Mobile Mapping Market projected to grow $26.60 Billion by 2020

(IT-NEWSWIRE.COM, January 29, 2020 ) According to a new market research report "Mobile Mapping Market by Segment (Location-Based Services, Location-Based Search, Indoor Mapping, 3D Mapping, Licensing Subscription and Support), by User Type (Individual, Enterprise), by Industry Vertical and by Region - Global Forecast to 2020" published by MarketsandMarkets™, the Mobile Mapping Market size estimated to grow from USD 10.28 Billion in 2015 to USD 26.60 Billion by 2020, at a CAGR of 20.9% from 2015 to 2020.

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Mobile mapping solutions and services are being increasingly used by individual and enterprise user types to access real-time, location-based information that is helps in making informed decisions. With the expansive penetration of mobile devices among users, the Mobile Mapping Market is expected to gain traction in the next five years, owing to the rising access of Location-Based Services (LBS) through these devices.

Expansive penetration of mobile devices to drive the Mobile Mapping Market

The major forces driving the Mobile Mapping Market include the widespread penetration of robust computing mobile devices among users, the growing government regulations and standards for emergency responses, and improved internet connectivity. Enterprises are looking for mobile mapping solutions and services that can provide them real-time and dependable location-based information. Furthermore, advancements in government regulations pertaining to emergency management, such as the 911 mandates in the U.S., are boosting the growth of the Mobile Mapping Market.

Indoor mapping to play a key role in the Mobile Mapping Market

The LBS segment of mobile mapping is expected to hold the largest market share owing to the widespread penetration of mobile devices installed with mapping apps and GPS for accessing LBS, whereas the indoor mapping segment is expected to play a key role in changing the mobile mapping landscape during the forecast period.

Transportation and logistics industry vertical expected to hold the largest market share

The transportation and logistics industry vertical is expected to hold the largest market share in the Mobile Mapping Market, as it uses these solutions for enhancing customer experience through real-time information of vehicles. Industry verticals such as media and entertainment, manufacturing, and retail are expected to be the key growing sectors during the forecast period.

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North America expected to dominate the Mobile Mapping Market

The report also covers the total Mobile Mapping Market by region. North America is expected to hold the largest market share and APAC is expected to grow at the highest CAGR from 2015 to 2020 due to the large scale penetration of mobile devices equipped with GPS and improved network connectivity.

The major vendors in the Mobile Mapping Market include Google, Microsoft, TomTom, Trimble NV, Apple, Foursquare, Telecommunication Systems, Inc., and others. The scope of the report covers detailed information regarding the major factors influencing the growth of the Mobile Mapping Market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers & acquisitions, partnerships, and recent developments associated with the Mobile Mapping Market.

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Mobile Mapping Market projected to grow $26.60 Billion by 2020