The mobile mapping systems market might register a CAGR of 21.77% over the forecast period. The rapid acceptance of satellite mapping technology and its seamless integration into smartphones and Internet of Things (IoT)-connected devices are driving the market’s growth.
Smart cities rapidly expanded due to increased urbanization and supported government initiatives worldwide. A smart city can only exist with a 3D map. With the support of 3D city modeling, autonomous navigation, traffic, disaster management, digitizing roadway property, and pollution reduction, mobile mapping technology for smart cities aims to improve quality of life by optimizing resources and maintaining sustainability. Smartphone and internet usage played critical roles in data management and access.
Further, mobile navigation geographic information system (GIS) for environmental monitoring is increasingly used in monitoring the environment. Environmental researchers are employing mobile mapping GIS tools to help with storm and hurricane forecasting and monitoring. The NASA-funded research project on ecological monitoring and natural resource management drives revenue growth in the mobile mapping sector.
Mobile mapping systems are used for various applications, including developing indoor maps for pedestrian navigation, high-definition (HD) maps for autonomous vehicles, asset and infrastructure management, ariel surveys, pipeline surveys, hydrographic surveys, dredging, and offshore positioning/drilling operations.
The emergence of on-demand deployment systems is an inflection point in the mobile mapping market, as high levels of flexibility and accuracy at low initial costs are offered (users are charged on a monthly/quarterly basis). Companies offer subscription-based models to counter the need for perpetual user licenses.
The COVID-19 pandemic resulted in a rapid restructuring of the IT industry, with firms shifting to remote labor. During the pandemic, the mobile mapping market grew considerably. Several businesses and agencies used mobile mapping data for visualization and geospatial analytics to restrict the spread of the disease. Dashboards were used to display geospatial data. Some of these dashboards and applications received data changes in near-real time.
The growing presence of big players in the mobile mapping industry is expected to intensify competitive rivalry during the forecast period. Incumbents, such as Google Inc., Leica Geosystems AG, and Topcon Corporation, considerably influence the overall market. Large companies are expending significant resources on R&D operations to protect their position and drive innovation in the market. High barriers to exit, growing levels of firm concentration, and market penetration are some of the significant characteristics influencing the competition in the market. Overall, the intensity of competitive rivalry remains moderately high, mainly driven by the strong presence of players involved in the market studied.
In September 2022, Drivewyze, the connected truck services provider and operator of North America's largest public-private weigh station bypass network, announced real-time, in-cab traffic alerts in collaboration with INRIX, a transportation analytics and connected vehicle services provider, and the Pennsylvania Turnpike Commission. Pennsylvania joins Ohio, New Jersey, and North Carolina in providing in-state alerts that offer audio and visual indicators of upcoming traffic delays, congestion, and incidents.
In May 2022, Leica Geosystems, part of Hexagon, announced the introduction of the reality capture mobile mapping system Leica Pegasus TRK, introducing artificial intelligence, autonomous workflows, and long-range mobile mapping for applications in asset management, road construction, critical infrastructure, oil, gas, and electricity industries. The system is ideal for creating high-definition base maps for autonomous vehicles.
1 INTRODUCTION 1.1 Study Assumptions and Market Definition 1.2 Scope of the Study 2 RESEARCH METHODOLOGY 3 EXECUTIVE SUMMARY 4 MARKET INSIGHTS 4.1 Market Overview 4.2 Industry Attractiveness - Porter's Five Forces Analysis 4.2.1 Bargaining Power of Suppliers 4.2.2 Bargaining Power of Consumers 4.2.3 Threat of New Entrants 4.2.4 Threat of Substitutes 4.2.5 Intensity of Competitive Rivalry 4.3 Assessment of the Impact of COVID-19 on the Industry 4.4 Industry Value Chain Analysis 5 MARKET DYNAMICS 5.1 Market Drivers 5.1.1 Integration with All Kinds of Vehicles 5.2 Market Restraints 5.2.1 High Cost of System Acquisition and Deployment 6 MARKET SEGMENTATION 6.1 By Application 6.1.1 Imaging Services 6.1.2 Aerial Mobile Mapping 6.1.3 Emergency Response Planning 6.1.4 Internet Applications 6.1.5 Facility Management 6.1.6 Satellite 6.2 By End-user Verticals 6.2.1 Government 6.2.2 Oil and Gas 6.2.3 Mining 6.2.4 Military 6.2.5 Other End-user Verticals 6.3 By Geography 6.3.1 North America 6.3.2 Europe 6.3.3 Asia Pacific 6.3.4 Latin America 6.3.5 Middle East and Africa 7 COMPETITIVE LANDSCAPE 7.1 Company Profiles 7.1.1 Google LLC (Alphabet Inc.) 7.1.2 Leica Geosystems AG (Hexagon Geosystems) 7.1.3 Trimble Inc. 7.1.4 Topcon Corporation 7.1.5 NovAtel Inc. 7.1.6 Javad GNSS Inc. 7.1.7 Teledyne Optech 7.1.8 Mitsubishi Corporation 7.1.9 Imajing SAS 7.1.10 TomTom International BV 7.1.11 Cyclomedia Technology BV 7.1.12 INRIX Inc. 8 INVESTMENT ANALYSIS 9 FUTURE OPPORTUNITIES
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