Mobile Mapping Market worth over $65 billion by 2026
Published Date: July 17, 2020 Authors: Preeti Wadhwani, Smriti Loomba
Mobile Mapping Market size is set to surpass USD 65 billion by 2026, according to a new research report by Global Market Insights, Inc.
The mobile mapping industry is expected to grow exponentially during the forecast period due to the rapid penetration of mobile devices, such as smartphones and tablets worldwide. For instance, according to GSMA, in 2019, unique mobile subscribers crossed a 5.2 billion mark and are expected to increase to 5.8 billion by 2025. A growing number of smartphone users are using mapping applications on their devices for navigation purposes. An overwhelming number of smartphone users use navigation apps to obtain instant access to driving directions.
In addition, due to the COVID-19 outbreak, the technology is enabling government authorities to map the environment of various localities to understand patients patterns. Mobile mapping also helps government authorities to map the travel history of COVID-19 patients and trace their contacts, preventing the rapid spread of the epidemic. The growing adoption of mobile mapping solutions to track the activities of quarantined patients will support market growth.
Get more details on this report - Request Free Sample PDF
Browse key industry insights spread across 325 pages with 382 market data tables and 38 figures & charts from the report, “Mobile Mapping Market Size By Component (Hardware [Imaging Device, Laser Ranging & Scanning Device, Positioning Device], Software [Mapping Data Extraction, Data Processing], Service [Consulting, Integration & Maintenance, Managed]), By Application (Road & Railway Survey, GIS Data Collection, Vehicle Control & Guidance, Asset Management), By End-Use (Agriculture, BFSI, Government & Public Sector, Real Estate & Infrastructure, Retail, Telecommunication, Mining, Transportation & Logistics), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Growing demand for outsourcing mobile mapping services to support the adoption of managed services
The mobile mapping market revenue from managed service segment is expected to grow at 20% CAGR during 2020 to 2026 owing to the rising demand to raise awareness on the benefits of mobile mapping technology in sectors such as retail and BFSI. Managed service providers play an integral role in ensuring the smooth functioning of mobile mapping systems through customized service plans for customers, depending on the extent of mapping requirements. To meet the mapping needs of the customers, companies are delivering managed services that enable customers to gain insights from the real-time data.
To improve transportation infrastructure will support the market growth
The road & railway surveys segment held a market share of over 15% in 2019 due to the growing demand to analyze rail & road infrastructures and plan engineering works. Surveying companies and authorities around the globe are deploying mapping systems to create maps that can be used by transportation departments for road assessment management and transportation planning & engineering. Inspection teams and engineers can use the captured digital images, road centerline maps, and other road-related information such as road segments, distance attributes, and mile marker positions.
Increasing real estate projects across the globe
The real estate segment held more than 15% mobile mapping market share in 2019 propelled by the growing demand for cost-effective mapping technology and location awareness from real estate companies to improve their marketing efforts and target more relevant customers. Mapping technology has widespread applications in the real estate, an industry that is inherently spatial in nature Real estate professionals measure the true impact of the location to make informed decisions in many areas such as appraisal, brokerage, and market analysis. Real estate professionals also offer offline maps to their customers, which they can use along with GPS to precisely locate a required site.
The rapid proliferation of GPS-enabled devices is fueling the North America market growth
North America mobile mapping market held a revenue share of over 35% in 2019. The rapid proliferation of low-cost sensors and GPS-enabled mobile computing devices is driving industry growth. The automobile sector continues to record steady growth in the region due to the high penetration of advanced technologies, such as GNSS, in transportation systems. Domestic automakers also contribute a great deal to boost the region’s economy.
The growing demand for nanosatellites in the defense and government sectors is driving the U.S. space industry. An increase in the deployment of satellites will fuel the need for smart sensors and the implementation of advanced technologies to capture geospatial information. Such factors are expected to drive the U.S. mobile mapping market growth.
Acquisition is the key strategy adopted by the leading mapping solution providers
Companies operating in the mobile mapping industry are focusing on the strategic acquisition of innovating mapping service providers to enhance their mapping capabilities. For instance, in January 2020, Hexagon AB acquired COWI, a leading mapping consulting company. The acquisition helped the company to provide its customers with access to highly accurate & precise geospatial mobile mapping data.
Major companies operating in the mobile mapping market are Apple, Inc., Aisan Technology, Autonavi, Baidu, Black & Veatch, Cycolmedia Technology B.V., EveryScape, Inc., Foursquare Labs, Inc., Garmin International, Google, Inc., Land Surveys, Leica Geosystems, Inc., Mapquest, Microsoft Corporation, Mitsubishi Electric Corporation, NAVTEQ Corp., NCTech, NovAtel, Inc., PASCO, PhaseOne, Pointgrey/ FLIR Integrated Imaging Solutions, Qualcomm, Inc., Sanborn, Telecommunications Systems, Inc. (TCS), Teledyne Optech Incorporated, TomTom International BV, Topcon Positioning Systems, Inc., and Trimble, Inc.
Explore More on Related Topics: