Surveying and Mapping Services
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 7,000 surveying and mapping service providers collect data to determine property boundaries and create maps of the Earth’s surface, including the sea floor. The processes of surveying and mapping involve measurement, documentation, and representation of the Earth’s features. Surveying is used for land planning and development, construction, infrastructure planning, real estate transactions, environmental management, navigation, and geographical analysis. Determining the boundaries, elevation, and topography of an area is critical in construction work.
Dependence on Construction and Real Estate Industries and Economic Conditions
Demand for surveying and mapping services is driven primarily by the construction and real estate industries, which are cyclical and affected by changes in economic conditions.
Drones and UAVs
The use of aerial drones and uncrewed or unmanned aerial vehicles (UAV) is growing as surveyors look for ways to cut costs and operate more efficiently.
Industry size & Structure
Industry Forecast
Surveying and Mapping Services Industry Growth
Recent Developments
Jul 18, 2024 - Smaller Single-Family Lot Sizes
- A trend in smaller lot sizes for single-family detached homes has accelerated in recent years, according to the latest Survey of Construction by the US Census Bureau. Even as more families decamped to suburban areas seeking more space during the pandemic, lot sizes have continued to shrink. In 2023, lot sizes of less than 0.16 acres (less than 7,000 square feet) accounted for 40% of new single-family home sales compared to 30% in 2011. The share of lots under 0.16 acres has risen two percentage points since the pandemic began. Shrinking lot sizes suggest that firms that build homes speculatively have reduced lot and home sizes to cope with lot shortages and to offer more affordable homes as housing costs have risen.
- Investments in data centers are expected to remain strong, but construction firms serving the industry still face lingering headwinds, according to a recent report by CBRE. While data center pre-leasing rates in most regions exceed 80% - suggesting demand is in step with increasing supply – construction contractors are seeing challenges in power distribution access and supply chain constraints for key components, including transformers and circuit breakers. Industry observers suggest contractors can better manage supply chain issues and project delays by exploring supply chain alternatives and collaborating more closely with suppliers and other project stakeholders.
- The Associated Builders and Contractors (ABC) Construction Backlog Indicator rose 0.1 months to 8.4 months in June compared to May. Backlogs were down 0.5 months compared to June 2023’s 8.9 months. The heavy industrial segment drove June’s construction backlog growth, which rose to 9.6 months in June compared to May’s 8.8 months. The infrastructure backlog rose by 0.2 months, and the commercial and institutional backlog was flat. The ABC’s Construction Confidence Index for sales fell to 59.4 in June from 59.9 in May. A Confidence Index sales reading of 50 or more indicates most contractors are optimistic about sales. ABC Chief Economist Anirban Basu said, “Backlog continues to hold up remarkably well despite high interest rates, inflation and emerging weakness in the broader economy."
- Home builder confidence in the single-family market dropped in July to the lowest level since December 2023 amid high mortgage rates and elevated builder financing costs, according to the National Association of Home Builders (NAHB). Home builder sentiment, as measured by the NAHB/Wells Fargo Housing Market Index (HMI), fell one point to 42 in July 2024. Any HMI reading over 50 indicates that more builders see conditions as good than poor. The HMI survey also showed that 31% of builders have reduced home prices to lure potential buyers off the sidelines, although the average price reduction of 6% remained unchanged for the thirteenth consecutive month.
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