Mobile Mapping Market Estimated to Grasp the CAGR of 18.2% by 2031, Industry Size, Trends, Growth and Outlook

The growing use of satellite mapping technology and its integration with smartphones and IoT devices is fueling mobile mapping market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, August 27, 2024 /EINPresswire.com/ -- According to a report by Allied Market Research, the global mobile mapping market generated revenue of $24.2 billion in 2021 and is projected to reach $127.3 billion by 2031, with a compound annual growth rate (CAGR) of 18.2% from 2022 to 2031. The market study provides a comprehensive analysis of evolving industry trends, key market segments, value chain dynamics, major investment opportunities, and the competitive landscape across regions. It serves as a critical resource for industry leaders, entrepreneurs, shareholders, and business owners looking to develop future strategies and improve their market positions. The report presents a detailed quantitative analysis covering the period from 2022 to 2031, offering investors guidance on where to allocate resources in this rapidly growing market.

Impact of COVID-19 on the Mobile Mapping Market:
The COVID-19 pandemic had a positive effect on the mobile mapping market, as mobile mapping software became an essential tool for tracking travel histories and identifying areas affected by the virus. Governments worldwide employed mobile mapping technology to link demographic data with disease transmission patterns in specific regions, further driving market growth during the pandemic.

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Market Segmentation and Insights:

The report includes an in-depth segmentation of the global mobile mapping market based on offerings, deployment models, applications, industry verticals, and regions. The detailed tables and figures enable businesses and investors to better understand market trends and identify growth opportunities within various sub-segments. This analysis helps organizations and investors pinpoint specific areas for expansion and revenue growth over the next decade.

Offering: The "solution" segment dominated the market in 2021, representing around two-thirds of the total mobile mapping market share. This segment is expected to maintain its leading position throughout the forecast period. Meanwhile, the "service" segment is forecast to exhibit the highest CAGR of 19.1% from 2022 to 2031.

Deployment Model: The "on-premise" segment held the largest share in 2021, contributing nearly 60% of the overall market. This segment is also expected to continue leading the market by 2031. However, the "cloud" segment is anticipated to grow at the fastest pace, with a projected CAGR of 19.2% during the forecast period.

Enterprise Size: In terms of enterprise size, the "large enterprises" segment accounted for over two-thirds of the global market in 2021. This segment is projected to retain the largest market share by 2031. However, the "SMEs" segment is expected to grow at the highest rate, with a CAGR of 19.3% during the forecast period.

Application: The "topographic mapping" segment led the market in 2021, accounting for more than one-third of the global market share. This segment is expected to continue its dominance through 2031. However, the "asset management" segment is predicted to grow at the fastest rate, registering a CAGR of 20.0% during the forecast period.

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Regional Analysis
In 2021, North America contributed the largest share of the global mobile mapping market, accounting for approximately 40% of the total market. The region is expected to maintain its leading position through 2031. However, the Asia-Pacific region is anticipated to witness the highest growth rate, with a projected CAGR of 20.2% during the forecast period. The report also analyzes other regions, including Europe and LAMEA (Latin America, Middle East, and Africa).

Key Market Players
The research examines key players in the global mobile mapping market, including:

Hexagon AB
Microsoft Corporation
EveryScape Inc.
Qualcomm Inc.
Teledyne Optech LLC
Trimble Inc.
Mitsubishi Electric Corporation
Javad GNSS Inc.
Google LLC
Black & Veatch
Apple Inc.
Foursquare Labs
Pasco Corporation
GeoSLAM
Leica Geosystems
Novatel Inc.
MapJack

These companies have adopted various business strategies, including regional expansion, product launches, strategic partnerships, and joint ventures, to broaden their customer base and enhance product lines. The report assesses the performance of each segment and product category, as well as the impact of new technologies and innovations on the market’s growth trajectory.

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David Correa
Allied Market Research
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