Apr 19, 2021 (AmericaNewsHour) -- The Mobile Mapping Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe's organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
Mobile mapping is a highly accurate method of gathering geospatial data from mobile vehicles. The system consists of various types of components such as positioning sensors, laser scanners, LiDAR, radar-mounted digital cameras, or numerous types of remote sensing devices mounted on a mobile platform such as SUV, boat, and all-terrain vehicle (ATV) depending upon the end-use applications. The result from such systems comprises digital maps, GIS data, and georeferenced images, and videos.
The 3D mobile mapping is one of the most important geospatial technologies available, which has the ability to change the way environments are measured, visualized, analyzed, and cataloged. Mobile mapping is used for various applications, such as land surveying, laser scanning, map creation, aerial surveys, and facility/road management. There is a rising awareness of the financial benefits of public infrastructure inventory and asset management solutions; this has significantly benefitted the market as mobile mapping systems offer distinctive applications in inventory and asset management. Advances in various technologies such as geographic information system (GIS) and global positioning system (GPS) have made the task of asset management easier. The Zagreb, a city in Croatia, has initiated projects designed to create GIS databases of roads and road infrastructure.
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This rising awareness about the financial benefits of inventory and asset management for public infrastructure has driven the growth of the mobile mapping market. The increasing market penetration of internet mapping, satellite imaging, and personal navigation has led to an increase in the number of business and research opportunities for geospatial communities. The collection of geospatial data and collecting and updating map and image information in a timely and accurate manner have become important in today's world. Use of multi-platform and multi-sensor technologies have sped up the process of geospatial data acquisition. Technology trends in mobile sensing devices and improved capacity of telecommunication bandwidth and distributed computing power have led to advancements in mobile mapping systems, which are expected to drive the growth of the mobile mapping market during the forecast period.
The global mobile mapping market, by component, has been segmented into hardware, software, and services. The mobile mapping systems are built using hardware components that are mounted on either an aerial vehicle or a car. Modern mobile mapping systems can also be mounted on helicopters and backpacks. The hardware segment shows a notable share among other components since the hardware components are the most important ones used to build mobile mapping systems. The hardware components include cameras, sensors, and controllers.Software is one of the vital components of the mobile mapping system. The software acts as a tool used to process, manipulate, classify, analyze, store, and update raw data and processes the captured information. The software offers a user interface for the operator, allowing them to set system parameters and manage data recording. The software segment is expected to grow at a significant rate in the years to come since there is an increasing demand for the highly precise location-based data processing and data extraction software which facilitate the development of accurate maps.
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In October 2018, Mitsubishi Electric Corporation launched a compact version of its mobile mapping system (MMS) called MMS-G. It can be used in field surveys and data acquisition for autonomous-driving maps; it helps in inspecting railroads, coastal embankments, hard-to-reach areas, among other applications.The global mobile mapping market was valued at USD 15.63 billion in the year 2017, which is expected to reach USD 32.47 billion by the end of the forecast period growing at ~13.42% CAGR.
The key players of mobile mapping market include Trimble Inc, Mitsubishi Electric Corporation, Google, PASCO CORPORATION, Huron Geomatics Inc, TOPCON CORPORATION, The Sanborn Map Company Inc., 3D LASER MAPPING, Apple Inc, NAVVIS, Telefonaktiebolaget LM Ericsson, NGC Aerospace Ltd, FARO Technologies Inc., Microsoft Corporation, Hexagon AB, TomTom International BV, IGI mbH, Hyper Tech, and Gexcel.
Global Mobile Mapping Market Analysis & Forecast, from 2017 to 2023
? To provide a detailed analysis of the market structure along with forecast for the next six years of the various segments and sub-segments included in the global mobile mapping market with analysis of its development and demand in the market
? Upcoming technologies, high growth geographies, and countries were identified
? Regional and country-specific demand and forecast for mobile mapping were studied
? Key segments covered in the report are component, solution, application, and end users
? Unit breakdown for all different classification was finalized, and the same was referred for forecasting, keeping few assumptions into factor
? For all the regions, forecast demand for all applications was identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
? Historical trend is identified to forecast and estimate the future value data
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? The global mobile mapping market is expected to reach USD 32.47 billion by 2023.
? By component, the hardware segment accounts for the largest market share and is expected to register approximately 12.36% CAGR during the forecast period.
? By solution, location-based solution sub-segment holds the largest market, registering approximately 10.69% CAGR by the end of the forecast period.
? By application, the land surveys segment accounted for the largest market value in 2017 and is expected to exhibit a CAGR of 12.13% during the forecast period.
? By end user, the real estate & construction segment accounted for the largest market share in 2017 and is expected to register a CAGR of 13.46% during the forecast period.
? Geographically, North America has been projected to have the largest market share in the global mobile mapping market, followed by Europe, while the market in Asia-Pacific has been projected to show positive growth in the global mobile mapping market.
Regional and Country Analysis of Mobile Mapping Market Estimation and Forecast.The global mobile mapping market is expected to grow at a promising rate during the forecast period, 2018-2023. North America accounts for the largest market share in the global mobile mapping market. The region witnesses a significant growth in the market due to the key market players such as Google Inc., Apple Inc., and Microsoft Corporation investing in the development of mobile mapping solutions across the US, Canada, and Mexico. Furthermore, there has been a rising adoption of mobile mapping to gather geospatial data in the North American countries, which also fosters market growth. Increasing adoption of smartphones equipped with GPS in the US, Canada, and Mexico also drives the market growth in this region.
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Europe accounts for the second largest market share in the global mobile mapping market. Europe is undergoing rapid growth in implementation of mobile mapping software and solutions, for various industry verticals such as government, banking & financial services, manufacturing, real estate, telecommunication, and transportation. Adoption of mobile mapping technology for various applications, namely automatic detection of traffic lights, road signs, walking pathways, and asset management and tracking boost the market growth in the European region. Asia-Pacific accounts for the third largest market share in the global mobile mapping market. The growing development and penetration of mobile mapping technology in China, Japan, India, Australia, New Zealand, South Korea, and Taiwan rapidly drive the market growth in this region. In addition, Asia-Pacific witnesses a high demand for mobile mapping technology for land vehicle navigation, smart highway systems, and smart transport systems.
? Software developers
? System integrators
? Technology investors
? Research Institutes
? Suppliers and Distributors
? GIS vendors
? Service providers
How does the report examine the growth drivers and restraints of Mobile mapping Market ?