Global Digital Map Market Overview
The global digital map market is slated to register a significant market valuation at a striking CAGR over the review period.
Drivers and Restraints
The global market for digital maps is growing driven substantially by several factors such as the increasing adoption of smartphones, and the higher penetration of internet users globally.
The automotive industry has risen the demand for digital maps significantly, for navigation. The increasing adoption of self-driving and automated technology in the automotive sector is also increasingly contributing to market growth. Tracking of natural calamities, the calculation of the distance between places and monitoring of other environmental emergencies, are among the required features of digital mapping, which contribute to the growth of the Digital Map Market over the foreseeable future.
An upsurge in the use of geospatial information in a plethora of applications such as emergency management, urban planning, business planning, logistics and others have also paved the way for market expansion in the comping years.
Technological advancements taking place in digital mapping technology in terms of components and mapping software are estimated to propel the demand for digital maps. Furthermore, the growing application of digital maps across various industry verticals is touted to support the growth of the digital map market. On the contrary, higher investments in data collection is likely to restrain the growth of the market.
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Consumer reliance on digital mapping applications for locating places such as ATMs, restaurants, hospitals, and other places have increased significantly, is also likely to boost the growth of the global digital map market.
Market Segmentation
The global Digital Map Industry is segmented on the basis of type, application, functionality, technology, and vertical. Based on type, the digital map market is segmented into services and solutions. Based on functionality, the digital map market is segmented into scientific, GPS navigation, and computerized. By application, the Digital Map Industry is segmented into indoor and outdoor. By technology, the Digital Map Industry market has been segmented into GIS, digital orthophotography, and aerial photography. Based on vertical, the Digital Map Industry is segmented into automotive, defense & aerospace, and smartphone.
Key Players:
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).
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Detailed Regional Analysis
The global digital map market is likely to face rapid augmentation, as per the report published by Market Research Future (MRFR). Based on geography, the digital map market is segmented into North America, Asia Pacific (APAC), Europe, and Rest of the World (RoW). North America is anticipated to garner a significant market share for digital maps during the forecast period ending by 2023. Such growth can be accredited to a proliferated demand for digital maps across numerous end-user industries such as logistics, automotive, and defense. Further, technological advancements and the presence of many noteworthy players in the digital map market in the region are expected to promote substantial market growth during the assessment period.
Europe is anticipated to witness substantial growth in the foreseeable future. Asia Pacific is likely to exhibit immense growth opportunities due to a burgeoning automotive market in the region and rapid penetration of smartphones in the region. Rest of the World (RoW) is projected to witness a surge in the usage of digital mapping technologies in the upcoming years.
Industry Update
April 2020: Wiivv has started using digital mapping technology for their new project named ‘paaww custom pet insoles.’ Under this project, Wiivv is manufacturing insoles for dogs by digitally mapping 200 points on each of the dog’s four paws using a mobile application and then using that data to design an insole to fit the dog perfectly.
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Global Digital Map Market Research Report: By Type (Services, Solutions), By Functionality (Scientific, GPS Navigation, Computerized), By Application (Indoor, Outdoor), By Technology (GIS, Digital Orthophotography, Aerial Photography, Others) and By Vertical (Automotive, Defense & Aerospace, Smartphones, Others) – Forecast to 2027Market OverviewIn its research report, Market Research Future (MRFR), emphasizes that the Map Market 2020 is expected to grow signficantly, securing a substantial market valuation and a healthy CAGR over the review period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/6600Drivers and RestraintsThe strengthening rise in the number of smartphones and high internet penetration rate across the globe has helped the gain traction in the global digital map industry.
Customer dependency on digital mapping applications such as Google Maps has increased dramatically to locate places such as restaurants, ATMs, hospitals, and other locations, fueling the growth of the global digital map industry.Increasing the use of geospatial information in a plethora of applications such as emergency management, urban planning, business planning, logistics, and others has also paved the way for the expansion of markets.
Tracking natural disasters, tracking other environmental hazards, and measuring the distance between locations are among the attractive features of digital mapping that contribute to the growth of the market for digital maps.
Increasing the use of geospatial information in a plethora of applications such as emergency management, urban planning, business planning, logistics and others has also paved the way for expansion of markets.
Tracking natural disasters, tracking other environmental hazards and measuring the distance between locations are among the attractive features of digital mapping that contribute to the growth of the market for digital maps.Segmental AnalysisBy type, the global digital map is bifurcated into services and solutions.By functionality, the market is segmented into GPS navigation, Scientific, and computerized.By application, the market has been bifurcated into an outdoor and indoor.By technology, the market has been segmented into GIS, aerial photography, digital orthophotography, and others.By vertical, the digital map market has been segmented into automotive, smartphones, defense & aerospace, and others.
The automotive industry has been a leader in the incorporation of digital maps into its existing technology.
Market SnapshotsDigital 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.
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.Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/6600 The automotive industry has been a frontrunner in the integration of digital maps into its existing technology.
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.
