DUBLIN, January 19, 2022--(BUSINESS WIRE)--The "Mobile Mapping Market with COVID-19 Impact Analysis, by Application (Road Surveys, Topographic Mapping, 3D Modelling, Asset Management), Industry Vertical (Oil and Gas, Real Estate, Government) and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global mobile mapping market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.5% during the forecast period, to reach USD 66.7 Billion in 2026 from USD 27.3 Billion in 2021.
Key factors that are expected to drive the growth of the market are the growing investments in smart city projects, adoption of advanced technology for surveying and mapping and increase in use of geospatial data.
The COVID-19 Impact on the global mobile mapping market
The impact of the COVID-19 pandemic on the market is covered throughout the report. The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic has had a positive impact on the mobile mapping market. Mobile mapping has increasingly gained market traction amid the ongoing COVID-19 pandemic for mapping the travel history and location of infected individuals. Governments are substantially adopting mobile mapping tools to map demographics data and correlate this data with the spread of the disease across a region. At the same time, the pandemic has had a significant impact on hardware manufacturers due to disruptions in the supply chain and government-imposed restrictions.
The topographic mapping segment is expected to hold at a higher market share during the forecast period
Based on applications, the mobile mapping market is segmented into road surveys, topographic mapping, 3D modeling, asset management and other applications. Topographic mapping segment to hold a larger market size during the forecast period. A topographic survey is typically based upon systematic observation and published as a map series, consisting of two or more map sheets that combine to form the whole map.
A topographic map series uses a common specification that includes the range of cartographic symbols employed, as well as a standard geodetic framework that defines the map projection, coordinate system, ellipsoid, and geodetic datum. Official topographic maps also adopt a national grid referencing system. Recent advances in mobile mapping technology enable new capabilities and complement or even replace traditional survey methods of topographical surveying.
Manufacturing industry vertical is expected to grow at a higher CAGR during the forecast period
The manufacturing industry vertical to grow at a higher CAGR during the forecast period. The manufacturing vertical faces various challenges, such as cargo, machinery, and equipment tampering; uneven operational workflow; false trade billing; liability protection; property damages; fires; and raw material thefts. Security of the staff, inventory, machinery, plant, and tools have to be managed and controlled to avoid any type of damages and provide an accident-free working environment. These challenges can be addressed using advanced and intelligent mobile mapping solutions.
Mobile mapping technology further enables organizations to monitor the working environment and employee activities by providing increased workplace safety, preventing losses, monitoring daily operations, saving time and efforts by remote monitoring, and reducing OPEX. Further, mobile mapping technology plays an important role in the production of autonomous driving technology as it provides the digital world to meet the navigation safety requirements of future autonomous vehicle applications. Thus, car manufacturers utilize mobile mapping technology to produce accurate navigation services to meet the demand from the automotive industry.
APAC to grow at the highest CAGR during the forecast period
The mobile mapping market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The mobile mapping market in APAC is expected to witness exponential growth, mainly because of the rising awareness and development of smart city projects, and the growing manufacturing industry. The rapid growth in mobile device manufacturing has considerably reduced the cost of cameras, scanners, and other components, thereby making it cheaper for SMEs and private individuals to utilize location-based services.
Growing Investments in Smart City Projects
Adoption of Advanced Technology for Surveying and Mapping
Increase in Use of Geospatial Data
Initial Capex for Infrastructure
The Emergence of Automated Driving Technology
Advent of 5G Network to Deliver Instant Location Information
Limited Range of Laser in Mobile Mapping Systems
Concerns Regarding Data Accuracy
Black & Veatch
Mitsubishi Electric Corporation
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