Global Mobile Map Market 2019-2023 | Increasing Adoption of Technologically Advanced Mobile Devices to Boost Demand | Technavio

LONDON–(BUSINESS WIRE)–#ConnectedDevicesTechnavio
analysts forecast the global mobile map market to grow at a CAGR of over
17% during the forecast period, according to their latest market
research report.


Development of indigenous mapping systems is one of the major trends
being witnessed in the global
mobile map market 2019-2023
.
The development of indigenous
mapping systems is a significant trend among Brazil, Russia, India, and
China (BRIC) nations, especially China and India. The development works
regarding homegrown maps in China started before the 2000s. In India,
this system is yet to gain traction although there are many efforts and
initiatives being taken in this field. Moreover, digital technology has
entered every aspect of the mapping process, such as map compilation and
design, raw data collection, and final map production. The advanced
mapping technology has also replaced conventional stereo plotters with
digital imaging systems. This has resulted in the development of
accurate 3D digital maps. Governments are also encouraging regional
mobile map players to develop mobile map solutions that are country
specific.

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According to Technavio analysts, one of the key factors contributing to
the growth of the global mobile map market is the increasing adoption of
technologically advanced mobile devices:

Global mobile map market: Increasing adoption
of technologically advanced mobile devices

The number of mobile subscribers has increased rapidly across the globe,
and end-users prefer technologically advanced mobile devices for both
personal and professional use. Factors such as improved user-interface
and the use of mobile devices, such as smartphones and tablets, with
high processing speed, have increased the adoption of mobile maps across
the globe. As a result, enterprises are prompted to provide their
employees with handheld devices for business purposes. To support this,
mobile device manufacturers are developing new devices that can
integrate location-based applications (such as GPS-enabled smartphone
applications). At present, individuals use 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.
Moreover, the number of connected devices across the world is expected
to reach a figure of about 50 billion by 2019. With an exponential
increase in the number of devices, monitoring, managing, and maintaining
them has become very difficult. Therefore, the rising adoption of mobile
devices is expected to further accelerate the growth of the global
mobile map market during the forecast period.

According to a senior analyst at Technavio for research on machine to
machine (m2m) and connected devices, “Use of mobile maps by
automobile manufacturers is another factor that is expected to boost the
growth of the overall market. Most automobile manufacturers have been
incorporating location-enabled driver assistance devices in high-end
vehicles. However, brands such as Audi, BMW, Fiat, Mazda, and Renault
are collaborating with map providers mobile-map providers to incorporate
factory fitted location-enabled driver assistance systems in all their
vehicles. Thus, the market is expected to witness a positive outlook
during the forecast period.”

Global mobile map market: Segmentation analysis

The global mobile map market research report provides market
segmentation by application (outdoor mobile map and indoor mobile map),
and by region (the Americas, EMEA, and APAC). It provides an in-depth
analysis of the prominent factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

The Americas held the largest share of the market in 2018, accounting
for close to 39% share, followed by the APAC and EMEA respectively.
However, during the forecast period, the APAC region is expected to
register the highest incremental growth.

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  • Market segmentation analysis

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Market Segmentation

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  • Regional comparison
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Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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