Press release
Mobile Mapping Market - Technological Advancements, Evolving Industry Trends and Insights 2017 - 2022
The global mobile mapping market is predicted to display a strong 13.7% CAGR over the forecast period between 2017 and 2022. At this pace, the market’s valuation of US$12.9 bn in 2017 will become US$24.4 bn by 2022 end. Based on solution, location based services segment is predicted to dominate through 2022, rising at a CAGR of 16.2% therein. In absolute value, the segment is predicted to be worth US$10.1 bn by the end of 2022.With mobile mapping applications increasingly becoming common in smart electronics, the location based services segment is poised to remain dominant contributor to the overall market. The location based services segment held 37.2% of the global mobile mapping market in 2017.
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By geography, North America is predicted to continue to remain dominant region for mobile mapping. Extensive use of advanced smartphones and surge in development of mobile mapping technology based apps are key to the growth of North America mobile mapping market.
The global mobile mapping market is segmented by solution into location based services, indoor mapping, 3D mapping, support services, and other solutions. Of these, location based services are likely to dominate the global mobile mapping market over the 2017-2022 forecast period, exhibiting a strong 16.2% CAGR therein.
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The market for location based services has grown rapidly over recent years due to rapid development of mobile mapping applications in smartphones and is likely to remain the dominant contributor to the global mobile mapping market over the coming years.
The location based services segment accounted for 37.2% of the global mobile mapping market in 2017, with a valuation of US$4.8 bn. By the end of the 2017-2022 forecast period, location based services are likely to account for 41.5% of the global mobile mapping market, with a valuation of US$10.1 bn.
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