the surface of the earth, including the sea floor. These services may include surveying and mapping areas above or below the surface of the earth, such as the creation of view easements or segregating rights in parcels of land by creating underground utility easements, which give certain rights to real property without possessing it.
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Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
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Globalization & Trade
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Market Share Concentration
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Cost Structure Benchmarks
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Major Companies
Operating Conditions
Capital Intensity
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About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld, +1 (310) 866-5042, [email protected]
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