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Digital Map Market: Lucrative Opportunities across Globe

Digital Map Market: Lucrative Opportunities across Globe

Digital map refers to virtual images formed by gathering data and configuring it into an image which is also called cartography. The method of gathering data and structuring it into a virtual image is termed as digital formatting. Digital formatting produces maps that can provide accurate information and representations about a particular road, area, or any other geographical location. Digital mapping refers to the process in which data is accumulated to produce maps, in the form of virtual images, which precisely represents a certain geographical area, the main roads, rivers, and various important landmarks such as tourist attractions, airports, and hospitals from a particular region. Digital mapping technology can also be used to compute distances between different places.There are certain map providers who provide updates for a specific time period while others are providing map updates on a real-time basis. During the last few decades, mapping technology has evolved with the introduction of digital maps and increase in coverage area and updates of digital maps. Now, players have shifted focus toward updating digital maps on a real time basis for accurate insights. Digital maps are utilized within various platforms such as Foursquare, Google Maps, Google Earth, and global positioning system (GPS). Automotive navigation systems use digital maps with the help of GPS satellite networks. Technological advancements in digital maps has resulted in delivering information related to road blocks, traffic updates, and updated places of interest, landmarks etc. making digital maps more user-friendly.

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The digital map market is anticipated to witness significant demand from geographical information system (GIS) providers and navigational application developers. The abundant rise in the number of smartphone and internet users has further increased market growth at the global level. Recent years have seen a rise in demand for digital maps owing to the rapid growth in demand for geospatial information. Growth in the number of connected and semi-autonomous cars, estimated developments in self-driving and navigation technology, and surge in the overall number of cars in developing countries are also expected to drive the growth of digital maps. Thus, growth of geomarketing and renewed interest of automakers in connected and self-driven cars utilizing digital maps are factors which are expected to drive the market during the forecast period.

However, lack of in-house expertise and stringent government regulations are expected to restrain the market growth during the forecast period.

The digital map market can be segmented on the basis of technology, service, usage, application, and geography. The market on the basis of technology can be segmented into GIS, LiDAR, digital orthophotography, aerial photography and others. Based on the application of mapping techniques in various end-uses or usage, the market can be segmented into indoor and outdoor. Indoor usage includes airports, departmental stores, malls and others. Outdoor usage includes automotive navigation, public places and others. In terms of application, the market is segmented into automotive, military & defense and others. On the basis of service, the market is segmented into consulting, development, and management. Geographical segmentation of the digital map market includes North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America.

Key players operating in the digital map market include Alibaba, AutoNavi Holding Ltd., Google Inc., Micello Inc., NavInfo Co. Ltd., ArcGIS Online, OpenStreetMap, Yahoo Maps, Zenrin, WoNoBo, Bing Maps, MapSherpa, GeoMapserver, MapQuest, NearMap, Inrix, Mapion, Mappy, Roadtrippers, WikiMapia, MapmyIndia, ViaMichelin, Tom Tom NV, Magellan Navigation, Bhuvan, and Baidu Maps. All the major companies are adopting various strategies such as production innovation and partnerships to gain competitive advantage in the market.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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