Mobile Mapping Market size to cross $100 Bn by 2032

Mobile Mapping Market size is estimated to exceed USD 100 billion by 2032, according to a new research report by Global Market Insights Inc.
 

The report identifies improved network connectivity as the chief driver of the market trends. High-speed networks and the rising use of cloud-based services in businesses have improved transmit data effectively between various platforms and decision-making. Moreover, the strong inclination of major international telecommunications corporations to spend on 5G telecom network infrastructure, is foreseen to support the utility of mobile maps over the anticipated timeline. To cite an instance, in May 2021, telecom behemoth Vodafone invested nearly USD 8.6 billion in AI digitalization and 5G network grid. Widespread integration of 3D technology to increase hardware segment share
 

With respect to component, the mobile mapping market from hardware segment accounted for USD 10 billion in 2022. Businesses that specialize in hardware elements, including LiDAR scanners, 360-degree camera systems, and IMUs, are engaging in strategies to achieve a competitive edge in the developing mobile mapping space. In July 2022, construction expert Trimble launched its X12 scanning system with 3D laser scanning and imaging hardware technology.
 

Surging uptake of scanning tools to bolster laser ranging & scanning devices demand

Under hardware, the laser ranging & scanning device segment held over 30% mobile mapping market share in 2022. Land surveyors involved in ground-based or terrestrial laser scanning significantly utilize a variety of 3D laser scanners, including both panoramic and camera-type laser scanners. To cite an instance, in June 2022, Metronor, an industrial equipment supplier, introduced the M-Scan 120 scanner. This handheld 3D scanner from the next generation offers superior convenience and scanning performance. The novel scanner combines Nikon Metrology’s renowned technology that can scan black and white surfaces simultaneously.
 

Growing inclination of banking firms toward analytical tools to push BFSI segment growth

The mobile mapping market from BFSI segment is poised to reach USD 4 billion by 2032. Banking organizations are actively installing mapping solutions to understand links and patterns and make decisions by utilizing cutting-edge maps and spatial analytics tools for tasks such as maintaining ATM networks, assessing secure money transaction paths, and mapping customer records. In a recent instance, in November 2022, UBS, an investment banking firm, selected Regula’s Identity Verification Solutions to automate the account opening process and record new customers.
 

Browse key industry insights spread across 230 pages with 393 market data tables and 47 figures & charts from the report, “Mobile Mapping Market Size By Component (Hardware [Imaging Device, Laser Ranging & Scanning Device, Positioning Device], Software [Mapping Data Extraction, Data Processing], Service [Consulting, Integration & Maintenance, Managed]), By Application (Road & Railway Survey, GIS Data Collection, Vehicle Control & Guidance, Asset Management), By End-Use (Agriculture, BFSI, Government & Public Sector, Real Estate & Infrastructure, Retail, Telecommunication, Mining, Transportation & Logistics), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/mobile-mapping-market
 

Widespread usage in automobiles to augment vehicle control & guidance segment growth

The vehicle control & guidance segment is predicted to expand at over 20% CAGR from 2023 to 2032, driven by the wide applicability of mobile mapping in several platforms, including trains, vehicles, and trucks, as well as the ability to dynamically map the immediate surroundings and employ 3D spatial data for vehicle control and guidance. To cite an instance, in April 2021, Velodyne Lidar, Inc., a LiDAR tech company, partnered with AGM Systems, an airborne laser detection solution provider, to develop the AGM-MS3 Unmanned Aerial Vehicle Mapping Solution that helps in controlling aircraft landing and navigation requirement.
 

Soaring focus on transportation system advancement to aid Asia Pacific industry growth

The Asia Pacific mobile mapping market is projected to witness over 20% CAGR between 2023 and 2032, attributed to the adoption of cross-platform and global map data technologies for the development of intelligent transportation systems and construction infrastructure. For instance, in April 2022, the Ministry of Electronics and Information Technology of India announced the adoption of the Onboard Driver Assistance and Warning System, along with Common Smart IoT Connectiv (CoSMiC) software integrated with GIS map technology to help traffic scenarios in the country.
 

 Mounting adoption of autonomous technologies to benefit the competitive scenario

Major players involved in the mobile mapping market include Google LLC, Apple Inc., Microsoft Corporation, Alibaba Group, Baidu Inc.
 

The strategic landscape of the market is primed to showcase a series of product developments and collaborations with public and private automotive firms. To cite an instance, in May 2022, Leica Geosystems, a Swiss surveying firm, launched Leica Pegasus TRK in its mobile mapping system. This enabled the company’s FIELD software for autonomous and secure data collection and route planning in the area. Moreover, the product fulfills the privacy regulations and AI and machine learning algorithms, which can identify and blur objects, such as people and vehicles, in real-time without using any other software.