Digital mapping has gone mainstream and has opened up a whole new range of possibilities in recent years. The global digital map market is on a positive growth trajectory and is projected to witness high growth in the future, asserts Market Research Future (MRFR) in a detailed research report. Digital maps provide the most accurate reflection of a location to the users by frequently updating data collected from the culmination of the satellite as well as street-level information. Also known as cartography, digital mapping has been gaining relevance in vehicle routing, tracking, territory planning, and other applications. Digital maps are used in an array of applications ranging from house-to-house delivery to management for real estate business.
The spiraling rise in the number of smartphones and high penetration rate of the internet across the globe has helped the global digital map market gain momentum. Consumer reliance on digital mapping applications such as Google Maps for locating places such as restaurants, ATMs, hospitals, and other places have increased significantly, boosting the growth of the global digital map market.
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The automotive industry has been a frontrunner in the integration of digital maps into its existing technology. Digital maps have gained prominence in navigation and self-driving car technology which facilitate real-time mapping. Other areas of automotive applications include Advanced Driver Assistance Systems (ADAS), fleet management, and logistics control system. Tracking of natural calamities, monitoring of other environmental emergencies and the calculation of the distance between places are among the desirable features of digital mapping which contribute to the growth of the digital map market.
Increase in the use of geospatial information in a plethora of applications such as emergency management, urban planning, business planning, logistics and other have also paved the way for market expansion.
Technological advancements in digital map technology in terms of components and mapping software are expected to propel the demand for digital maps. Furthermore, Growing application of digital maps across various industry verticals is expected to support the growth of the Digital Map Market. On the contrary, high investment in data collection is likely to restrain the growth of the market.
Digital Map Products (US), TomTom (Netherlands), OpenStreetMap (UK), AutoNavi (China), and Digital Mapping Solutions (Australia), MapMan (UK), ARC Aerial Imaging Limited (UK), MapmyIndia (India), Microsoft (US), Living Map (UK), NavInfo (China), Mapbox (US), INRIX (US), MiTAC International Corporation(Taiwan), MapQuest (US), MapSherpa (Canada), Google (US), DigitalGlobe (US), Apple (US), Automotive Navigation Data (Netherlands), Esri (US), Nearmap (Australia), HERE (Netherlands), and ARC Aerial Imaging Limited (UK).
Global Market for Digital Map – Segmental Analysis:
MRFR’s report offers a detailed segmental analysis of the market based on type, functionality, application, technology, and vertical. By type, the global digital map is segmented into services and solutions. By functionality, the market is segmented into Scientific, GPS navigation, and computerized. By application, the market has been segmented into outdoor and indoor. By technology, the market has been segmented into GIS, digital orthophotography, aerial photography, and others. By vertical, the market has been segmented into automotive, defense & aerospace, smartphones, and others.
The digital map market, by region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is a promising regional market for the digital map. The huge demand for digital maps across the end-user industry verticals such as automotive, logistics, defense, etc. for facilitating decision making has catalyzed the growth of the market. This trend is projected to continue in the upcoming years. The technological advancements and consolidation of key players in the region are likely to have a favorable influence on the expansion of the market in the region.
Europe is also an important growth pocket and is prognosticated to exhibit substantial growth in the upcoming years. Asia Pacific resonates strong opportunities for growth presently. The exponential increase in the purchase of vehicles coupled with large-scale penetration of mobile phones is expected to drive the proliferation of the market in the region. The Rest of the World is expected to witness an upsurge in the usage of the digital map over the next few years.
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This report on digital map delivers a thorough analysis of the factors shaping the global digital map market, with emphasis on consumer demand across key regions such as North America, Europe, Asia Pacific, and the Rest of the World. The report recognizes the latest developments, strategies embraced by key players and market shares of each player along with analyzing their core competencies. The global digital maps market has been studied by type, functionality, application, technology, and vertical. The report also elaborates on the significant factors (drivers, restraints, opportunities, trends) governing the growth of the market. Market attractiveness analysis of segments has also been included in the report.
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