PUNE, India -- According to the Global Mobile Mapping Market 2016 - 2020 report, the demand for maps across industries has increased significantly and applications developed using maps are helping enterprises streamline their business processes such as procurement, processing, storage, and supply chain. Individual users are using digital maps on their wearable devices.
Also, healthcare service providers such as hospitals, clinics, and community centers are using digital maps to track and monitor ambulances, medical equipment, in-patients, doctors, and employees, making them more efficient healthcare service providers.
The analysts forecast global mobile mapping market to grow at a CAGR of 14.05% during the period 2016-2020. Due to the high cost of equipment and paucity of skilled labor, many leading map providers are not able to update their maps frequently. However, crowdsourcing map providers, such as Google and OpenStreetMap, are able to do so, which causes users to choose free updated maps. Many enterprises are adopting crowdsourced free maps as well.
The outdoor mobile mapping segment will be the highest revenue generating segment during the forecast period and will surpass USD 4 billion by 2020. Factors such as the augmented utilization of mobile mapping in the automotive industry high adoption of mobile devices worldwide and enhanced network connectivity will lead to the strong growth of this market segment during the predicted period.
In 2015, the Americas dominated this market and accounted for a market share of more than 40%. Eminent factors like the high adoption of mobile mapping solutions, services, and platforms across sectors like transportation and logistics, retail, manufacturing, and media and entertainment in the US and Canada will result in the strong growth of this market in the Americas.
The level of competition in the global mobile mapping market is rapidly increasing due to the entrance of a vast number of global and regional players. These vendors can produce high-quality maps that are specific to a country or region with the help of the crowdsourcing map development model.
The following companies are the key players in the Global Mobile Mapping Market: Apple, Google, HERE, Micello, NavInfo, and TomTom. Other prominent vendors analyzed in this market research are ArcGIS Online (Esri), Baidu Maps, Bhuvan, Bing Maps (Microsoft), Ericsson, Foursquare, GeoMapServer, Inrix, MapmyIndia, Mappy, MapQuest (AOL), OpenStreetMap, Qualcomm Atheros, Roadtrippers, Trimble Navigation, ViaMichelin, WikiMapia, WoNoBo (Genesys International), Yahoo! Maps, and Zenrin.
Further, the report states that the stringent government regulations and privacy norms are posing a challenge to the market growth.
Complete report on mobile mapping market spread across 52 pages, analyzing 6 major companies and providing 17 data exhibits is now available at http://www.sandlerresearch.org/global-mobile-mapping-market-2016-2020.html
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