The growing adoption of advanced & 3D technologies for digital map-making is boosting the digital map market growth
The global digital map market size is projected to reach over USD 30 billion by 2025. In addition, it is anticipated to gather a CAGR of over 16% during the forecast years 2018-2025. Digital map is a computer technology that creates, processes, and stores maps in two states that are positively denoted as “1” and non-positive denoted as “0” to visually display it on an electronic device. The digital maps can be segmented into a dynamic map and static map. The dynamic map can be further sub-segmented into an interactive map and an animated map. The growing adoption of digital maps to navigate or locate a place or thing is the major factor driving the demand for digital maps across various industry verticals.
The current and future digital map market advances are defined to state the attractiveness of the market. Key impacting aspects focus on the digital map of market opportunities during the forecast period. Factors such as the increasing adoption of smartphones and other mobile devices for navigation are driving market growth. Also, the growing adoption of advanced & 3D technologies for digital map-making is boosting the global digital map market growth. However, the regulatory and legal policies affecting the advancement of digital maps are likely to hamper the market growth. Furthermore, the growing demand for data mapping in real-time are anticipated to be opportunistic for the market.
The report also highlights various aspects of the global digital map industry by analyzing the market through value chain analysis. Besides, the digital map market report covers different qualitative aspects of the digital map industry in market drivers, key industry opportunities, and restraints. Furthermore, the report proposes a comprehensive valuation of the market competitiveness along with company profiling of residents as well as global vendors.
The digital map market has solid competition among the early established and new players. Also, to capture a competitive advantage over the other industry players many industry players are aiming potential markets by forming collaboration and partnerships, agreements, mergers & acquisitions, acquiring new startups & other companies, and escalating their business presence.
In terms of the application, the market is segmented into asset tracking, geo-positioning, routing and navigation, real-time location data management, and others. The real-time location data management segment accounted for the highest growth and it is projected to hold its position over the forecast period. On the contrary, the routing and navigation segment leads the market growth in 2019 and it is projected to hold its position over the forecast years. The market growth in this segment is primarily accredited to the increasing deployment of navigational systems in connected cars and smartphones.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast period due to the increasing adoption of smartphones and internet services penetration in this region. However, the North American region dominated the overall market in 2019 and it is projected to keep its position throughout the forecast period 2018-2025. The dominance of this region is primarily accredited to the presence of major market players in this region.
The major players of the global digital map market are Google, Esri, Digital Map Products, Indoor Atlas, HERE, Apple, MapWise, TomTom, ARC Aerial Imaging, and Nearmap. Moreover, the other prospective players in the digital map market are Mapillary, ThinkGeo, AutoNavi, Jibestream, and MapData Services. The digital map market comprises well established local as well as global players. In addition, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Segment Overview of Global Digital Map Market
Type Overview, 2018-2025 (USD Billion)
- Indoor Mapping
- Outdoor Mapping
Application Overview, 2018-2025 (USD Billion)
- Routing and Navigation
- Real-Time Location Data Management
- Asset Tracking
Industry Verticals Overview, 2018-2025 (USD Billion)
- Government and Defense
- Logistics & Transportation
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America