The Global Utility Locator Market Size Is Expected to Reach $7.8 Billion by 2024, Rising at a Market Growth of 5.5% CAGR During the Forecast Period

The Global Utility Locator Market Size Is Expected to Reach $7.8 Billion by 2024, Rising at a Market Growth of 5.5% CAGR During the Forecast Period

Markets Insider

The Global Utility Locator Market size is expected to reach $7.8 billion by 2024, rising at a market growth of 5.5% CAGR during the forecast period. Concern for safety and security of underground utilities, better and advanced utility locating technologies over traditional utility locating methods, and government initiatives to implementation of utility locators are the factors that drive the growth of the utility locator market. Significant cost of ownership, high maintenance cost and lack of experts with necessary skillsets are the factors that are limiting the market growth. Nevertheless, factors such as growing demand for real-time utility locating services and aging infrastructure and growing need for the maintenance of the same would offer opportunities for the market growth…(Read the full story)

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