(IT-NEWSWIRE.COM, January 12, 2022 ) According to a research report "Mobile Mapping Market with COVID-19 Impact Analysis, by Application (Road Surveys, Topographic Mapping, 3D Modelling, Asset Management), Industry Vertical (Oil and Gas, Real Estate, Government) and Region - Global Forecast to 2026" published by MarketsandMarkets, the global mobile mapping market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.5% during the forecast period, to reach USD 66.7 billion in 2026 from USD 27.3 billion in 2021. Key factors that are expected to drive the growth of the market are the growing investments in smart city projects, adoption of advanced technology for surveying and mapping and increase in use of geospatial data.
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Topographic Mapping segment to hold a larger market size during the forecast period.
Based on applications, the Mobile Mapping Market is segmented into road surveys, topographic mapping, 3D modeling, asset management and other applications. Topographic mapping segment to hold a larger market size during the forecast period. A topographic survey is typically based upon systematic observation and published as a map series, consisting of two or more map sheets that combine to form the whole map. A topographic map series uses a common specification that includes the range of cartographic symbols employed, as well as a standard geodetic framework that defines the map projection, coordinate system, ellipsoid, and geodetic datum. Official topographic maps also adopt a national grid referencing system. Recent advances in mobile mapping technology enable new capabilities and complement or even replace traditional survey methods of topographical surveying.
Manufacturing industry vertical to grow at a higher CAGR during the forecast period.
The manufacturing vertical faces various challenges, such as cargo, machinery, and equipment tampering; uneven operational workflow; false trade billing; liability protection; property damages; fires; and raw material thefts. Security of the staff, inventory, machinery, plant, and tools have to be managed and controlled to avoid any type of damages and provide an accident-free working environment. These challenges can be addressed using advanced and intelligent mobile mapping solutions. Mobile mapping technology further enables organizations to monitor the working environment and employee activities by providing increased workplace safety, preventing losses, monitoring daily operations, saving time and efforts by remote monitoring, and reducing OPEX. Further, mobile mapping technology plays an important role in the production of autonomous driving technology as it provides the digital world to meet the navigation safety requirements of future autonomous vehicle applications. Thus, car manufacturers utilize mobile mapping technology to produce accurate navigation services to meet the demand from the automotive industry.
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North America to account for the highest market share during the forecast period
The Mobile Mapping Market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The Mobile Mapping Market report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall Mobile Mapping Market during the forecast period. Following North America, Europe is expected to hold the second-highest market share during the forecast period. The presence of many mobile mapping vendors in the US and high awareness among enterprises about the benefits of mobile mapping solutions as part of strong marketing strategies, Investments in various technologies, including AI, IoT, big data, AR, and VR, and the growing rate of adoption of cloud services expected to drive the market in North America. Europe and MEA are also expected to witness high growth rates during the forecast period.
The Mobile Mapping Market comprises major providers, such as Apple(US), AutoNavi(China), Black & Veatch(US), Garmin International(US), Google(US), Land Surveys(Australia), MapQuest(US), Microsoft (US), Mitsubishi Electric Corporation(Japan), Novatel Inc (Canada), Qualcomm (US), Comtech Telecommunications(US), Trimble (US), Ericsson(Sweden), TomTom(Netherlands), Foursquare Labs(US), Pasco Corporation (Japan), Topcon(Japan), NavVis(Germany), GeoSLAM(England),and Leica Geosystems (Switzerland).
The study includes an in-depth competitive analysis of key players in the Mobile Mapping Market with their company profiles, recent developments, COVID-19 developments, and key market strategies.
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Mr. Aashish Mehra