ICT-IOT

Mobile Mapping Market is Expected to Reach USD 103.15 Billion by 2031

May 2024

ICT-IOT

As per the report published by Kings Research, the global Mobile Mapping Market was valued at USD 26.11 billion in 2023 and is projected to reach USD 103.15 billion by 2031, growing at a CAGR of 19.03% from 2024 to 2031.

The global mobile mapping market is poised to experience significant expansion over 2024-2031 driven by increasing penetration of smart devices, rising demand for efficient navigation, and technological advancements. The seamless integration of satellite navigation and high-resolution imaging technologies with smartphones and Internet of Things (IoT) devices is fostering widespread adoption of mobile mapping. This, coupled with the burgeoning growth of smart cities, necessitates the creation and maintenance of 3D maps, a domain where mobile mapping applications are widely utilized.

Furthermore, advancements in sensor technology, particularly LiDAR, and sophisticated data processing algorithms are continually enhancing the accuracy and efficiency of mobile mapping solutions. This is leading to increased usability across diverse industries, including transportation and logistics, construction, and environmental monitoring, which is aiding industry expansion.  Players that capitalize on the integration of artificial intelligence and machine learning into their offerings, thereby enabling real-time data analysis and actionable insights, are poised to capture a significant share of this burgeoning market.

Moreover, the growing emphasis on infrastructure development, particularly in emerging economies, is creating a strong demand for accurate and up-to-date geospatial data. Mobile mapping offers a cost-effective and rapid solution for acquiring such data, making it attractive for government agencies and construction companies. Additionally, the increasing focus on environmental sustainability is driving the adoption of mobile mapping for tasks such as precision agriculture, deforestation monitoring, and natural disaster response.  The ability of mobile mapping to capture high-resolution data over large areas plays a vital role in geographic information systems (GIS) applications, urban planning, environmental monitoring, disaster response, infrastructure development, and various other fields requiring detailed spatial data analysis. Furthermore, the growing adoption of cloud-based data storage and management solutions is streamlining workflows and facilitating collaboration within the mobile mapping ecosystem.

Key Insights

  • Based on application, the topography mapping segment held the largest market share of 30.25% in 2023
  • Based on industry vertical, the construction & real estate segment generated the highest revenue of USD 10.35 billion in 2023
  • Based on technology, the internal combustion engines (ICE) segment is anticipated to generate a value of USD 43.55 billion by 2031
  • On the basis of region, Asia-Pacific is likely to experience the highest CAGR of 20.36% over 2024-2031

Woolpert Makes Strategic Investment in Leica Pegasus TRK700 Neo

February 2024: Woolpert announced an investment in Leica Geosystem's cutting-edge technology, the Leica Pegasus TRK700 Neo. This advanced dual scanner is capable of capturing an impressive one million measurements per second, significantly enhancing Woolpert's geospatial data collection capabilities. The primary purpose of this state-of-the-art mobile mapping system is to conduct comprehensive surveys of aviation and transportation infrastructure. The collected data play a crucial role in supporting asset management, inventories, statewide GIS solicitations, and meeting various requirements of state departments of transportation.

Integration of Advanced Mapping Technologies to Foster Market Growth

The convergence of advanced technologies is a key driver propelling the expansion of the mobile mapping market. Integration of high-resolution satellite navigation (GNSS) with sophisticated sensor technology, particularly LiDAR, is enabling the creation of highly accurate and detailed 3D maps. Furthermore, advancements in data processing algorithms are facilitating faster and more efficient analysis of the vast amount of geospatial data collected by mobile mapping systems. Market players that are actively investing in R&D to capitalize on these technological advancements are likely to be well-positioned to offer superior solutions that cater to the evolving needs of diverse industries. This involves developing mobile mapping systems equipped with cutting-edge sensors and AI-powered processing capabilities to deliver real-time insights and improve data accuracy.

Capitalizing on Smart City Programs to Offer Potential Opportunities for Mobile Mapping Market Growth

The burgeoning growth of smart cities presents a significant opportunity for the development of the mobile mapping market. Smart city infrastructure heavily relies on 3D maps for various tasks such as traffic management, urban planning, and resource allocation. Mobile mapping offers a cost-effective and rapid solution for creating and maintaining these critical 3D models. Additionally, the growing demand for real-time data integration is likely to aid market growth. Furthermore, smart city development requires a focus on infrastructure asset management. Mobile mapping systems are equipped with functionalities to automatically detect and record the condition of critical infrastructure components such as streetlights, traffic signs, and utility poles.

Asia-Pacific to Generate Revenue of USD 28.99 Billion by 2031

Based on region, the global mobile mapping market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Asia-Pacific is projected to experience the highest CAGR of 20.36% over 2024-2031. Rapid urbanization and the development of smart cities across countries in the region are driving the demand for mobile mapping solutions.  For instance, China is implementing the ‘One Belt, One Road’ project, which involves the creation of a vast network of infrastructure projects connecting China to other parts of Asia, Europe, and Africa.  Mobile mapping plays a crucial role in planning, monitoring, and maintaining these large-scale infrastructure projects. Furthermore, several countries in the region are experiencing significant growth in the transportation and logistics sectors. This necessitates the adoption of efficient route optimization and fleet management solutions. Mobile mapping offers valuable tools for these industries by providing high-resolution maps with detailed road network information and real-time traffic data integration. Moreover, the growing awareness of environmental issues in Asia-Pacific is fostering the adoption of mobile mapping for environmental monitoring and disaster response. Mobile mapping systems equipped with high-resolution sensors such as LiDAR are used to map deforestation patterns, monitor natural disasters such as landslides, and assess the aftermath of floods and earthquakes. This data is critical for environmental agencies and disaster response teams to make informed decisions and take timely action.

Prominent Companies Forge Agreements to Enhance Industry Presence

The global mobile mapping market is fragmented with key players such as Google LLC, Apple Inc., Topcon, HERE, Bentley Systems Inc., ESRI, Nearmap, Hexagon AB, Trimble Inc., NavVis, and others. Companies are employing a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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