You may not realize it but you make one and possibly two assumptions with this statement, first that Apple isn't currently collecting equivalent street view data (Microsoft has done the same with their mapping product), and possibly two that the collection of the data for Apple would take as much time as it did for Google.
Sure there is the physical drive around stuff. But if you look at the C3 stuff (the company Apple bought that turns satellite images into 3D views) you can see where they might go with it. Also they do have a ton of cash and it would be seriously less than half a billion dollars to take a picture of the world. You might even get Toyota to make the 'steet view' edition version of the Prius in quantity.
The key thought for me here is that if this report is true, then Apple has decided mapping is strategic and taken it in house. And like Google (who did this in part so they could offer turn by turn directions [1]) they could exploit data they own for a wide variety of purposes.
[1] The original sources of Google's map information did not include a license to use it for turn by turn as that was exclusively given to another company by the vendor. Google had to acquire their own data without those restrictions in order to do navigation.
Beyond pushing Google further out of their device and perhaps creating a more accurate mapping system, what do you think are the "strategic" points for bringing cartography in house? It's not like Apple would be interested in unmanned vehicle nav, or something... right?
I myself can't think of any strategic reasons beyond competition with Google.
It isn't well known but all of these databases of aerial imagery, maps, street directions, speed limits, addresses are all sometimes licensable by third parties, sometimes not, and sometimes at extortionate rates.
How much of your mobile experience hinges on your use of location data? From turn by turn directions, general maps, businesses nearby, mass transit schedules, to friend locations and check-ins. Bottom line, Geographic information systems (GIS) data is a must-have feature for a smartphone.
Google has started raising the price on access to their data, this started a while ago and its been in fits and starts, but Apple can't just 'dump' all map info. Microsoft, same deal $$ for map datasets. So Apple is in the position of its two largest competitors having a way to suck arbitrary amounts of money out of them because they are suppliers of the 'must' have data on a smartphone.
New independent companies that can create GIS datasets can't compete with 'free' from Google and Microsoft for users, and even if they succeeded in creating a decent database and Apple used it, they would be subject to being purchased by Google or Microsoft. Finally there are patents (of course) around the use of map data and constructing maps etc from imagery, which a small company could not defend against but Apple can.
Therefore Apple has to own a GIS database that is at least as good as Google's version so that it can continue to provide a critical feature on their phone cost effectively.
Sure there is the physical drive around stuff. But if you look at the C3 stuff (the company Apple bought that turns satellite images into 3D views) you can see where they might go with it. Also they do have a ton of cash and it would be seriously less than half a billion dollars to take a picture of the world. You might even get Toyota to make the 'steet view' edition version of the Prius in quantity.
The key thought for me here is that if this report is true, then Apple has decided mapping is strategic and taken it in house. And like Google (who did this in part so they could offer turn by turn directions [1]) they could exploit data they own for a wide variety of purposes.
[1] The original sources of Google's map information did not include a license to use it for turn by turn as that was exclusively given to another company by the vendor. Google had to acquire their own data without those restrictions in order to do navigation.