Mobile Mapping Market
Mobile Mapping Market
Swift acceptance of satellite mapping technology and IoT equipment boosts the growth of the global mobile mapping market.
PORTLAND, PORTLAND, OR, UNITED STATES, February 8, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Mobile Mapping Market," The mobile mapping market was valued at $24.2 billion in 2021, and is estimated to reach $127.3 billion by 2031, growing at a CAGR of 18.2% from 2022 to 2031.
Mobile mapping involves gathering geospatial data using a mobile vehicle equipped with various technologies such as GNSS, cameras, radar, laser, LiDAR, and other remote sensing systems. Mobile mapping software integrates synchronized navigation sensors and imaging sensors mounted on the vehicle. The main outputs of these systems include GIS data, digital maps, and georeferenced images and videos. The increasing inquiries on Geo-matching, spanning from major organizations like NASA to small surveying firms globally, are driving the growth of the mobile mapping industry. According to an AMR study, the number of mobile mapping systems listed on Geo-matching has surged by an impressive 325% over the past three years.
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The practice of collecting geographical data from a vehicle is referred to as mobile mapping. Road & aerial mobile mapping, emergency response planning, and high facility management are all common applications of the mapping system. Laser, radar, LiDAR (light detection and ranging), photography, and other remote sensing devices are commonly used to collect data. Digital maps, GIS data, and geo-referenced video and image are some of the mobile mapping outputs.
Furthermore, the key factors that drive the mobile mapping market trend include infrastructural development of telecommunications networks, and increased adoption of mobile mapping devices. In addition, growing investments in smart city projects also boost the market growth. However, factor such as high initial investment is expected to hamper the mobile mapping market growth. On the contrary, emergence of automated driving technology is expected to offer remunerative opportunities for the expansion during the mobile mapping market forecast.
The market research study provides a detailed analysis of changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to enhance their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving industry.
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By offering, the solutions segment dominated growth of Mobile Mapping Market Size in 2021, and is expected to maintain its dominance in the upcoming years. The proliferation of smartphones and the use of cloud based mobile mapping solutions drive the growth of the solutions segment. However, the services segment is expected to witness highest growth rate during the forecast period. Increase has been witnessed in adoption of mobile mapping services among end users as they ensure effective functioning of Mobile Mapping Software solutions and platforms throughout the business process.
By deployment mode, the on-premise segment dominated growth of the Mobile Mapping Industry in 2021, and is expected to maintain its dominance in the upcoming years as on-premise software provides advantages such as end-to-end control of the software, and the ability to execute significant customization of software. However, the cloud segment is expected to witness highest growth rate during the forecast period as cloud handles routine work of maintaining, provisioning, and scaling the server infrastructure.
Based on the enterprise size, the large enterprises segment held the largest share in 2021, contributing to more than two-thirds of the global mobile mapping market share. Moreover, this segment is predicted to account for the highest market share by 2031. However, the SMEs segment is expected to register the highest CAGR of 19.3% during the forecast period.
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On basis of application, the topographic mapping segment held a major share of the global market in 2021, accounting for more than one-third of the global mobile mapping industry share. Moreover, this segment is predicted to contribute the highest market share by 2031. However, the asset management segment is expected to register the highest CAGR of 20.0% during the forecast period.
Based on region, North America contributed toward the highest market share in 2021, accounting for around two-fifths of the global mobile mapping market share. Moreover, the region is also set to contribute majorly toward the global market share in 2031. However, the Asia-Pacific mobile mapping market is predicted to register the highest CAGR of 20.2% during the forecast timespan. The research also analyzes regions including LAMEA and Europe.
Covid-19 Scenario:
• The Covid-19 pandemic positively impacted the growth of the global mobile mapping market, with mobile mapping software playing a key part in gaining access to travel history and sites of affected people.
• Government across the globe used mobile mapping tools for mapping demographic data and correlating it with disease spread in a specific area. This boosted the growth of the global market during the COVID-19 pandemic.
The key players that operate in the mobile mapping market analysis are Microsoft Corporation, Qualcomm Inc., Trimble Inc., Mitsubishi Electric Corporation, Google LLC, Black & Veatch, Apple Inc., Pasco Corporation, GeoSLAM, Leica Geosystems, Hexagon AB, Foursquare Labs, Novatel Inc, Javad GNSS Inc., Teledyne Optech LLC, EveryScape Inc., and MapJack. These players have adopted various strategies to increase their market penetration and strengthen their position in the mobile mapping industry.
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The report evaluates these major players in the global mobile mapping industry. These players have executed a gamut of major business strategies such as the expansion of regional and customer base, new product launches, strategic alliances, and joint ventures for expanding product lines across the global markets. The market research report supports the performance monitoring of each segment, positioning of each product in respective segments, and the impact of new technology and product innovations on the overall market size.
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