LONDON--(BUSINESS WIRE)--The mobile map market is poised to grow by USD 4.57 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The number of mobile subscribers has increased rapidly across the globe, with end-users seeking to invest in technologically advanced mobile devices for both personal and professional use. The growing penetration of advanced mobile devices has increased the use of location-based services (LBS). Mobile device manufacturers are developing new devices that can integrate location-based applications - such as GPS-enabled smartphone applications. Also, individuals use these mobile devices to obtain real-time information such as weather forecasts, directions to nearby locations, and traffic updates. All these GPS-based applications are built on digital maps to provide location information to end-users. Therefore, the rising adoption of advanced mobile devices is expected to further accelerate the growth of the global mobile map market during the forecast period.
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As per Technavio, the development of indigenous mapping systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Mobile Map Market: Development of Indigenous Mapping Systems
The development of indigenous mapping systems is one of the major trends being witnessed in the global mobile map market. The trend is growing significantly in Brazil, Russia, India, and China. The development works regarding homegrown maps in China started before the 2000s. In India, this system is yet to gain traction although numerous initiatives are being undertaken in this field. One such initiative is the Bhuvan maps developed by the Indian Space Research Organization (ISRO), the space agency of the Indian government. It has mapping features for disaster-stricken areas, ocean services, and other climate and environment-related activities. Moreover, governments across the world are encouraging regional mobile map players to develop mobile map solutions that are country-specific.
“Factors such as the emergence of smart cities and the increasing use of mobile map solutions in big data analytics will have a positive impact on the growth of the mobile map market during the forecast period,” says a senior analyst at Technavio.
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Mobile Map Market: Segmentation Analysis
This market research report segments the mobile map market by application (outdoor mobile map and indoor mobile map), end-user (automotive navigation, mobile and internet, and public sector and enterprise), and geography (the Americas, APAC, and EMEA).
The Americas held the largest share of the market in 2018, followed by APAC and EMEA, respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as enhanced network connectivity and increased penetration of GPS-enabled mobile devices.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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