The global digital map market size is estimated to
reach USD 8.76 billion by 2025, growing at a CAGR of 11.5%, according to a new
study by Grand View Research, Inc. The market is expected to witness
substantial demand from navigational application developers and Geographical
Information System (GIS) providers, who in turn are driven by a growing
end-user base. The prolific rise in the number of smartphone and internet users
has further augmented market growth at the global level.
Digital cartography has
been gaining increasing attention in recent years owing to a rapid growth in
demand for geospatial information. The growth in the number of connected and
semi-autonomous cars, anticipated developments in self-driving and navigation
technology, and an increase in the overall number of cars in developing
countries are expected to drive the growth for digital maps across the globe.
Applications such as
smart parking, location, traffic and congestion intelligence, and logistics
management need routing and congestion updates in real time. As digital
cartography has been developing at a rapid rate, it can support these
applications with data feeds and information. In addition, the increasing
number of businesses that are using location-based services for marketing and
advertising is also estimated to enhance the demand growth in coming years.
Digital mapping is also
finding renewed demand in the government & public sector as the demand for
environmental and topographical information systems is on the rise.
Furthermore, the need to maintain an updated information system for law
enforcement officials, defense forces, and local governing bodies in light of
recent manmade and natural threats is anticipated to propel the demand for
maps.
Smooth interaction
between maps and information systems is one of the most important criteria for
product success in the market owing to which vendors are expected to focus more
on data integration over the forecast period. As the industry
matures, key players are anticipated to indulge in mergers and acquisitions in
order to keep abreast of the market developments and maintain a competitive
edge in a rapidly evolving technological landscape.
Access Research Report of Digital
Map Market@ www.grandviewresearch.com/industry-analysis/digital-map-market
Further key findings from the study suggest:
· The effect of recent technological developments
and the shift toward smartphones is expected to have a profound effect on the
Personal Navigation Devices (PND) market
· Collaborations and partnerships between car
manufacturers, in-dash navigation system providers, and digital map data
providers are predicted to define the way forward for the market.
· Revenue generation models are estimated to
differ considerably over the coming years with some vendors opting for revenue
generation from data and information sales, while others opting for location-based
services. There is also a high probability of vertical integration in the
industry.
· Developing regions in the world are
expected to witness exploration activities, whereas developed countries would
witness a growth in demand for real-time data and information.
· Asia Pacific is the fastest-growing
regional segment due to the growth of smartphone users as well as the number of
cars in this region.
Grand View Research has
segmented the global digital map market based on technology, usage, service,
application, and region:
Digital Map Technology Scope (Revenue, USD Million;2014 -
2025)
·
GIS
·
LiDAR
·
Digital Orthophotography
·
Aerial Photography
·
Others
Digital Map Usage Scope (Revenue, USD Million;2014 -
2025)
·
Indoor
·
Outdoor
Digital Map Service Scope (Revenue, USD Million;2014
- 2025)
·
Consulting
·
Development
·
Management
Digital Map Application Scope (Revenue, USD
Million;2014 - 2025)
·
Automotive
·
Military & Defense
·
Mobile Devices
·
Enterprise Solutions
·
Government & Public Sector
Digital Map Regional Scope (Revenue, USD Million;2014 -
2025)
·
North America
·
Europe
·
Asia Pacific
·
South America
·
MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
