Mobile Mapping Market: Regional Trend & Growth Forecast To 2032

As per a recent research report, Mobile Mapping Market to surpass USD 100 Bn by 2032.

Mobile Mapping Market is set to witness robust growth between 2023 and 2032, primarily owing to the increasing demand for mobile mapping in telecommunication and transportation sectors, since expanding telecommunication infrastructure requires accurate land-based maps for the construction of cable networks. Besides, the rising usage of optic fibers to run smart cities will also fuel the market demand during the next decade.

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In addition, key providers operating in the mobile mapping market are also engaging in expanding their portfolios and entering meaningful mergers and acquisitions to strengthen their overall position. Citing an instance, in May 2022, Leica Geosystems launched Leica Pegasus TRK, a new mobile mapping system. As per reports, the new solution relies on AI for its mobile mapping functions and uses expandible imagery systems and laser scanning for measuring, recording, and visualizing environments.

Overall, the mobile mapping market has been segmented in terms of component, hardware, software, services, application, end-user, and region.

In terms of the component, the services segment is set to account for more than 15% market share by 2032. The segmental growth can be accredited to the ongoing development of technologies such as laser scanners, cameras, IMUs, and GPS/GNSS. Besides, increasing awareness about the utility and benefits of mobile mapping technology in the BFSI and retail sectors will also drive the market demand.

Based on the hardware, the market is likely to be defined through the imaging devices segment, which will witness significant growth during 2023-2032. Imaging devices are increasingly adapted in various mobile mapping applications including construction, defense, disaster management, and others.

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In the context of the application, the GIS data collection segment is anticipated to register more than 15% CAGR between 2023-2032. GIS data is widely collected for defense-related mapping works. This implies that increasing defense budget by countries across the world would potentially bolster the demand for the mobile mapping. For instance, in the USA, the military budget was valued at whopping USD 800.67 billion in 2021, depicting a 2.86% hike from 2020.

In the regional context, in Europe, the mobile mapping market will hold more than 25% market share by 2032 end. The regional market growth will be driven by the introduction of favorable government policies by countries such as Italy, Germany, and the UK, aimed toward promoting the usage of georeferencing. Besides, the rising popularity of smartphones and increasing demand for self-driving cars will also spur the product demand. As per reports, smartphone penetration rate in the United Kingdom stands at 79.3%, followed by France and Germany with 78.8% penetration, respectively.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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