Mobile Mapping Market Analysis by Mounting Type (Vehicle-Mounted, Railway-Mounted, Drone-Mounted, and Boat Mounted); by Deployment (Cloud, On-premise, and Others); and by Application (Road Mapping, 3D City Modelling, Environmental Monitoring, Autonomous Navigation, Archeological scanning, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
13 Sep 2022
Healthcare & Pharmaceuticals
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
The Research Report is Updated with 2021 Base Year, 2022 Estimated year and Forecast till 2031 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2021 as base year, 2022 as estimated year and forecast to 2031. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Global Mobile Mapping Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global mobile mapping market is estimated to garner a revenue of ~ USD 128 billion by the end of 2031 by growing at a CAGR of ~19% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~ USD 26 billion in the year 2021. Mobile mapping involves making a map and is especially beneficial in efficiently mapping inaccessible areas while collecting geospatial data from a moving vehicle. The mobile vehicles should have different sensors and the geospatial data collected indicates the absolute or relative position of objects on earth. The worldwide growth of smart city projects is the primary factor driving the growth of the global mobile mapping market. For instance, globally, the technological spending on smart city initiatives is projected to increase from about USD 82 billion to over USD 189 billion between 2018 and 2023.
Presently the United States (U.S.) is estimated to hold more than 25% of the global expenditure on initiatives on smart city technology. Additionally, China alone is deploying more than 790 country-wide smart city programs.
Global Mobile Mapping Market: Growth Drivers and Challenges
Growing Initiatives for The Growth of Digitization – The global spending on digital transformation (DX) is projected to grow from ~USD 2 trillion in 2022 to ~USD 3 trillion by 2025. Further, it is projected that more than 60% of the world’s gross domestic product (GDP) should be digitized by 2022. Over 55% of enterprises were thought to prioritize digital transformation as of 2021. Improving operational efficiency (~41%) and meeting the changing customer expectations (~36%) are the main reasons for digital transformation among businesses. Additionally, close to 98% of executives agree that the changes brought about by COVID-19 have sped up digital transformation efforts worldwide. The developments in digitization result in the growth of the mobile mapping industry, as mobile mapping is a method of mapping using very few non-renewable resources.
Rapid Growth in Urbanization Globally – It is estimated that by 2040, about 65% of the global population should be living in cities. Additionally, more than 1 million people are estimated to move to cities each week.
Comprehensive Implementation of Mobile Tracking to Contain COVID-19 – In 2020, ~91% increase was observed in the number of countries using digital tracking measures.
Commendable Growth of the Autonomous Vehicle Industry – It has been observed that globally the autonomous vehicle industry grows by more than 15% yearly.
Slowing Down of Hardware Manufacture Following COVID-19 Restrictions
High Initial Capital Expenditure (CAPEX) on Infrastructure
Limited Range of the Class 1 Eye Safe Laser Usually Used in Mobile Mapping
The global mobile mapping market is segmented and analyzed for demand and supply by application into road mapping, topographic mapping, 3D city modeling, environmental monitoring, autonomous navigation, archeological scanning, and others. Topographic mapping is implemented in several scenarios, including large-scale architecture, geographic planning, civil engineering, mining, and other earth-based endeavors, and for recreational processes, including orienteering and hiking. The growing scope of technologies, including mobile mapping in these fields, is thought to result in global mobile mapping market growth. For instance, it is projected that by 2025, about 21% of the global mining industry should be adopting smart sensors.
Global Mobile Mapping Market Regional Synopsis
Regionally, the global mobile mapping market is studied in five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in the North American region is projected to hold the largest market share by the end of 2031. The growing investments and the growth of technologies, including big data, artificial intelligence (AI), the internet of things (IoT), cloud services, and more, are thought to drive the growth of the mobile mapping market in North America. For instance, the third quarter of 2020 saw an increase in the budgets for AI-focused companies in the U.S. alone, surpassing USD 4 billion. Additionally, the number of consumers of IoT connections in North America is projected to grow to ~6 billion by 2025.
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Our in-depth analysis of the global mobile mapping market includes the following segments:
By Mounting Type
Key Companies Dominating the Global Mobile Mapping Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global mobile mapping market that are included in our report are Leica Geosystems AG - Part of Hexagon, Trimble Inc., Optech LLC, RIEGL Laser Measurement Systems GmbH, Mosaic, MapQuest Holdings LLC (System1 LLC), Mitsubishi Electric Corporation, Hitachi, Ltd., NovAtel Inc., and Comtech Telecommunications Corp, and others.
Global Mobile Mapping Market: Latest Developments
May, 2022: Leica Geosystems AG - Part of Hexagon – introduced Leica Pegasus TRK, a reality capture mobile mapping system incorporating intuitive interfaces, artificial intelligence, and autonomous workflows.
July, 2022: Trimble Inc.- introduced the Trimble TDC650 handheld, a novel high-performance data collector for its Mapping and Geographic Information Systems (GIS) and activities related to inspection and asset management.
Key Reasons to Buy Our Report
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
Smart city projects, rapid urbanization and digitization, increased implementation of mobile tracking during the pandemic and the growth of autonomous vehicles are the major factors driving the growth of the global mobile mapping market.
The market is anticipated to attain a CAGR of ~19% over the forecast period, i.e., 2022 – 2031.
COVID-19 restrictions affecting the manufacturing of hardware, considerable high CAPEX of infrastructure, and the limited range of laser used in mobile mapping are the challenges affecting the market growth.
Which region will provide more business opportunities for growth of mobile mapping market in future?
The market in the North American region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market Leica Geosystems AG - Part of Hexagon, Trimble Inc., Optech LLC, RIEGL Laser Measurement Systems GmbH, Mosaic, MapQuest Holdings LLC (System1 LLC), and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by mounting type, deployment, application and by region.
The topographic mapping segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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- Leica Geosystems AG - Part of Hexagon
- Trimble Inc.
- Optech LLC
- RIEGL Laser Measurement Systems GmbH
- MapQuest Holdings LLC (System1 LLC)
- Mitsubishi Electric Corporation
- Hitachi Ltd.
- NovAtel Inc.
- Comtech Telecommunications Corp