Market Analysis
The global digital map market will develop at a healthy CAGR in the forecast period 2020- 2027, as per the recent Market Research Future (MRFR) analysis. Digital maps or digital mapping is the process where a collection of data is compiled and also formatted into a virtual image. Its primary function is to produce maps which give an accurate representation of a specific area, detailing key road arteries and other points of interest.
Various factors are fuelling the global digital map market share. As per the recent MRFR market estimates, such factors include technological advances in digital map technology with regards to mapping software and components, growing application of digital maps across different industrial verticals, growing adoption of novel technologies in map making and surveying, rising adoption of digital maps cross different industry verticals, rising internet penetration, increase in connected devices like tablets and smartphones, and interactive displays for adoption of map-based applications. The additional factors adding market growth include the ongoing migration from personal navigation devices to consumer-centric applications and smartphones, growing adoption of mobile computing devices for navigation, advanced technologies for surveying and digital map-making, use during COVID-19 pandemic, and wide adoption of 3D platforms.
On the contrary, high investments in data collection and regulatory & legal policies limiting the development of digital mapping technology may limit the global digital map market size over the forecast period.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global digital map market based on type, functionality, application, technology, and vertical.
By type, the global digital map market is segmented into solutions and services.
By functionality, the global digital map market is segmented into computerized, scientific, and GPS navigation.
By application, the global digital map market is segmented into indoor and outdoor. Of these, the outdoor segment will lead the market over the forecast period.
By technology, the global digital map market is segmented into digital orthophotography, aerial photography, GIS, and others. Of these, the GIS segment will dominate the market over the forecast period.
By vertical, the global digital map market is segmented into defense and aerospace, smartphones, automotive, and others. Of these, the automotive segment will spearhead the market over the forecast period.
Regional Analysis
By region, the global map market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America & Rest of the World (RoW). Of these, North America will head the market over the forecast period. The growing demand for digital maps across different verticals like security, logistics, and automotive to facilitate decision taking, technological developments, and the consolidation of key players are adding to the global digital map market over the forecast period.
The global digital map market in Europe is predicted to have the second-largest share over the forecast period.
The global digital map market in the APAC region is predicted to have healthy growth over the forecast period. Exponential rise in vehicle buying with large-scale cell phone penetration, growing demand for geospatial data, GIS systems, and other related services, surging need for digital maps by regional governments for agricultural and rural development, urban and transportation infrastructure development, and smart cities projects, and the developing infrastructure in India and China opening new business avenues for vendors are adding to the global digital map market share in the region.
The global digital map marker in RoW is predicted to have sound growth over the forecast period for the increasing use of digital maps.
Key Players
The notable players profiled in the global digital map market report include ARC Aerial Imaging Limited (UK), HERE (Netherlands), Nearmap (Australia), Esri (US), Automotive Navigation Data (Netherlands), Apple (US), DigitalGlobe (US), Google (US), MapSherpa (Canada), MapQuest (US), MiTAC International Corporation(Taiwan), INRIX (US), Mapbox (US), NavInfo (China), Living Map (UK), Microsoft (US), MapmyIndia (India), ARC Aerial Imaging Limited (UK), MapMan (UK), Digital Mapping Solutions (Australia), AutoNavi (China), OpenStreetMap (UK), TomTom (Netherlands), and Digital Map Products (US), and others.
Industry Updates
March 2021- 18 Mumbai suburban railway stations have recently received digital maps.
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
Continued…
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