Mobile mapping technology is improving with leaps and bounds, as the demand for better quality data is increasing. Most mobile mapping equipment are fitted with photographic, laser, LiDAR, and radar systems, along with several other types of remote sensing devices used for receiving the required information. Many of these sensors and devices are in the form of an integrated array, which generate digital maps, GIS data, georeferenced images, GIS-based videos, and others.
Which regions are expected to rake in maximum revenue in the global mobile mapping market?
With respect to key regions, North America is a leading region in the market for mobile mapping which is anticipated to hold onto its dominant position in future due to several factors. An extensive use of latest smartphones along with a requirement for quality mapping technology has made North America clock maximum sales growth with regards to the global mobile mapping market. This region has registered a valuation of US$3.6 bn in 2017, which is further anticipated to grow up to US$7.9 bn by the end of the forecast period of 2022. The inexhaustible hunger of prominent app developers and tech companies in the North American region to push the mobile mapping technology is responsible for a high growth of the market. Apart from North America, the mobile mapping market in Japan is also expected to show a huge growth in the upcoming years, due to the success gained by local mobile mapping market players.
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Why is the global mobile mapping market experiencing a stellar growth?
The global market is showcasing an impressive growth in the wake of rapid development of satellite mapping technology. This is further getting integrated smoothly into mobile phone design, which has also proved beneficial to the global market’. A healthy CAGR of 13.7% is expected to be shown by this market during the forecast period from 2017 to 2022, as per a recently published report by Transparency Market Research. With improving economies of nations across the globe and resultant changes in lifestyle, advanced cellphones are being used that are compatible with the latest mobile mapping software-based apps. This also is one of the foremost reasons for the global market showing significant progress in the past couple of years. As apps continue getting better, the data received improves too, thus contributing to the demand for the good mobile mapping experience. In this way, the market is expected to expand significantly in the near future.
How is the segmentation scenario in the global mobile mapping market?
From the perspective of solutions criteria, the global market is divided into the following segments: location based services, 3D mapping, indoor mapping, and others. Among them, the location based services are anticipated to hold onto a dominant position in the leaderboard for grossing maximum revenue. This segment is expected to showcase a CAGR of 6.2% in future. Locations and GPS are the most commonly used app-based activities undertaken while using a smartphone. People use it mainly while trying to reach a new place. This makes the mobile based mapping applications a key contributor to the market.