Mobile Mapping Market Size to Grow USD 127.3 Billion by 2031 at a CAGR of 18.2% | Valuates Reports
BANGALORE, India, May 24, 2023 /PRNewswire/ -- The Global Mobile Mapping Market is Segmented by Offering (Solution, Service), By Deployment Model (On-premise, Cloud), By Enterprise Size (Large Enterprises, SMEs), By Application (Topographic Mapping, Road Surveys, 3D Modeling, Asset Management, Others), By Industry Vertical (Construction & Real Estate, Energy & Utilities, Transportation & Logistics, Retail, Government & Public Sector, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031. It is published in Valuates Reports under the GPS & Navigation Category.
The global Mobile Mapping Market was valued at USD 24.2 Billion in 2021 and is projected to reach USD 127.3 Billion by 2031, growing at a CAGR of 18.2% from 2022 to 2031.
Major factors driving the growth of the Mobile Mapping Market:
Global expansion of the mobile mapping market is influenced by factors including rising investments in smart city initiatives and the rising need for reliable land-based maps. Additionally, the development of autonomous driving technologies affects market expansion.
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TRENDS INFLUENCING THE GROWTH OF MOBILE MAPPING MARKET:
Mobile Mapping Market Growth is being driven by the quick uptake of satellite mapping technology and its easy integration into smartphones and Internet of Things (IoT) linked devices. The global navigation satellite system (GNSS) is increasingly being used in 3D mapping, environmental monitoring, machinery control, accident investigation, and disaster response, which has increased the need for mobile mapping services. Additionally, the market for mobile mapping is encouraging the creation of innovative methods for quick and automatic data collecting with the aid of the most recent 5G internet. Additionally, throughout the anticipated period, the integration of mobile mapping with wearable smart devices and the expansion of mapping analytics is projected to present attractive development prospects for the mobile mapping market.
The foundation of smart cities is the digitalization of urban infrastructure, planning, and resource optimization, and digital initiatives are the secret to a successful transition. There are several smart city initiatives in the works, which are changing the urban development environment through urban digitalization and information and communication technology. Spatial data is the foundation for urban development planning in smart city initiatives. Mixed reality 3D maps and models that depict the terrain in great detail are included. Organizations require a trustworthy and accurate spatial database in order to build and operate smart cities and serve as a source of revenue for city administrators.
Rising customer expectations and other technology breakthroughs are to blame for the construction of the infrastructure for autonomous linked vehicles. The mobile mapping system aids in vehicle planning and offers a safety net of sensors to make autonomous driving safer in low visibility and weather situations. By taking into account the challenges of driving, automation may significantly increase the comfort of the driver. High-end mobile mapping technologies are required for autonomous driving. Therefore, the development of autonomous driving technology is opening up a wide range of Mobile Mapping market expansion potential.
A GPS-enabled Inertial Measurement Unit (IMU), a laser scanner, and two cameras are used in road mapping for usage on cars. The cost-effective mobile mapping system for road mapping collects and processes data fast and correctly. Road markings, bridges, and overhead wires are just a few examples of highway infrastructure that is frequently planned and maintained using spatial data from road mapping. This factor is expected to drive the growth of the Mobile Mapping market.
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