diff --git a/tools/memap.py b/tools/memap.py
index abc3282a53..041d2aba3e 100644
--- a/tools/memap.py
+++ b/tools/memap.py
@@ -20,6 +20,7 @@ RE_ARMCC = re.compile(
 RE_IAR = re.compile(
     r'^\s+(.+)\s+(zero|const|ro code|inited|uninit)\s'
     r'+0x(\w{8})\s+0x(\w+)\s+(.+)\s.+$')
+RE_LIB_MATCH = re.compile("^.*/(.*\.a)\((.*)\)$")
 
 class MemapParser(object):
     """An object that represents parsed results, parses the memory map files,
@@ -37,13 +38,16 @@ class MemapParser(object):
 
     # sections to print info (generic for all toolchains)
     sections = ('.text', '.data', '.bss', '.heap', '.stack')
+    MAXDEPTH = object()
 
-    def __init__(self, detailed_misc=False):
+    def __init__(self, depth=2):
         """ General initialization
         """
-        # 
-        self.detailed_misc = detailed_misc
-        
+
+        self.depth = depth
+
+        self.mapfile = None
+
         # list of all modules and their sections
         self.modules = dict()
 
@@ -98,7 +102,7 @@ class MemapParser(object):
         else:
             return False         # everything else, means no change in section
 
-    
+
     def path_object_to_module_name(self, txt):
         """ Parse a path to object file to extract it's module and object data
 
@@ -107,32 +111,25 @@ class MemapParser(object):
         """
 
         txt = txt.replace('\\', '/')
-        rex_mbed_os_name = r'^.+mbed-os\/(.+)\/(.+\.o)$'
-        test_rex_mbed_os_name = re.match(rex_mbed_os_name, txt)
-
-        if test_rex_mbed_os_name:
-
-            object_name = test_rex_mbed_os_name.group(2)
-            data = test_rex_mbed_os_name.group(1).split('/')
-            ndata = len(data)
-
-            if ndata == 1:
-                module_name = data[0]
+        name = txt.split('/')
+        mapfile_beginning = os.path.dirname(self.mapfile).split('/')
+        if name[0] == "." or name[0] == "":
+            name = name[1:]
+        for thing in mapfile_beginning:
+            if name[0] == thing:
+                name = name[1:]
+            elif name[0] in mapfile_beginning:
+                pass
             else:
-                module_name = data[0] + '/' + data[1]
-
-            return [module_name, object_name]
-            
-        elif self.detailed_misc:           
-            rex_obj_name = r'^.+\/(.+\.o\)*)$'
-            test_rex_obj_name = re.match(rex_obj_name, txt)
-            if test_rex_obj_name:
-                object_name = test_rex_obj_name.group(1)
-                return ['Misc/' + object_name, ""]        
-                
-            return ['Misc', ""]
-        else: 
-            return ['Misc', ""]
+                break
+        if name[0] == "mbed-os":
+            name = name[1:]
+        if name[0] == "features":
+            name = name[1:]
+        is_lib = RE_LIB_MATCH.match(txt)
+        if is_lib:
+            name = ["libraries", is_lib.group(1), is_lib.group(2)]
+        return "/".join(name), name[-1]
 
     def parse_section_gcc(self, line):
         """ Parse data from a section of gcc map file
@@ -367,15 +364,7 @@ class MemapParser(object):
 
         path = path.replace('\\', '/')
 
-        # check location of map file
-        rex = r'^(.+)' + r'\/(.+\.map)$'
-        test_rex = re.match(rex, path)
-
-        if test_rex:
-            search_path = test_rex.group(1) + '/mbed-os/'
-        else:
-            print "Warning: this doesn't look like an mbed project"
-            return
+        search_path = os.path.dirname(path)
 
         for root, _, obj_files in os.walk(search_path):
             for obj_file in obj_files:
@@ -490,11 +479,19 @@ class MemapParser(object):
         for i in list(self.print_sections):
             table.align[i] = 'r'
 
+        local_modules = {}
         for i in sorted(self.modules):
+            module_name = "/".join(i.split("/")[:self.depth])
+            local_modules.setdefault(module_name,
+                                     {k: 0 for k in self.print_sections})
+            for k in self.print_sections:
+                local_modules[module_name][k] += self.modules[i][k]
+
+        for i in sorted(local_modules.keys()):
             row = [i]
 
             for k in self.print_sections:
-                row.append(self.modules[i][k])
+                row.append(local_modules[i][k])
 
             table.add_row(row)
 
@@ -575,6 +572,8 @@ class MemapParser(object):
         toolchain - the toolchain used to create the file
         """
 
+        self.mapfile = mapfile
+
         result = True
         try:
             with open(mapfile, 'r') as file_input:
@@ -589,9 +588,8 @@ class MemapParser(object):
                     self.parse_map_file_iar(file_input)
                 else:
                     result = False
-            
             self.compute_report()
-        
+
         except IOError as error:
             print "I/O error({0}): {1}".format(error.errno, error.strerror)
             result = False
@@ -631,6 +629,7 @@ def main():
     
     parser.add_argument('-d', '--detailed', action='store_true', help='Displays the elements in "Misc" in a detailed fashion', required=False)
 
+    parser.add_argument('--max-depth', dest='max_depth', type=int, help='Displays the elements in "Misc" in a detailed fashion', required=False, default=None)
     # Parse/run command
     if len(sys.argv) <= 1:
         parser.print_help()
@@ -640,7 +639,7 @@ def main():
     args = parser.parse_args()
 
     # Create memap object
-    memap = MemapParser(detailed_misc=args.detailed)
+    memap = MemapParser(depth=(args.max_depth or (MemapParser.MAXDEPTH if args.detailed else 2)))
 
     # Parse and decode a map file
     if args.file and args.toolchain: