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.
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.
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.
During the COVID-19, Mobile Mapping Software has played a crucial role in acquiring the travel history and location of affected persons. Governments are increasingly using mobile mapping tools to map demographic data and correlate it with spread of the disease distribution in a particular area. So, the pandemic had a positive impact on the mobile mapping market. In addition, the pandemic has had a significant impact on hardware manufacturers due to disruptions in the supply chain and government-imposed restrictions.
KEY FINDINGS OF THE STUDY
- By offering, the solution segment accounted for the largest mobile mapping market share in 2021.
- By deployment mode, on-premise segment generated highest revenue in 2021.
- By enterprise size, large enterprises segment generated highest revenue in 2021.
- By region, North America generated highest revenue in 2021.
- By vertical, the construction & real estate segment generated the highest revenue in 2021.
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.