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Mobile Mapping Market Set To Grow At Healthy CAGR Forecast By 2024 With Top Key Players Like Apple Inc., Baidu Inc, Black & Veatch, Google, Land Surveys, Leica Geosystems part of Hexagon, Microsoft, PhaseOne, Qualcomm, Topcon Positioning Systems, Inc., Tr

03-13-2020 11:32 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

/ PR Agency: Mobile Mapping Market
Mobile Mapping Market

Mobile Mapping Market

North America dominated the global mobile mapping market landscape in 2017 with over 40% of global share. Widespread penetration of technologies such as LiDAR, GNSS, and GPS across diverse industry verticals is majorly influencing mobile mapping business trends. In addition, the region houses some of the most eminent technology majors such as Microsoft, Apple, and Google, which justifies the region's technological supremacy with respect to the technology. Proliferation of low-cost sensors and GPS equipped mobile devices in the region is further intensifying mobile mapping market trends.

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In terms of regional contribution, Europe is following North America's lead and had procured more than 25% of global share in 2017. Intensifying government investment towards the development of mobile mapping technology is influencing market growth positively. The same can be validated by the establishment of the Geospatial Data Commission by the UK government.

Elaborating further on the regional landscape, Asia pacific mobile mapping market is estimated to showcase rapid growth momentum in the ensuing years. Fast-track urbanization and expeditious infrastructure development activities is paving the way for the expansion of market.

The Major Key Players in the Market are as follows:
1. Apple Inc.
2. Baidu Inc,
3. Black & Veatch
4. Google
5. Land Surveys
6. Leica Geosystems part of Hexagon
7. Microsoft
8. PhaseOne
9. Qualcomm
10. Topcon Positioning Systems, Inc.
11. Trimble, Inc.

With rapid penetration of mobile devices across the globe and towering demand for mapping services across a slew of use cases in different verticals, global mobile mapping market is set to achieve noteworthy growth. Mobile mapping services are being widely used for activities ranging from fleet management, asset management, to maintenance of cable network.

Mobile mapping hardware solutions are experiencing exponentially augmenting demand across numerous applications, which is likely to aid the market garner significant proceeds. Laser ranging and scanning devices, in particular, are witnessing heightened demand on account of their easy operability across demanding environments. Laser ranging and scanning devices hardware segment is anticipated to expand at a CAGR of above 15% over 2018-2024. Similarly, positioning devices have been gaining remarkable traction in the automotive sector for driving assistance and navigation purposes and are likely to contribute substantially to mobile mapping market.

Considering other components of mobile mapping market, software segment is estimated to demonstrate steady growth and expand at a CAGR of more than 15% during 2018-2024. The services segment is also poised to exhibit a CAGR of over 15% over the forecast timeframe owing to penetration of mobile mapping technology in numerous verticals.

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Mobile mapping technology is finding prominent deployment across multiple verticals, where the technology is being used for deriving GIS data. As per estimates, GIS data collection accounts for more than 70% of overall market revenue. Technology giants providing mapping solutions extensively use the technology to collect georeferenced data and increase precision of their maps.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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