May 14, 2021
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.
Dallas, United States - May 14, 2021 /MarketersMedia/ —
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. Digital map makes use of Digital mapping technology which is combined term for compiling and converting collected data into digital images. The technology assures to offer documenting of major road arteries, precise depiction of a particular area and several other beneficial features. Digital mapping has gained an enormous traction over the recent times. Digital maps are considered being more accurate in comparison with the paper ones. They offer the most accurate reflection of a location to users by constantly uploading satellite culminated data along with street-level information. The digital maps use number of geospatial technologies like Global Positioning System (GPS), remote sensing, geofencing and Geographic Information Systems (GIS). These digital maps can be easily updated in order to perform user specific tasks. Digital mapping which is also known as cartography is widely being used in applications like territory planning, tracking, vehicle routing and many others.
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The global Digital Map Market has witnessed an exponential surge in the growth rate over the recent years. The consistent technological evolution over the years across the globe has been a major cause behind this upsurge in the growth of the digital map industry. In addition to that, the rising adoption of latest platforms for collection of Earth Observation (EO) data like High-Altitude Pseudo Satellites (HAPS), drones and small satellites have also been offering lucrative growth opportunities in the digital map industry. These high-tech platforms assure to offer more accurate targeting, increased capture options, greater coverage across satellite constellations and several other features. The rising need for surveying across numerous industry verticals has led to rise in population of digital maps across the globe. The increasing penetration of internet and rise in connected devices like interactive displays, tablets and smartphones has caused a boost in the demand for digital maps worldwide.
Furthermore, the rising shift towards consumer-centric applications and smartphones from personal navigation devices has been providing momentum to the growth of the global digital map industry. The factors like increasing growth of automotive sector such as self-driving cars, Advanced Driver Assistance Systems (ADAS), logistics control systems, fleet management, etc. has also been propelling the market performance. The active efforts taken by players in the digital map industry in order develop and launch multi-platform applications by using geomatics systems like imagery, Global Positioning System (GPS) and mapping is anticipated to fuel the demand for these maps over the forecasted era. However, a considerable amount of investment is involved in the construction of digital maps as it includes number of sensors, mode of data collection and technology employed for data collection which might impede the growth of the market.
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.
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Key Segments of the 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)
• Rest of Europ
• Rest of Asia-Pacifi
Middle East and Africa
• South Africa
• Rest of Middle East and Afric
• Rest of South America
What does the report include?
• The study on the global digital map market includes qualitative factors such as drivers, restraints, and opportunities
• The study covers the competitive landscape of existing/prospective players in the digital map industry and their strategic initiatives for the product development
• The study covers a qualitative and quantitative analysis of the market segmented based on type, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments.
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code – Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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Source URL: https://marketersmedia.com/digital-map-market-2021-analysis-by-mapping-type-application-growth-impact-leading-players-industry-demand-profit-opportunities-business-revenue-forecast-2025/89014776
Release ID: 89014776
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