The global mobile map market is expected to grow by USD 5.24 billion during 2020-2024, according to the latest market research report by Technavio.
The demand and preference for technologically advanced mobile devices with improved user-interface and high processing speed is increasing among end-users. Mobile device manufacturers are introducing mobile map applications by integrating location-based apps such as GPS. For instance, Apple built an in-house map system such as Apple Map for their customers.
Individuals rely on these applications to obtain real-time information such as traffic updates, directions to nearby locations, and weather forecasts. Thus, the increasing adoption of technologically advanced mobile devices will boost the growth of the mobile map market during the forecast period.
As per Technavio, the increasing adoption of mobile map in the industrial sector 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 influence market growth over 2020-2024.
Mobile Map Market: Increasing Adoption of Mobile Map in Industrial Sector
With the rising number of fresh players entering the market and expansion in businesses, the number of connected devices in industries is increasing. They are focusing on boosting revenues, delivering better services, and optimizing costs by removing location barriers using enhanced communication platforms.
This has encouraged the adoption of communication applications such as mobile map, which is developed using digital maps to streamline business processes such as supply chain, storage, employee satisfaction, processing, and procurement. Thus, with the increasing adoption of mobile map in industrial sector, the market for mobile maps is expected to showcase a positive outlook during the forecast period.
“The development of indigenous mapping systems and increasing use of mobile map solutions in big data analytics are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
