Mobile Mapping Market Sets New Record, Projected at USD 127.3 Billion By 2031 at 18.2% CAGR: AMR

Mobile Mapping Market Size

Integration of mobile mapping with wearable smart instruments and expansion of mapping analytics will open new growth avenues for the global market.

PORTLAND, PORTLAND, OR, UNITED STATES, November 23, 2023 /EINPresswire.com/ — As per the findings presented in the report by Allied Market Research, the global mobile mapping market achieved a revenue of $24.2 billion in 2021 and is anticipated to reach $127.3 billion by 2031, indicating a Compound Annual Growth Rate (CAGR) of 18.2% from 2022 to 2031. The comprehensive market research delves into the dynamic shifts in industry trends, pivotal segments, value chain assessment, key investment scenarios, regional landscape, and competitive dynamics.

This study serves as a crucial information repository for major players, entrepreneurs, stakeholders, and proprietors, enabling them to formulate innovative strategies for the future and enhance their market positioning. The report presents a thorough quantitative analysis of the market spanning the period from 2022 to 2031, offering valuable guidance to investors seeking to allocate funds in this rapidly evolving industry.

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Mobile mapping is the process of gathering geographical data from a vehicle, commonly used in applications like road and aerial mapping, emergency response planning, and facility management. Various remote sensing devices such as laser, radar, LiDAR, and photography are employed for data collection, generating outputs like digital maps, GIS data, and geo-referenced videos. The mobile mapping market is driven by factors like telecommunications infrastructure development, increased adoption of mobile mapping devices, and investments in smart city projects. However, high initial investment poses a challenge to market growth. The emergence of automated driving technology presents lucrative opportunities in the mobile mapping market.

In terms of offerings, the solutions segment dominated the Mobile Mapping Market Size in 2021, driven by smartphone proliferation and the use of cloud-based mobile mapping solutions. The services segment is expected to experience the highest growth rate, reflecting increased adoption among end users to ensure effective functionality of mobile mapping software solutions and platforms.

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Regarding deployment mode, the on-premise segment led the growth of the Mobile Mapping Industry in 2021, maintaining its dominance due to advantages like end-to-end control and significant software customization. Nonetheless, the cloud segment is anticipated to witness the highest growth rate during the forecast period, attributed to its handling of routine tasks such as maintaining, provisioning, and scaling server infrastructure.

In 2021, the large enterprises segment dominated the global mobile mapping market, holding over two-thirds of the market share. This segment is anticipated to maintain its leading position, accounting for the highest market share by 2031. Conversely, the SMEs segment is projected to exhibit the most substantial Compound Annual Growth Rate (CAGR) of 19.3% throughout the forecast period.

Regarding applications, the topographic mapping segment commanded a significant share of the global market in 2021, contributing to over one-third of the industry’s share. It is expected to continue its dominance and hold the highest market share by 2031. However, the asset management segment is forecasted to experience the highest CAGR of 20.0% during the forecast period.

Geographically, North America played a pivotal role in the mobile mapping market in 2021, representing approximately two-fifths of the global market share. This region is poised to maintain its significant contribution to the market in 2031. In contrast, the Asia-Pacific mobile mapping market is anticipated to register the highest CAGR of 20.2% during the forecast period. The analysis also extends to other regions, including LAMEA and Europe.

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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.

Key participants in the global mobile mapping market examined in the research include Hexagon AB, Microsoft Corporation, EveryScape Inc., Qualcomm Inc., Teledyne Optech LLC, Trimble Inc., Mitsubishi Electric Corporation, Javad GNSS Inc., Google LLC, Black & Veatch, Apple Inc., Foursquare Labs, Pasco Corporation, GeoSLAM, Leica Geosystems, Novatel Inc., and MapJack.

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, the 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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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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