Newark, April 19, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 25.0 billion mobile mapping market will reach USD 141.1 billion by 2032. The process of collecting geographical data from a mobile vehicle equipped with photography, laser, radar, LiDAR, GNSS, or any number of remote sensing devices is known as mobile mapping. The mobile mapping software systems comprise a synchronized array of navigation and image sensors installed on a mobile platform. GIS data, digital maps, and geo-referenced photos and videos are the principal outputs of such systems. Geo-matching inquiries from influential organizations such as NASA to small surveying firms globally are one aspect of increasing the mobile mapping sector.
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North America to account for the largest market size during the forecast period.
North America is expected to have the most significant mobile mapping market share. Rapid GDP growth in North American countries has resulted in infrastructure renovation plans such as mass public transportation networks and innovative city developments, increasing demand for mobile mapping technologies. Furthermore, fast mobile device manufacturing significantly reduced the cost of cameras, scanners, and other components, lowering the cost of location-based services for Businesses and private individuals.
The service segment dominated the market with the most significant revenue of USD 14.2 billion in 2022.
The service segment dominated the market with the most significant revenue of USD 14.2 billion in 2022. Over the forecast period, the services category increased fastest, owing to increased mobile mapping services among end users. They ensure the flawless operation of solutions and platforms throughout the mapping process.
The satellite segment accounted for the largest share of the market, with a market revenue of USD 8.4 billion in 2022.
The satellite segment accounted for the largest share of the market, with a market revenue of USD 8.4 billion in 2022. Current market developments are aimed at monitoring water bodies. For example, the problem of illegal fishing and trafficking necessitated searching for ocean anomalies. According to Nature Ecology & Evolution experts, illegal fishing may account for up to 30% of overall fisheries in some areas, such as the western and central Pacific oceans. Statistics from the Food and Agriculture Organization of the United Nations (FAO) highlight the global impact of illegal, unreported, and unregulated (IUU) fishing. Global IUU fishing represents up to 26 million metric tonnes of fish caught annually (equivalent to USD 10 billion-USD 23 billion). One such project was a collaboration between DigitalGlobe and Planet to identify illegal activities. The collaboration attempts to detect unlawful transhipments of fisheries.
Recent Development
● In October 2022, Javad GNSS Inc. unveiled several revolutionary GNSS solutions for geospatial applications. The TRIUMPH-1M Plus and T3-NR smart antennas, for example, feature updated Wi-Fi, UHF, Bluetooth, and power management modules, integrating the most recent satellite tracking technology into the GIS offers.
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Market Dynamics
Drivers: Rising Investment
Issues such as increased demand for accurate land-based maps and increased investment in smart city initiatives impact the global growth of mobile mapping. Therefore, the substantial initial investment has an impact on the market expansion. Furthermore, the introduction of automated driving technologies impacts market growth. Nonetheless, each of these variables is expected to impact global mobile mapping growth during the forecast period significantly.
Restraint: Highly Competitive
This market is highly competitive because multiple competitors want to be at the top, so they created various technologies. Furthermore, as a result, consumers need help selecting a single mobile mapping technology.
Opportunity: Rising Usage of Mobile Mapping in Various End User Industries
Indoor maps for pedestrian navigation, aerial surveys, high-definition (HD) maps for autonomous vehicles, hydrographic surveys, asset and infrastructure management, pipeline surveys, dredging, and offshore positioning/drilling operations are all examples of how mobile mapping systems are employed. Introducing on-demand deployment technologies represents a tipping point in the mobile mapping business since it offers high flexibility and accuracy at cheap initial costs (customers are charged monthly/quarterly).
Challenge: High Cost
The mobile mapping sector is experiencing difficulties as a result of privacy issues. Because of privacy issues, consumers are hesitant to use mobile mapping. Furthermore, the market needs to catch up to the high manufacturing cost.
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Some of the major players operating in the mobile mapping market are:
● Microsoft Corporation
● Pasco Corporation
● Qualcomm Inc.
● EveryScape Inc.
● Mitsubishi Electric Corporation
● Trimble Inc.
● Google LLC
● Black & Veatch
● Apple Inc.
● GeoSLAM
● Leica Geosystems
● Hexagon AB
● Novatel Inc
● Foursquare Labs
● Javad GNSS Inc.
● Teledyne Optech LLC
● MapJack
Key Segments cover in the market:
By Offering:
● Solution
● Service
By Application:
● Imaging Services
● Facility Management
● Aerial Mobile Mapping
● Internet Application
● Emergency Response Planning
● Satellite
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About the report:
The global mobile mapping market is analysed based on value (USD billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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