Mobile mapping: Key market research findings:
- Increased use of crowdsourcing for map development
- Rising demand for paid HD maps
Technavio has released a new market research report on the global mobile mapping market, which is expected to grow at a CAGR of 14% between 2016 and 2020. Mobile mapping system provides highly accurate and rich datasets, which are used across industries such as transportation and logistics, retail, manufacturing, telecommunications, and public and real estate. . LBS, and location-based search provides a significant opportunity for mapping solution, service, and platform providers. The Americas dominate the global mobile mapping market, occupying around 40% of the overall market share. High adoption of mobile mapping solutions, services, and platforms in the transportation and logistics, retail, manufacturing, and media and entertainment sectors in the US and Canada is driving market growth in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the latest trends gaining traction in the mapping market is the use of crowdfunding initiatives for map development. Google and OpenStreetMap are such crowdsourcing map providers who update their maps frequently which causes users to choose free updated maps. Of late, several organizations are adopting crowdsourced free maps. OpenStreetMap is a free map development community, which powers the location features of a company’s applications,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research
In recent years, the adoption of LBS among users has increased significantly, which hjas prompted the application developers to innovate HD maps. The applications developed using maps are helping enterprises streamline their business processes such as procurement, processing, storage, and supply chain. These advanced digital maps have become necessary due to the growing need for real-time and user-friendly applications, accommodating the business needs of enterprises. Some organizations prefer buying maps from leading map developers, such as HERE and Google, rather than crowdsourcing them.
The leading vendors in the global mobile mapping market are Apple, Micello, HERE, TomTom, NavInfo and Google. Intense competition prevails in this market because of the entrance of a vast number of global and regional players. These vendors are able to produce high-quality maps specific to a country or region through the crowdsourcing map development model. Most map providers are moving from traditional maps to innovative, well-featured maps such as 3D maps, maps that offer a 360-degree view maps, venue maps, and street maps, among others.
A more detailed analysis is available in the Technavio report, Global Mobile Mapping Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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