Mobile Mapping Technology For Smart Cities Is Designed To Improve People’s Quality
Increase in adoption of mobile devices and increase in introduction of improved mobile network connections are the key factors driving market revenue growth
Market Size – USD 26.43 Billion in 2021, Market Growth – at a CAGR of 19.2%, Market Trends – Automated Driving System (ADS) on vehicle is becoming more widespread.
The global mobile mapping market size is expected to reach USD 127.63 Billion in 2030 and register a revenue CAGR of 19.2% over the forecast period, according to a latest report by Reports and Data. Increase in adoption of mobile devices and increase in introduction of improved mobile network connections are expected to drive market revenue growth during the forecast period. Automated Driving System (ADS) on vehicle is becoming more widespread which is also expected to boost revenue growth of the market. A steady flow of product development investment and research activities has boosted the global mobile mapping market significantly. The increased interest in mobile mapping apps from internet companies and manufacturers is projected to significantly boost mobile mapping market revenue growth during the forecast period.
In today’s fast paced world, internet connectivity is playing a vital role in urban as well as rural areas. Startups are focusing on developing new technological solutions to address these infrastructural issues. The mapping and development of a better network for the e-commerce logistics industry is a key focus area. The device’s map then directs the field executive in sequential order to his distribution sites. While the downloaded map is offline, the delivery executive’s activity is tracked in real-time, allowing for dynamic routing of new delivery or pick-up requests based on the executive’s position.
However, high cost of system acquisition is expected to hamper revenue growth of the market during the forecast period. Enterprises are rapidly embracing digitalization by implementing innovative technology to streamline and optimize their business operations. Mobile mapping solutions may speed up the process of scanning the surroundings, boost flexibility, and improve security, but still contribute to a company’s capital expenditure. Scanners, encoders, cameras, and other IT applications would be necessary for companies searching for full mobile mapping solutions. Companies also have to pay more money to safeguard the gadgets and the entire network. In firms with limited budgets, the initial expense of using mobile mapping systems will limit uptake. As a result of the high cost of system acquisition and deployment, such systems are rarely used for routine road corridor surveys. Therefore, it poses a challenge to the mobile mapping market.
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Some Key Highlights in the Report
- Hardware segment is expected to account for largest revenue share in the global mobile mapping market over the forecast period, owing to rising demand for in-car navigation. This is expected to drive the market revenue growth during the forecast period.
- Enterprise segment is expected to grow at steady revenue growth over the forecast period owing to increasing adoption of mobile mapping technology among enterprises for providing reliable and precise time and location-based information services in order to enable cost-effective futuristic planning of cities, transportation, and services.
- Asia Pacific mobile mapping market is expected to account for largest revenue share in the global market over the forecast period due to the rapid increase in adoption of mobile mapping technology across industry verticals such as manufacturing, government, banking and financial services, real estate, telecommunications, and transportation among others in countries in the region.
- Companies profiled in the global market report include Apple Inc., Google LLC, Microsoft Corporation, Black and Veatch Holding Company, Mitsubishi Electric Corporation, NovAtel Inc., Telefonaktiebolaget LM Ericsson, Comtech Telecommunications Corp., Trimble Inc., and Pasco Corporation.
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For the purpose of this report, Reports and Data has segmented the global mobile mapping market based on component, user type, application, end use, and region:
Mounting Type Outlook (Revenue, USD Billion; 2019-2030)
Deployment Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
- Road mapping
- 3D city modelling
- Environmental monitoring
- Autonomous navigation
- Archeological scanning
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Latin America
- Middle East & Africa
This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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