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 Inc. Revenue (TTM)
Trimble Inc. revenue-ttm | Trimble Inc. Quote
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. 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.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Cadence Design Systems, Inc. (CDNS) : Free Stock Analysis Report
Trimble Inc. (TRMB) : Free Stock Analysis Report
Anixter International Inc. (AXE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research