Mobile Mapping Market Expected to Exhibit a Strong 13.7% CAGR over the 2017-2022
Leading companies to name in a largely consolidated global mobile mapping market are Google Inc., Microsoft Corporation, Mitsubishi Electric Corporation, Telefonaktiebolaget LM Ericsson, Qualcomm Inc., Apple Inc., Tomtom NV, Garmin International, OSI Geospatial Inc., and Leica Geosystems Inc. According to a commerce and business intelligence study by Transparency Market Research (TMR), the global mobile mapping market is predicted to display a strong 13.7% CAGR over the forecast period between 2017 and 2022. At this pace, the market’s valuation of US$12.9 bn in 2017 will become US$24.4 bn by 2022 end. Based on solution, location based services segment is predicted to dominate through 2022, rising at a CAGR of 16.2% therein. In absolute value, the segment is predicted to be worth US$10.1 bn by the end of 2022. With mobile mapping applications increasingly becoming common in smart electronics, the location based services segment is poised to remain dominant contributor to th...