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.
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.
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The global digital map market 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 market is segmented into indoor and outdoor. By technology, the digital map market has been segmented into GIS, digital orthophotography, and aerial photography. Based on vertical, the digital map market is segmented into automotive, defense & aerospace, and smartphone.
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).
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.
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April 2019: 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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