Trimble Inc. TRMB recently rolled out 3D laser scanning system, which features specialized field software, in an effort to expand its 3D Scanning portfolio. Notably, the latest system, Trimble X7, is an integrated solution that provides intuitive workflows and high-speed 3D laser scanning. Further, it automates critical steps to improve efficiency and productivity. Further, this 3D laser scanning system is fully integrated and supported by Trimble Perspective software, Trimble Field Link software and Trimble Forensics Capture software. We believe Trimble’s latest move is likely to attract customers, which in turn will strengthen its market position. 3D Scanning Space Holds Promise The latest move positions the company well to reap benefits from the booming global 3D Scanning market, which as per a report from Allied Market Research, is expected to witness a CAGR of 25.7% over a period of 2018-2025 and to hit $53.3 billion by 2025. Further, a Mordor Intelligence report shows that this particular market is likely to see a CAGR of 22.21% between 2019 and 2024. According to MarketsandMarkets report, the 3D scanner market is anticipated to improve at a CAGR of 6.6% between 2019 and 2025. We believe Trimble is likely to rapidly penetrate into this market on the back of its expanding 3D scanning portfolio. Trimble to Gain Customer Momentum
The new 3D laser scanning system is aimed at boosting field productivity across architecture, engineering and construction (AEC) industry projects and general contracting, which in turn will aid the company gain traction among the building design and construction application users.
Moreover, Trimble X7 can be utilized for road intersection surveys, civil infrastructure, general surveys, industrial survey and tank calibration, utilities and mining, to name a few. This is expected to aid the adoption rate of the solution among surveyors and geospatial professionals. Additionally, the solution remains ideal for forensic applications as it is operational in cold, rain, day and night. We believe all the abovementioned factors are expected to strengthen Trimble’s customer base, which in turn will aid the top line. Moreover, Trimble X7 remains a major positive for the company’s Building and Geospatial segments. However, trade tensions between the United States and China remain concerns. Further, macro-economic headwinds in China are causing slowdown in OEM demand, which in turn is hurting the Geospatial segment. Zacks Rank & Stocks to Consider
Trimble carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader technology sector are Anixter International Inc.
AXE, Alphabet Inc. GOOGL and Cadence Design Systems, Inc. ( CDNS Quick Quote CDNS - Free Report) . While Anixter sports a Zacks Rank #1 (Strong Buy), Alphabet and Cadence carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Anixter, Alphabet and Cadence is pegged at 8%, 17.5% and 10%, respectively.
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