Mobile Mapping Market is Projected To Reach USD 127.3 Billion By 2031 | Novatel Inc, Optech LLC, Pasco Corporation
The market growth is affected by the high initial investment. furthermore, the emergence of automated driving technology influences market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 4, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global mobile mapping market amassed revenue of $24.2 billion in 2021, and is expected to hit $127.3 billion by 2031, registering a CAGR of 18.2% from 2022 to 2031. The market research study provides a detailed analysis of changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving industry.
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Swift acceptance of satellite mapping technology along with its seamless integration into smartphones and IoT equipment boosts the growth of the global mobile mapping market. Integration of mobile mapping with wearable smart instruments and expansion of mapping analytics will open new growth avenues for the global market. Based on region, North America contributed toward the highest market share in 2021
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.
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The report offers detailed segmentation of the global mobile mapping market based on offering, deployment model, application, industry vertical, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
In terms of the offering, the solution segment was the largest in 2021, accounting for around two-thirds of the overall share of the global mobile mapping market. Moreover, this segment is predicted to retain its dominant position during the forecast timespan. However, the service segment is set to record the highest CAGR of 19.1% from 2022 to 2031.
On basis of the deployment model, the on-premise segment held the largest share in 2021, contributing to nearly three-fifths of the overall mobile mapping market. Moreover, this segment is predicted to account for the highest market share by 2031. However, the cloud segment is also anticipated to record the fastest CAGR of 19.2% during the forecast timeframe.
Based on the enterprise size, the large enterprises segment held the largest share in 2021, contributing to more than two-thirds of the global mobile mapping market share. Moreover, this segment is predicted to account for the highest market share by 2031. However, the SMEs segment is expected to register the highest CAGR of 19.3% during the forecast period.
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On basis of application, the topographic mapping segment held a major share of the global market in 2021, accounting for more than one-third of the global mobile mapping industry share. Moreover, this segment is predicted to contribute the highest market share by 2031. However, the asset management segment is expected to register the highest CAGR of 20.0% during the forecast period.
Based on region, North America contributed toward the highest market share in 2021, accounting for around two-fifths of the global mobile mapping market share. Moreover, the region is also set to contribute majorly toward the global market share in 2031. However, the Asia-Pacific mobile mapping market is predicted to register the highest CAGR of 20.2% during the forecast timespan. The research also analyzes regions including LAMEA and Europe.
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.
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