Expert Market Research’s new report titled “Global Digital Maps Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026”, provides an in-depth analysis of the global digital maps market, assessing the market based on of its segments such as type, feature, application, end use and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026):
• Forecast CAGR (2020-2026): 14.3%
The digital map development process requires considerable investment in sensors, data collection equipment, and data collection mode, which may limit the number of participants that can participate in the design stage. However, a significant number of software vendors are expected to support industry growth in the coming years, focusing on specific industries and using new ways to extend data sets. current. During the projected period, the industry is expected to grow owing to the continued shift from personal navigation devices to smartphones and consumer-centric applications.
Industry definition and major segments
A digital map, often called cartography, is an electronic map whose operation is based on a set of graphic elements that are provided to it in the form of electronic data. It is based on data that has been obtained naturally and converted into digital map data. The process of collecting and compiling data to create a virtual image is known as digital mapping.
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The industry can be broadly classified on the basis of type into:
• Software Solutions
• Web-based
• Office
• Mobile app
• Maps (data)
• Services
The industry can be divided based on functionality as follows:
• Computerized
• Scientific
• GPS-navigation
The industry is segmented on the basis of applications into:
• Interior applications
• Exterior applications
Industry can be categorized by end use as follows:
• Government and public services
• Construction and Engineering
• Logistics, travel and transport
• Military and Defense
• Automotive
• Retail and real estate
• Others
Based on Region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market trends
A growing end-user base is likely to create a surge in demand from navigation application developers and geographic information system (GIS) providers. The rapid rise in the number of smartphone and internet users has further boosted the growth of the market. Additionally, the demand for digital maps is expected to grow as the number of connected and semi-autonomous automobiles grows, alongside anticipated advances in self-driving and navigation technologies. Due to the rapid development of the demand for geospatial data, digital mapping has received a lot of attention in recent years. Smart parking, location tracking, traffic and congestion intelligence, and logistics management applications all require real-time routing and congestion updates. Since digital mapping is rapidly evolving, it can provide data streams and information to various applications. Additionally, the growing number of businesses using location-based services for marketing and advertising is expected to drive demand in the coming years. As the demand for environmental and topographic information systems increases, digital mapping is attracting increased interest from government and the public sector. Additionally, in light of recent man-made and natural hazards, the requirement to maintain an up-to-date information system for law enforcement personnel, defense forces and local governing bodies is expected to drive demand for cards. One of the most essential conditions for the success of a product on the market is a smooth interaction between maps and information systems. Therefore, vendors should focus more on data integration throughout the forecast period. As the digital map industry evolves, large companies must engage in mergers and acquisitions to stay at the forefront of market innovations and maintain a competitive edge in an ever-changing technical landscape.
Key market player
Major market players include Environmental Systems Research Institute (ESRI), Inc., Google LLC, TomTom NV (AMS: TOM2), Mapbox Inc., DigitalGlobe, Inc., Apple Inc., HERE Global BV, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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