At a CAGR of 18.2% | Mobile Mapping Market Set to Witness Exponential Growth in Coming Years

PORTLAND, PORTLAND, OR, UNITED STATE, April 30, 2024 /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 study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to enhance their market position. 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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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.

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.

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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.

Covid-19 Impact:

During 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.

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.

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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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.

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.

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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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