As per Market Research future (MRFR)’s latest analysis, the global digital map market is expected to scale new heights in the forthcoming years. Digital mapping technology is extensively used by the key players of the automotive industry for semi-autonomous and self-driven vehicles. Additionally, the rising demand for geospatial services is another major factor responsible for driving the growth of the market. The trend is estimated to perpetuate in the upcoming years.
Digital map offers a broad spectrum of services such as fleet management, traffic updates, intersecting lanes, landmarks, etc. which facilitates the hassle-free deliverance of logistics services. It is forecasted to augment the Digital Map Market over the next couple of years. Furthermore, digital maps also help the disaster management authorities in tracking and identifying natural calamities such as hurricanes, earthquakes, etc. This has exponentially catalyzed the demand for digital maps across the developed and developing country-level markets.
The increasing number of business enterprises that leverages location-based services is projected to pave the way for the rapid adoption of digital mapping technology in the foreseeable future. Meanwhile, the integration of digital maps into smartphones is likely to influence the growth of the market positively over the next few years. According to a survey, almost half of the world’s population uses smartphones. Thus, the widespread penetration of smartphones and internet services is likely to expedite the proliferation of the digital map market.
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The competitive landscape of the market resonates strong growth opportunities for the vendors. Endeavors are directed towards technological innovations for bringing user-friendly services which are prognosticated to accelerate the momentum of 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).
- GPS navigation
- Digital Orthophotography
- Aerial Photography
- Defense & Aerospace
- North America
- Asia Pacific
- Rest of the World
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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.
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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