Global Rockfall Radar Market Expected to Grow Substantially Owing to Increasing Incidences of Rockfall in Mines and on Highways [250-Pages] | Interpreted by Research Dive

The global rockfall radar market is expected to grow primarily due to the rising cases of rockfall in mines and highways. Cloud sub-segment is expected to flourish immensely. The market in the Europe region is predicted to grow with a high CAGR by 2031

NEW YORK, March 10, 2023 /PRNewswire/ -- Global Rockfall Radar Market Forecast Analysis:

As per the report published by Research Dive, the global rockfall radar market is expected to register a revenue of $285.6 million by 2031 with at a CAGR of 8.5% during the forecast period 2022-2031.

Segments of the Rockfall Radar Market

The report has divided the rockfall radar market into the following segments:

Application: highways, railways, mines, and others

Offering: cloud and on-premises

Region: North America, Europe, Asia-Pacific, and LAMEA

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Dynamics of the Global Rockfall Radar Market

Increasing number of cases of rockfall in mines and on highways is expected to become the primary growth driver of the rockfall radar market in the forecast period. Additionally, growing use of rockfall radars on railway lines and in tunnels to predict landslides, rockfall, and debris flow events is anticipated to propel the market forward. However, according to market analysts, high cost of investment might become a restraint in the growth of the market.

Rising need for risk analysis to evaluate the effects of expected rockfall disasters is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, extensive use of rockfall radars while constructing tunnels and railway lines is expected to push the rockfall radar market forward in the coming period.

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COVID-19 Impact on the Global Rockfall Radar Market

The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The rockfall radar market, too, was negatively impacted due to the pandemic. The lockdowns and travel restrictions put in place by various governments across the world led to a virtual stoppage of all construction related activities and mining operations. This reduced the demand for rockfall radars which brought down the growth rate of the market during the pandemic period.

Key Players of the Global Rockfall Radar Market

The major players of the market include

• Hexagon AB
• Canary Systems
• SkyGeo
• GroundProbe
• TERRASIGNA
• Geomotion Australia
• TRE ALTAMIRA
• Geobrugg AG

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in June 2021, GroundProbe, a leading geohazards monitoring and measuring company, announced the launch of RGR-Velox, a doppler radar and alarming system for tailing landslides, dam breaches, avalanches, etc. This product launch will help to expand Groundprobe's portfolio and increase its market share in the coming period.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

More about Rockfall Radar Market:

• Important Pointers on Early Detection and Warning Mechanism of Rockfall Radars
• Global Rockfall Radar Market to Experience Massive Growth by 2031 with the Growing Demand for Rockfall Radars in Open-Pit Mines

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